ProShares files for ETF that tracks companies focused on the metaverse

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ProShares, which debuted a bitcoin futures-tied exchanged-traded fund earlier this year, wants to list an ETF that tracks companies working on metaverse-themed initiatives.

If approved, ProShares Metaverse Theme ETF, according to Wednesday's filing, will track the Solactive Metaverse Theme Index. That particular index tracks a who's-who of technology giants, including Apple, Meta (formerly Facebook) and Alphabet, as well as gaming majors Activision Blizzard, EA and Take-Two, among others.

In sum, the indexed companies are those believed to be staking out future business lines in the so-called metaverse, referring to virtual worlds, 3-D experiences, personal avatars and other areas.

To be sure, the ETF itself doesn't appear to have any direct focus on cryptocurrencies or non-fungible tokens. Yet some of the companies included on the index, including Twitter and Meta, have pursued crypto-related initiatives in the past.

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May 5, 2022, 3:17PM UTC
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