Fidelity to Launch Two ETFs to Track the Global Universe

According to SEC filings, Asset manager Fidelity Investment is planning to launch two exchange-traded funds. This will track and reflect the performance of companies exposed to the metaverse and crypto sectors. 

The company filed with the US Securities and Exchange Commission and set out key information on the proposed exchange-traded funds called the Fidelity Crypto Industry and Digital Payments ETF, and the Fidelity Metaverse ETF.

The filings come after cryptocurrencies underwent a severe correction that has eroded over $1 trillion in market value. Metaverse is having billions of investments pouring into the virtual world, with the continuous surge in its popularity.

According to the filing, the index represents the performance of a global universe of companies that are engaged in crypto-related activities. The growing number of tech giants are seeking to get exposure to the metaverse. It could be in any way such as owning digital assets. According to the analysts at Goldman Sachs, the metaverse has can be an $8 trillion investment opportunity.