Metaverse ETP Gains Approval in Europe

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• The ETP will consist of an index of the top five digital assets related to the metaverse, a market which Bloomberg Intelligence estimates could present an $800 billion revenue opportunity by 2024
• Roundhill Investments’ Metaverse ETF (META) has seen $754 million enter the fund since Facebook’s rebrand announcement on Oct. 28, according to FactSet data, and First Trust has filed to launch a similarly themed product

DeFi Technologies subsidiary Valour is set to launch an exchange-traded product focused on the metaverse in Europe as companies continue gravitating to the space.


The firm’s Metaverse and Gaming Index ETP was approved by the Swedish Financial Supervisory Authority (SFSA) and has regulatory approval for distribution across the European Union.


The ETP will consist of an index of the top five digital assets related to the metaverse, which is a network of virtual environments and economies created through gaming, virtual reality, social networking and crypto. Digital asset projects focused on the metaverse include virtual world platforms like Decentraland (MANA) and play-to-earn games, such as Axie Infinity.


The approval follows Facebook rebranding to Meta in October as CEO Mark Zuckerberg called the metaverse” the next frontier.” Other companies, such as Nike, Louis Vuitton and Disney, have also announced plans to move into the space. 

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