“Metaverse” has certainly been a buzzword in recent months, and Evolve Funds Group Inc plans on making it easier for Canadian investors to increase their exposure to companies involved in the development of this virtual world.
Evolve is in pursuit of Canada’s first Metaverse ETF
In a press release on Tuesday, Evolve Funds Group Inc said it had filed a preliminary prospectus with the Canadian securities regulators for the country’s first Metaverse ETF.
The expected ETF with the ticker symbol “MESH” will include a broad range of companies related to the Metaverse space, thus offering an opportunity for Canadian investors to hold a diversified portfolio within this promising new sector.
The Evolve Metaverse ETF will offer both hedged and unhedged Canadian dollar-denominated ETF units.
Metaverse could have an over $1.0 trillion TAM
According to CEO Raj Lala, Metaverse has the potential to transform many aspects of our personal and professional lives. He sees it as a phenomenon as big as the “development and adoption of the internet in the 1990s”. In the press release, the chief executive said:
As a leader in disruptive innovation ETFs, we are excited to bring another first to Canadian investors. Over the next decade, the Metaverse market is predicted to exceed $1.0 trillion. The Metaverse will be built by many and shared by all. We are using the ticket MESH since the Metaverse will bring our physical and digital worlds together.
Evolve Funds Group Inc launched its first ETF in the back half of 2017. Within four years, it has already established itself as one of the fastest-growing ETF providers in Canada, with more than $2.0 billion in assets under management at present.
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