METV - Fidelity enters the metaverse with a new ETF

Fidelity Investments is the latest asset manager to enter the metaverse space, announcing its launch of the Fidelity Metaverse ETF (FMET). The fund will join an increasingly crowded field that already includes offerings from the likes of ProShares and others. Fidelity’s ETF looks to provide access to the growing metaverse sector -- a high-profile tech trend that focuses on a network of virtual worlds that are interrelated through a social connection and facilitated by the use of virtual and augmented reality. The theme has grown in public attention since last year, highlighted by Facebook's name change to Meta Platforms (FB) back in late October. The exchange traded fund will track the Fidelity Metaverse Index, which is engineered to replicate the performance of a global universe of stocks related to the metaverse in various capacities, from development to manufacturing to distribution. The metaverse is an emerging market segment that has global

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Fidelity enters the metaverse with a new ETF