HANetf has announced the launch of ETC Group Web 3.0 UCITS ETF (ticker: WEB3).
WEB3 is focused on a diverse array of 20 companies that are exposed to the four key themes of Web3’s growth:
• NFTs & tokenisation
• Blockchain technology
• Metaverse & big data
• Artificial intelligence (AI).
The firm writes that the advent of Web3 necessitates a revolutionary overhaul of the internet’s infrastructure, underpinned by a cutting-edge technology stack for creating, transmitting, and storing digital value.
The digital economy added an estimated USD22.7 trillion to the US economy in 2022, approximately 10 per cent of total GDP. As digitalisation accelerates, experts anticipate this figure to rise substantially, potentially signalling robust growth for investments in this sector.
Despite significant investment from global companies, the theme is still nascent – the Web 3.0 ETF will be the first and only ETF in Europe to provide exposure to this potentially transformational shift.
WEB3 is also classified as Article 8 under the Sustainable Finance Disclosure Regulation (SFDR), and factors in environmental and social considerations as part of the index methodology. It tracks the Solactive ETC Group Web 3.0 Index, which is ESG-screened.
The index also employs AI-driven construction, in order to keep it up-to-date and relevant. The sector is rapidly evolving, and innovative tools such as this help to ensure that the most important Web 3.0 companies are selected, the firm writes.
Chanchal Samadder, Head of Product at ETC Group, says: “The transition from Web 2.0 to Web 3.0 is poised to be one of the most transformative shifts of our time, redefining the very essence of the internet and the digital economy. As Europe’s first equity Web 3.0 fund, this ETF offers investors a unique opportunity to invest in this groundbreaking evolution.”
Hector McNeil, Co-Founder and Co-CEO of HANetf, says: “We are delighted to be partnering with ETC Group to launch ETC Group Web 3.0 UCITS ETF (WEB3). The ETF is the first opportunity for investors in Europe to invest in a Web 3.0 ETF. This theme is still nascent, and the ETF potentially offers investors the chance to capture this transformational shift.
“WEB3 becomes our 11th ETF to be classified as SFDR Article 8, underscoring our commitment to offering new and innovative ETF solutions that align with investors’ sustainability criteria.”
