Metaverse investment enters mainstream as CSOP’s exchange-traded fund debuts in Hong Kong to pick winners in next-generation web
- Hong Kong fund manager CSOP will list the first ETF in Hong Kong that invests in US stocks linked to the metaverse
- South Korean investors have piled into metaverse ETFs, which pick potential winners in the race to the next generation of the web
Trading in Hong Kong under the mnemonic “3034,” the actively managed fund will list at HK$7.80 per unit, for a board lot of 100 units. The fund’s manager actively buys and sells stocks from the portfolio, instead of tracking its performance against a benchmark like passive ETFs, CSOP said.
“As the technologies involved in the development of the metaverse are ever changing, an actively managed ETF is more suited to investing in the metaverse,” said CSOP’s director Kenneth Lee, during a Friday media briefing hosted on Roblox platform for virtual events and avatars, adding that the active ETF will undergo more frequent reviews than passive funds.
The ETF will invest in US-listed stocks, including American depositary receipts (ADRs), that belong to four categories in the metaverse infrastructure: chip and telecoms network companies, engineering stocks such as display makers, application developers and content providers.