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How did the BetaShares Metaverse ETF perform on its ASX debut?

How did the new ASX Metaverse ETF performed on its first day?
The post How did the BetaShares Metaverse ETF perform on its ASX debut? appeared first on The Motley Fool Australia. –

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.

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.

The post How did the BetaShares Metaverse ETF perform on its ASX debut? appeared first on The Motley Fool Australia.

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More reading

5 tech stocks sending the Nasdaq higher on Wednesday
How to buy ASX shares exposed to the metaverse
Why are ASX 200 tech shares having such a lousy start to the week?
Headwinds will slow growth for Meta; Should investors sell now?

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Apple, Meta Platforms, Inc., Nvidia, and Walt Disney. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Meta Platforms, Inc., Nvidia, Roblox Corporation, and Walt Disney. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2024 $145 calls on Walt Disney, long March 2023 $120 calls on Apple, short January 2024 $155 calls on Walt Disney, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple, Meta Platforms, Inc., Nvidia, and Walt Disney. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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