News
Franklin Templeton Adds AI and Blockchain to Metaverse ETF
Franklin Templeton is expanding its metaverse ETF to add artificial intelligence and blockchain exposure.
Consequently, the Franklin Metaverse UCITS ETF (METU) will see its name changed to Franklin AI, Metaverse and Blockchain UCITS ETF.
The ETF, which tracks the Solactive Global Metaverse Innovation Index, will increase the number of companies from 60 to 75.
Themes within the index will also be simplified from seven to four categories, including the metaverse ecosystem, blockchain technology, digital asset platforms, and artificial intelligence applications and services.
The ETF’s investment objective – to provide exposure to technologies to offer products and services across the metaverse and support blockchain technologies – will remain the same.
The changes will take place on June 7th.
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 having grown to a conservative $3.6 million since its inception.
HANetf recently revised 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 closing its Metaverse ETF just 18 months after launch.