ProShares Launches Metaverse ETF, Expands Innovative Fund Lineup to the Internet’s Next Frontier

Rhea-AI Summary

ProShares has launched the Metaverse ETF (VERS), targeting investments in leading companies shaping the metaverse. This ETF tracks the Solactive Metaverse Theme Index, which includes 40 companies from various sectors like gaming, social media, and technology. ProShares emphasizes the metaverse's potential impact, comparable to the internet's arrival. The firm previously launched the bitcoin-linked ETF (BITO) in 2021, expanding its thematic funds portfolio, now exceeding $60 billion in assets.

Positive

• Launch of VERS ETF targeting metaverse investments.
• Tracks Solactive Metaverse Theme Index with 40 diverse companies.
• Potential for substantial growth in the metaverse sector.
• ProShares' established history with over $60 billion in assets.

Negative

• Investments in the developing metaverse carry inherent risks.
• Index companies may have unrelated business lines affecting performance.
• Cyber-attack risks could disrupt operations and result in losses.

VERS ETF is designed to capture the evolving metaverse investment opportunity across a range of technology-focused industries

BETHESDA, Md.--(BUSINESS WIRE)--

ProShares, a premier provider of ETFs, today launched a Metaverse ETF (VERS). VERS is designed to give investors access to leading companies shaping the next frontier of digital interactions.

“The metaverse may be as impactful on society as the arrival of the internet or the mobile phone, and the investment opportunity has the potential to be just as compelling,” said Michael L. Sapir, ProShares Founder and CEO. “VERS provides investors with a diversified basket of innovative companies that are positioned to potentially benefit from the metaverse’s rapid rise.”

ProShares’ VERS ETF tracks the Solactive Metaverse Theme Index, which relies on state-of-the-art algorithms designed to capture the metaverse investment opportunity as it evolves. The index tracks 40 companies spanning a broad range of industries – from device makers to data processers, as well as social media, gaming, and other platforms that facilitate digital interaction. These companies are placing significant stakes in this virtual ground with the hope that its development represents the next phase of the internet.

“The metaverse has the potential to revolutionize a range of industries,” said Scott Helfstein, executive director, thematic investing at ProShares. “In the not-too-distant future, anything from a work meeting to time with family could take place in the metaverse, and VERS provides investors an easy way to access the potential growth.”

ProShares launched the first bitcoin-linked ETF (BITO) in 2021, building on the firm’s long history of product innovation. VERS is the latest addition to ProShares’ growing lineup of thematic funds, which make it easy to invest in long-term, transformational trends such as the increasing influence of e-commerce, on-demand services, big data, and nanotechnology.

About ProShares

ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with more than $60 billion in assets. The company is a leader in strategies such as dividend growth, interest rate hedged bond, thematics and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

There is no guarantee any ProShares ETF will achieve its investment objective.

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.

Investing involves risk, including the possible loss of principal. This ProShares ETF is subject to certain risks, including the risk that the fund may not track the performance of the index and that the fund’s market price may fluctuate, which may decrease performance. Please see their summary and full prospectuses for a more complete description of risks.

Investments in Metaverse technology are subject to risks associated with a developing industry and there is no guarantee that these companies will be successful. Metaverse companies may be subject to cyber-attacks, including but not limited to, unauthorized access to digital systems, data corruption, and service or operational disruption. Cyber-attacks can cause disruptions and impact business operations, potentially resulting in financial losses, the inability of Fund shareholders to transact business, violations of applicable privacy laws and other laws.

The index theme may not be the primary driver of company, index or fund performance. Companies in the index may have significant unrelated business lines, which could have a significant negative impact on company, index and fund performance.

This fund concentrates its investments in certain sectors. Narrowly focused investments typically exhibit higher volatility. Diversification may not protect against market risk.

This fund may be subject to additional risks associated with the semiconductor, software, media and entertainment, and retailing industries. A more complete discussion of risks is found in the prospectus.

Investments in non-U.S. securities may involve risks different from U.S. securities, including risks from geographic concentration, differences in valuation and valuation times, unfavorable fluctuations in currency, differences in generally accepted accounting principles, and from economic or political instability.

Investments in emerging markets generally are less liquid, more volatile and riskier than investments in more developed markets and are considered to be speculative.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

"Solactive AG," a registered trademark of Solactive AG, and the “Solactive Metaverse Theme Index” has been licensed for use by ProShare Advisors LLC. ProShares based on the Solactive Metaverse Theme Index are not sponsored, endorsed, sold, or promoted by Solactive AG and they make no representation regarding the legality or suitability of ProShares, or the advisability of investing in ProShares. SOLACTIVE AG AND ITS AFFILIATES MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AND BEAR NO LIABILITY WITH RESPECT TO THE INDEXES, PROSHARES, OR THE FUND. Solactive AG uses its best efforts to ensure that the index is calculated correctly. Solactive AG has no obligation to point out errors in the index to third parties, including but not limited to investors and/or financial intermediaries.

ProShares ETFs are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor or sponsor.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005220/en/

Media Contact

Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com

Investor Contact

ProShares, (866) 776-5125, ProShares.com

Source: ProShares

FAQ

What is the VERS ETF launched by ProShares?

The VERS ETF is designed to capture investments in companies involved in the metaverse, tracking the Solactive Metaverse Theme Index.

How many companies are included in the Solactive Metaverse Theme Index?

The Solactive Metaverse Theme Index tracks 40 companies across various sectors related to the metaverse.

What does the VERS ETF aim to achieve for investors?

The VERS ETF aims to provide investors with access to innovative companies that could benefit from the metaverse's rapid growth.

What is the significance of ProShares' previous ETF, BITO?

BITO was the first bitcoin-linked ETF launched by ProShares in 2021, showcasing the firm's commitment to innovative investment opportunities.

What are the potential risks associated with the VERS ETF?

Investors face risks from a developing industry, including cyber-attacks, performance fluctuations, and sector volatility.