SNEAK PEEK
- Asset manager BlackRock Inc. reveals plans to create an ETF to provide its clients an opportunity to add firms with metaverse exposure to their portfolios.
- This marks an advancement in the colossal asset manager’s crypto offerings as it has already launched crypto and blockchain ETF targeted toward European customers.
- The new fund is the latest foray into the blockchain ecosystem for the New York-based investment giant.
BlackRock Inc., one of the world’s largest asset managers announced plans to launch a new ETF that is aimed at capitalizing on the firms associated with metaverse. The new fund, named the iShares Future Metaverse Tech and Communications ETF marks the latest addition into the blockchain ecosystem for the investment giant based in New York.
The firm has just launched the iShares Blockchain Technology UCITS ETF, which tracks the New York Stock Exchange FactSet Global Blockchain Technologies capped index. The index is targeted toward European customers.
Back in August, BlackRock made an announcement that it is partnering with Coinbase crypto exchange in order to provide clients with crypto custody, trading, reporting capabilities, and prime brokerage. The partnership was aimed at offering institutional clients access to crypto through the Coinbase deal.
BlackRock has now joined forces with other traditional finance firms in launching funds that consist of firms that have exposure to the metaverse. Some of these companies are Fidelity, Invesco, and Franklin Templeton.
The colossal asset manager is continuing to advance its crypto offerings and is certainly keeping up with the trend and advancements in the field of FinTech.
