Metaverse ETF Report | March 2024

Metaverse ETF Macro Outlook

Please note that effective of the 9th of February, the ETC Group Digital Assets and Blockchain Equity UCITS ETF merged into the ETC Group Global Metaverse UCITS ETF. Read more here.

The overall bullish market sentiment in February also affected crypto-related equities in particular. More specifically, the ETC Group Global Metaverse UCITS ETF (METR) returned +4.0% in EUR-terms.

Among the index constituents, there were larger performance divergences in February.  For instance, while the largest index constituent Meta Platforms outperformed with +26.2% in February, Snap Inc underperformed significantly (-30.3%) as Snap’s company revenues fell short of consensus expectations. So, the overall performance of the ETF was somewhat negatively affected by company-specific developments.

The Metaverse ETF continues to be highly correlated to the underlying developments within the metaverse ecosystem and digital asset markets.

Major holdings leveraged to digital asset markets such as Coinbase or Block Inc also delivered high double-digit returns in February.

From the macro side, the Fed continued to guide markets towards later interest rates cuts, which the market expects to start in June 2024. Nonetheless, risk assets like equities continued to rally on account of rising risk appetite that we also observed within crypto markets.

A stabilization of Chinese growth expectations due to increasing regulatory market interventions and PBoC liquidity injections generally improved overall market sentiment as well.

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Sources available upon request. All performance figures are showing net data. Past performance is not indicative of future performance and when you invest in ETFs your capital is at risk.

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Metaverse ETF Performance
As of 29.02.2024

ETC Group Global Metaverse UCITS ETF5.41%11.94%23.68%2.43%48.07%N/A33.93%
Solactive ETC Group Global Metaverse Index5.44%12.08%24.24%2.52%49.32%2.66%35.58%

Please note that all performance figures are showing net data. Source: Bloomberg / HANetf. Data as of 29/02/2024

Performance before inception is based on back tested data. Back testing is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such strategy would have been. Back tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in this product. When you invest in ETFs and ETCs, your capital is at risk.

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