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Franklin Templeton Adds AI and Blockchain to Metaverse ETF
Artificial Intelligence – AI – Invest – Stocks
Franklin Templeton is expanding its metaverse ETF to add artificial intelligence and blockchain exposure.
As a result, the name of the Franklin Metaverse UCITS ETF (METU) will change to Franklin AI, Metaverse and Blockchain UCITS ETF. The fund, which tracks the Solactive Global Metaverse Innovation Index, will add 15 more companies to its portfolio, bringing it to 75.
Themes within the index will also be divided into four categories of seven, which include the metaverse ecosystem, blockchain technology, digital asset platforms, and artificial intelligence applications and services.
The ETF’s investment objective of providing exposure to technologies to offer products and services across the metaverse and supporting blockchain technologies will remain the same. The changes will take place on June 7th.
Franklin Templeton Metaverse Fund Holdings
METU’s top three holdings are Nvidia (8.2%), Meta Platforms (5.4%), and Coinbase Global (5%).
Franklin Templeton launched METU in September 2022, with assets growing to a conservative $3.6 million since its inception.
HANetf recently overhauled its metaverse ETF into a “Web 3.0” strategy, with a new name and index as well as broadening its sector exposure.
Roundhill Investments exited the European ETF market last October after announcing the closure of its metaverse ETF just 18 months after launch.
In the United States, Franklin Templeton manages $17.6 billion across 60 ETFs. The largest is the Franklin FTSE Japan ETF (FLJP) with $2.09 billion in assets. Over the past year, the best performing Franklin Templeton ETF was FLJH at 36%. The most recent ETF launched in the Franklin Templeton space was the Franklin Bitcoin ETF (EZBC) on January 11th.
The company, which focuses on stock, bond and domestic funds, has no metaverse ETFs in the United States. The fund most similar to the British product is probably the $20.9 million one. Franklin Intelligent Machines (IQM) ETFwhich has gained 38% in the last year.
In the latest episode of etf.com by Let’s talk about ETFsPatrick O’Connor, global head of ETFs at Franklin Templeton, discusses expanding the company’s ETF offerings.
This article originally appeared in etf.com’s sister publication, ETF Stream.
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