Global X Launches New Thematic ETF Investing in Metaverse Technology

[Asia Economy Reporter Yoonju Hwang] Mirae Asset Global Investments, which acquired the U.S. ETF management company 'Global X,' has listed an exchange-traded fund (ETF) investing in metaverse technology-related stocks on the Nasdaq.

Mirae Asset Global Investments announced on the 29th that it newly listed the 'Global X Metaverse ETF (ticker VR)'.

The Global X Metaverse ETF primarily invests in stocks with more than 50% of their revenue related to metaverse technology. The ETF tracks the ‘Global X Metaverse Index’.

This index classifies the metaverse into business sectors such as augmented reality (AR)/virtual reality (VR)/mixed reality (MR) and spatial computing, creator platforms, creator economy, and digital infrastructure/hardware, then selects constituent stocks based on the proportion of related revenue.

As of April 13, the country weightings of the tracked index are led by the U.S. at 51.78%, followed by Japan (18.32%), Korea (15.21%), and China (9.97%). The stocks ‘NVIDIA CORP’, ‘META PLATFORMS INC’, ‘NETEASE INC’, ‘ROBLOX CORP’, ‘SNAP INC’, and ‘NINTENDO CO LTD’ are equally weighted at 6% each.

Meanwhile, Global X is a U.S.-based ETF specialist founded in 2008. Mirae Asset Global Investments acquired Global X in 2018. At the time of acquisition, Global X managed 55 ETFs with $10.5 billion in assets under management, and as of the end of March 2022, it manages 92 ETFs with $43.8 billion in assets, growing more than fourfold. Global X ETFs can be traded through overseas stock accounts at domestic securities firms such as Mirae Asset Securities.

This content was produced with the assistance of AI translation services.