2022-2-19 18:42 |
CSOP Asset Management has launched the first metaverse-themed exchange traded fund in Hong Kong, which will open for trading following listing on the Hong Kong Stock Exchange on February 21, CoinGape reported.
Fund to invest mainly in US metaverse companiesTo fulfill its investment goals, CSOP will adopt the management strategy to invest mainly in metaverse-related, U.S. listed companies. According to a report by CSOP, Metaverse Concept ETF received an initial investment of around $9 million at launch.
The metaverse will be an indivisible element of the future of the internet according to many important market players, including technology giants like Meta, the former Facebook.
Combining physical space with VR and ARCSOP’s version of the metaverse will combine 2D online experiences like computer games with AR and VR technologies. These technologies’ market cap is expected to reach around $300 billion by 2024, which is a notable sign of the huge growth potential of metaverses.
Metaverse global market goes through the roofThe global metaverse market is estimated to surge much like the market cap of the underlying technology, increasing from around $5 million in 2020 to $1.5 trillion in 2030. This is a CAGR of 253% according to data from CSOP’s report.
Melody He, Deputy CEO of CSOP said:
The Metaverse represents the beginning of a brand new era, in which a parallel new world will be created. We are optimistic about future thematic investments and firmly believe that adding CSOP Metaverse Concept ETF to our product line will further fulfill all of our investors’ investment needs,
Metaverse ETFs have been popular in this part of the world since 2021, when South Korea announced it was launching Asia’s first four metaverse ETFs. Around $100 million was raised in just two weeks. Morgan Stanley forecasts that metaverses can reach a market value of $8 trillion in China alone.
About CSOP
In 2008, CSOP Asset Management Limited became the first offshore entity to be set up by a regulated Chinese asset manager. Based in Hong Kong, CSOP holds Type 1 (Dealing in Securities), Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses issued by the Hong Kong Securities and Futures Commission.
The post Hong Kong to list first metaverse ETF on February 21 appeared first on Invezz.
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