Invesco Offers Investors Exposure to Metaverse
ETF titan’s newest fund, available to investors in Europe, will focus on companies developing the space’s infrastructure
Blockworks exclusive art by axel rangel
key takeaways
- “The interconnectivity that [the metaverse] enables will likely have a transformative impact across industries,” fund co-manager says
- Invesco launched two crypto-related ETFs in the US last October
Asset management giant Invesco has launched a metaverse fund as it sees a particularly large opportunity in companies developing the infrastructure required for the space to reach its true potential.
The actively managed fund will invest in companies of all sizes across the US, Asia and Europe and will be available to investors in 14 European countries.
Tony Roberts and James McDermottroe, members of Invesco’s UK-based Asia and emerging markets equities team, will co-manage the fund, the firm revealed Monday.
Roberts cited estimates from PwC in 2020 that virtual and augmented reality could deliver a £1.4 trillion boost to the global economy by 2030.
“While the metaverse’s applications to entertainment are increasingly well-understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education and sport,” Roberts said in a statement. “We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach.”
The fund focuses on seven areas, one of which is blockchain. It also is set to invest in devices that offer access to the metaverse, tools allowing interoperability and services that will facilitate the digitization of the real economy.
It is available to investors in the United Kingdom, Germany, France, Netherlands, Finland, Czech, Sweden, Austria, Belgium, Italy, Luxembourg, Norway, Slovakia and Spain, a spokesperson told Blockworks.
Invesco funds with exposure to blockchain
Invesco managed roughly $1.4 trillion in assets as of June 30. The fund group partnered with Elwood Asset Management in March 2019 to launch a blockchain ETF on the London Stock Exchange.
The company revealed in September 2021 that it was teaming up with Galaxy Digital to create a suite of physically backed digital assets ETFs. It brought to market its Invesco Alerian Galaxy Crypto Economy ETF (SATO) and its Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF the following month. The funds have less than $10 million in assets under management combined.
Rene Reyna, the firm’s head of thematic and specialty ETF strategy, told Blockworks in an email earlier this month that digital assets remains an emerging investment theme requiring education for many investors.
“We are committed to the digital asset space and will continue to monitor investor demand and product development opportunities,” she said.
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- 0xResearch: Alpha in your inbox. Think like an analyst.
- Empire: Crypto news and analysis to start your day.
- Forward Guidance: The intersection of crypto, macro and policy.
- The Drop: Apps, games, memes and more.
- Lightspeed: All things Solana.
- Supply Shock: Bitcoin, bitcoin, bitcoin.
