ProShares launches Metaverse ETF

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ETF issuer ProShares has launched a Metaverse ETF (VERS). VERS is designed to give investors access to leading companies shaping the next frontier of digital interactions. 

“The metaverse may be as impactful on society as the arrival of the internet or the mobile phone, and the investment opportunity has the potential to be just as compelling,” says Michael L. Sapir, ProShares Founder and CEO. “VERS provides investors with a diversified basket of innovative companies that are positioned to potentially benefit from the metaverse’s rapid rise.”

ProShares’ VERS ETF tracks the Solactive Metaverse Theme Index, which relies on state-of-the-art algorithms designed to capture the metaverse investment opportunity as it evolves. The index tracks 40 companies spanning a broad range of industries – from device makers to data processers, as well as social media, gaming, and other platforms that facilitate digital interaction. These companies are placing significant stakes in this virtual ground with the hope that its development represents the next phase of the internet. 

“The metaverse has the potential to revolutionise a range of industries,” says Scott Helfstein, executive director, thematic investing at ProShares. “In the not-too-distant future, anything from a work meeting to time with family could take place in the metaverse, and VERS provides investors an easy way to access the potential growth.”
 

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