Investment Firm Franklin Templeton Debuts Metaverse-Focused ETP
- Global investment firm Franklin Templeton has recently announced the launch of a metaverse-based Exchange Traded Product (ETP) for its customers.
- The new ETP, called the Franklin Metaverse UCITS ETF, aims to track the German-based index provider Solactive’s Global Metaverse Innovation Index GTR.
New York City-based multinational holding company and global investment firm Franklin Templeton has recently announced the launch of a metaverse-based Exchange Traded Product (ETP) for investors.
The new ETP, called the Franklin Metaverse UCITS ETF, aims to track the German-based index provider Solactive’s Global Metaverse Innovation Index GTR, under its goal to offer investors exposure to the “forward-looking, shared virtual and mixed reality” of the metaverse world.
European investors will be able to obtain exposure to businesses with a stake in the metaverse world or those planning to participate through the UCITS ETF. The new investment product is all set to get listed on the Borsa Italiana on Wednesday and the London Stock Exchange (LSE) on Friday. The UK, Austria, Finland, Denmark, France, Germany, Italy, Ireland, Spain, and Sweden will all register the ETF.
Notably, the metaverse ETP does not draft in companies that do not align with the United Nations Global Compact Principles, according to the announcement.
Dina Ting, Head of Global Index Portfolio Management, and Lorenzo Crosato, ETF Portfolio Manager at Franklin Templeton, will co-head and manage the new initiative.
“Many big tech companies have already pivoted towards the metaverse for their next major area of development in the same way that many did at the inception of the internet. There appear to be tremendous real-world business opportunities for investment in this space considering that by 2030, the e-commerce market could grow between $2.0–$2.6 trillion,”commented Ting on the new offering.
The head of ETF Business Development, EMEA at the company, Caroline Baron, believes that the metaverse sector will grow to $5 trillion in value by 2030, and the company has joined hands with Solactive AG to capture this opportunity and build “a distinct ETF backed by the scale and resources of Franklin Templeton.”
The company presents itself as one of the foremost financial behemoths that have given investors a way to interact with the metaverse. Along with Franklin Templeton, other companies that have launched their own metaverse-linked ETPs include ProShares, Fidelity Investments, Global X, ETC Europe, and Invesco.