Yet interest in the digital-assets ecosystem has plunged this year as prices for just about every crypto token have tanked. Bitcoin, the largest by market value, has plummeted about 60% in 2022 and Ether has declined as well. Google searches for cryptocurrencies have also diminished amid the so-called crypto winter.
You can tell from other metaverse, blockchain funds that interest has waned, said Todd Sohn, ETF strategist at Strategas Securities. I get the long-term idea, but now theres a ton of competition in the space too.
BlackRocks metaverse ETF wouldnt be the first. A handful of funds are already trading, including the Roundhill Ball Metaverse ETF, and there are also products from Subversive and Fidelity.
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