The ASX welcomed its newest exchange-traded fund (ETF) to its boards today. ETFs have been growing in both popularity and volume for years now.
Over the past 12 months, we have welcomed the BetaShares Online Retail and E-Commerce ETF (ASX: IBUY), the ETFS Hydrogen ETF (ASX: HGEN), and the BetaShares Crypto Innovators ETF (ASX: CRYP) to the ASX.
And today, the BetaShares Metaverse ETF (ASX: MTAV) joined this list.
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Metaverse ETF joins the ASX
Yes, as we covered this morning, this brand spanking new ETF has just floated on the ASX. As its name implies, it invests in a basket of global 'metaverse' shares.
As my Fool colleague Tony noted in his coverage, the metaverse is the term that refers to the idea that the internet will morph into a "massive unified virtual world".
It has been a term most associated with the social media giant Meta Platforms (NASDAQ: META), which of course used to be known as Facebook.
So it perhaps will come as no surprise that Meta stock is one of the largest holdings in this new ETF. But other well-known shares like Roblox, NVIDIA, Apple and Disney are also present in its 32-share strong portfolio.
So how did the BetaShares Metaverse ETF perform on its first day on the ASX?
Well, MTAV units only began trading at 12 noon today. The ETF debuted at a unit price of $10.56 each. As of market close, the ETF slipped slightly and finished the day at a price of $10.53, a fall of 0.28%.
So nothing too dramatic there. But there will probably be no investors with FOMO either.
The BetaShares Metaverse ETF charges a management fee of 0.69% per annum or $69 per year for every $10,000 invested.
