By Swann Collins, investor, writer and consultant in international affairs. Eurasia Business News – February 20, 2022

Hong Kong has moved another step towards adoption of Metaverse. Photo credit : Pexels.

Hong Kong business circles have taken another major step towards the Metaverse. CSOP Asset Management announced the creation of the nation’s first Metaverse Exchange-traded Fund (ETF). The fund will trade on the Hong Kong Stock Exchange from February 21, 2022.

CSOP has announced the management and investment strategy it will follow to achieve its investment objective. It was announced that in connection with the metaverse, the company will invest mainly in US-listed companies and will implement an active management strategy.

The exchange-traded fund (ETF)’s current portfolio comprises 46 US-listed technology stocks with US$5.2 trillion in combined capitalisation, including Apple, Facebook’s parent Meta, WeChat’s operator Tencent Holdings, the 3D graphics processor maker Nvidia and the online games platform Roblox.

Metaverse Concept ETF startup received an initial investment of around $9 million, according to a document released by the Hong Kong CSOP.

As you know, the technological giants allocate huge resources to the industry of the metaverse. Facebook changed the name of the company to META to reflect their passion for Metaverse development.

Having bought an American virtual reality technology company known as Oculus in 2014 for $ 2 million, Facebook recently introduced virtual offices called Horizontal Workrooms.

Metaverse is commonly seen as the cutting edge form of virtual reality technology. But there are also those who see it as the “future of the Internet.” With Metaverse technology, users can enter the virtual world, where all digital environments are connected, using only glasses and headphones.

CSOP has given details and announced that Metaverse will combine physical spaces, 2D Internet experiences such as computer games, with virtual reality (VR) and augmented reality (AR) technologies. Given the huge growth potential of Metaverse, the global AR/VR market is expected to reach approximately $300 billion by 2024.

According to the CSOP, it was said that the global metaverse market should grow from approximately $5 million in 2020 to $1.5 trillion in 2030, representing a 253% increase.

Read also : Why cryptocurrencies can help liberal democracies

It is believed that the Metaverse represents the beginning of a completely new era in which a new parallel world will be created. Associate CEO Melody He explained that they are optimistic about future thematic investments and strongly believe that the addition of the Metaverse Concept CSOP ETF to their product line will further satisfy all of our investors’ investment needs.

Metaverse ETFs have been in the news since last year, when South Korea announced the launch of the first four Metaverse ETFs in Asia. According to reports, the ETFs have garnered quite a bit of attention, raising nearly $100 million in just two weeks. Meanwhile, Morgan Stanley bank estimates that in China alone, the metaverse could reach a market capitalization of $8 trillion.

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© Copyright 2022 – Swann Collins, investor and consultant in international affairs. He has published over 100 articles specializing in economy, finance and investments. His new book was released in January 2022 : Gold, Build your Wealth and Freedom