Blackrock Has Filed For Approval Of A Metaverse Exchange Traded Fund At SEC

Blackrock, the largest asset manager in the entire world in terms of assets under management (AUM) has recently submitted a file to the US SEC.

Blackrock is interested to gain more exposure in the blockchain and digital asset space, wanting to invest more energy into the spaces.

The firm has already made invested a great fortune in the blockchain and digital asset sector. The recent filing submitted by the asset manager at the Securities and Exchange Commission confirms it seeks more exposure to the industry.

The US SEC Revealed Blackrock’s Recent Filing

The US Securities and Exchange Commission has recently revealed the data surrounding the filing submitted by BlackRock.

The SEC representatives, Vildana Hajric and Katherin Greifeld have revealed that in the filing, Blackrock has revealed it is planning to launch an exchange-traded fund (ETF).

The source confirmed on Friday that the new ETF Blackrock plans to launch is Ishares Future Metaverse Tech and Communications ETF.

Other Ventures Launched by Blackrock

The reports surrounding Blackrock’s latest filing come shortly after the announcement of Ishares Blockchain Technology UCITS ETF’s launch.

Back in August, it was revealed that Blackrock had formed a partnership with Coinbase. The asset management company had partnered with the third-largest cryptocurrency exchange to provide clients with cryptocurrency assets access.

Over time, Blackrock has continued growing more and more proponents of cryptocurrencies. The constant exploration of Blackrock in the crypto-blockchain sector is a clear indication that it is reacting to its client’s demands.

Despite the downtrend being witnessed in the cryptocurrency industry, mainstream and institutional investors have been investing in cryptocurrencies.

Blackrock seems to be recording the same trend and therefore, it has started gaining more exposure in the cryptocurrency markets to provide more benefits to its clients.

The ticker has not been decided

The SEC sources have confirmed that Blackrock had submitted the filing for the new ETF on September 29. Although Blackrock wants the filing to be approved as soon as possible, it has not mentioned the ticker.

This means that the firm is still under the consideration process for the ticker of the new metaverse ETF. There is a chance that Blackrock may submit the ticker in the next filing they submit at the US SEC.

Investors and Clients for the New ETF

Having the largest AUM in the world means that Blackrock has clients from all investment levels. Therefore, Blackrock launching an ETF in the metaverse could attract investors from all kinds of spaces.

According to market experts, the major sectors the metaverse ETF may target would include augmented reality, digital assets, gaming, social media, and virtual platforms.

The ETF could bring investors to the cryptocurrency and blockchain industry, especially the metaverse on a very large scale, increasing its market demand.

By Brandon Craig
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