Metaverse ETFs’ Boom and Bust

Investors and issuers are doubling down on metaverse exchange-traded funds, even as the ETFs are beaten down in the market and the virtual spaces are ridiculed by the public.

Over 35 metaverse-related ETFs have launched globally since June 2021, according to Morningstar Direct data, a subscription portfolio product. That has outpaced the 32 internet-themed launches and 29 blockchain ETFs over the last two years. The launches aren’t limited to smaller firms: Earlier this month, BlackRock’s iShares unit announced the launch of the iShares Metaverse UCITS ETF (MTAV), which is listed on Euronext.