Fidelity Seeks SEC Approval for Metaverse ETF

The financial services giant filed an application for an ETF that will track companies developing and selling products for the metaverse.

AccessTimeIconJan 28, 2022 at 1:51 a.m. UTC
Updated May 11, 2023 at 7:17 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Fidelity Investments has filed an application for a metaverse exchange-traded fund (ETF), aiming to track public companies with exposure to the blockchain-based network of three-dimensional, virtual realities.

  • The Fidelity Metaverse ETF will track the Fidelity Metaverse Index, which tracks “the performance of a global universe of companies that develop, manufacture, distribute or sell products or services related to establishing and enabling the metaverse,” according to the filing.
  • Fidelity’s application is the latest among companies looking to address skyrocketing interest in the metaverse. In December, ProShares filed a metaverse ETF application with the U.S. Securities and Exchange Commission.
  • In June, Roundhill Investments launched a metaverse ETF that trades on the New York Stock Exchange. Four major South Korean asset management funds are also now listing metaverse-related exchange-traded funds, the first in the country.
  • Geode Capital Management will be a sub-adviser for the Fidelity fund.
  • On Thursday, the SEC refused to approve a Fidelity spot bitcoin ETF adding to the recent list of rejected applications.


Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Author placeholder image

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about