Simplify Reveals Plans to Launch Web3 ETF

Proposed fund would invest in Web3- and metaverse-focused companies, as well as GBTC


Wall street and the building in New York, New York Stock Exchange. Source: Shutterstock


key takeaways

  • Proposed fund to invest in companies focused on the shift from a centralized self-hosted hardware infrastructure to a decentralized cloud infrastructure
  • Like the firm’s US Equity PLUS GBTC ETF (SPBC), the newly proposed fund may invest up to 10% of its assets in the Grayscale Bitcoin Trust (GBTC)

Simplify ETFs is looking to launch a fund that would invest primarily in what it considers to be Web3 and metaverse companies in the US and abroad. 

The New York-based investment firm has 16 ETFs trading in the US with combined assets of roughly $1 billion, according to

Simplify launched its US Equity PLUS GBTC ETF (SPBC) in May 2021. The fund, which has $114 million in assets, primarily invests in US equities while also offering investors a 10% exposure to bitcoin through the Grayscale Bitcoin Trust (GBTC).

The firm now looks to go deeper into the crypto space by launching the Simplify Volt Web3 ETF (WIII), according to a disclosure filed on Wednesday. The proposed fund, which would be sub-advised by Volt Equity, is set to charge a management fee of 95 basis points, the document notes.

“Web3 companies are companies that the sub-adviser believes are focused on and expected to benefit from shifting the bases of technology infrastructure from a centralized self-hosted hardware infrastructure to a decentralized cloud infrastructure,” the filing states. “The companies will use, help others use, or significantly be reliant upon Web3 technology, which is generally verifiable, trustless, self governing and distributed and may include metaverse companies.”

The document labels metaverse companies as those helping bring a computerized virtual environment to the masses. The metaverse could play a large part in internet innovation, the filing states, as it may allow users to own pieces of digital property through NFTs or other digital tokens.

Though the planned product would not invest in cryptocurrencies directly or through the use of derivatives, the fund may invest up to 10% of its assets in the Grayscale Bitcoin Trust (GBTC).

There is no ETF in the US with Web3 in its name, but there are several focused on the metaverse. 

Roundhill Investments’ Roundhill Ball Metaverse ETF (META), which launched in June, has about $915 million in assets, data shows. Exchange Traded Concepts launched the Fount Metaverse ETF (MTVR) in October, and that fund has about $13 million.

Fund managers First Trust and ProShares filed for metaverse ETFs last month. 

Lara Crigger, managing editor of ETF Trends, said during a podcast earlier this month that she believes the metaverse is “a little thin on the ground when it comes to investability.” 

An executive at Simplify declined to comment beyond the filing.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Cover Vertex.jpg


The proliferation of new perp DEXs has led to fragmented liquidity across various DEXs and chains. Vertex, known for its vertically-integrated DEX that includes spot, perpetual, and integrated money markets, is now tackling cross-chain liquidity fragmentation through horizontal integration with the launch of new Edge instances. Vertex's integrated offerings and cross-margined account structure amplify the benefits of new instances: native cross-chain spot trading, optimized cross-chain basis trading, consistent interest rates, reduced bridging friction, and more.


Plus, a dive into crypto’s ever-expanding unicorn club


Also, tokenization continues to grab headlines and one bitcoin miner stock soars Tuesday after inking a big deal


Fifteen million daily failed transactions disappeared from Solana


FTX debtors will pay the IRS $200M, with an outstanding lower priority claim of $685M


I’ve come to the realization that more attention is needed to create and sculpt the digital spaces where we live


The NYSE went down yesterday after a glitch caused a string of erroneous trades. Does DeFi fix this?