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CSOP launches Metaverse ETF


China’s CSOP Asset Management has listed the CSOP Metaverse Concept ETF (stock ticker: 3034.HK) on the Hong Kong Stock Exchange.

The firm writes that as Hong Kong’s first Metaverse ETF, 3034.HK will adopt an active management strategy mainly investing in US listed companies, relating to the Metaverse business, to achieve its investment objective. With listing price at around HKD7.8 per unit, trading lots of 100 shares and annual management fee of 0.99 per cent, CSOP Metaverse Concept ETF will start to trade on 21 February 2022. Upon inception, CSOP Metaverse Concept ETF (stock ticker: 3034.HK) has received around USD9 million initial investment.

CSOP writes that the Metaverse is best understood as the next iteration of the internet.

“Technology giants are investing massive resources into the Metaverse industry. Facebook even changed its company name to META to reflect its ambition of developing the Metaverse. “Metaverse” refers to shared three-dimensional (“3D”) virtual worlds which are engineered and powered by a combination of technologies, tools and standards that enable highly immersive virtual collaborations and interactions between large volumes of concurrent users, which in turn facilitate extensive interoperability of data, digital assets and content. 

“The Metaverse will also combine physical spaces, two-dimensional Internet experiences, for example, apps and webpages, and finite simulations, for example, computer games, with virtual-reality (“VR”) and augmented reality (“AR”) technologies. As the key sector driving the growth of the Metaverse, the global AR/VR market size is forecasted to rise to around USD 300 billion by 2024, indicating the huge growth potential of Metaverse. The Metaverse is capable of establishing virtual environments where people can interact as if they were present in person and the Covid-19 pandemic has accelerated the development of Metaverse. Both the technology breakthrough and trendy future life mode bode well for the Metaverse, indicating its promising future development. The global Metaverse market is estimated to grow from approximately USD5 million in 2020 to USD1.5 trillion in 2030, indicating a high CAGR of 253 per cent.”

Adopting an actively managed investment strategy, 3034.HK primarily invests in companies, which are directly or indirectly involved in the use of innovative technology to offer products or services which contribute to the development of the Metaverse. 3034.HK comprehensively covers 46 most representative leaders in the Metaverse area in the US market. The firm writes that these companies represent advanced technological progress in the forthcoming Metaverse, ranging from infrastructure and engineering to application and content. As of 03 February 2022, the total market cap of these companies is USD 5.2 trillion.4 CSOP Metaverse Concept ETF (stock ticker: 3034.HK) presents global investors with opportunities in the most cutting-edge area easily and transparently.

CSOP writes that it has been a pioneer in portraying a smarter, healthier and greener future by bringing a series of future-themed ETFs to global investors. The launch of CSOP Metaverse Concept ETF will further broaden the CSOP thematic ETF spectrum, bringing it to the next level.

Melody He, Deputy CEO, says: “The Metaverse represents the beginning of a brand new era, in which a parallel new world will be created. As the latest and one of the most important members of the CSOP thematic ETF series, CSOP Metaverse Concept ETF is our bold attempt at something new and futuristic, providing our investors with state-of-the-art investment opportunities. We are optimistic about future thematic investments and firmly believe that adding CSOP Metaverse Concept ETF to our product line will further fulfill all of our investors’ investment needs.”

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