Invesco has a new metaverse-focused investment fund with a diversified portfolio that will invest in large, mid-sized, and small-cap companies that operate in virtual reality.
Invesco is a U.S.-based investment management firm.
The financial institution submitted paperwork in 2017 to establish two crypto-based ETFs in the United States. In the end, however, it attacked the US SEC for its adverse stance on such products and abandoned its goals.
All aboard the Metaverse Express!
According to Citywire, Invesco is the most recent major corporation to join the Metaverse. As previously reported, Invesco has a new metaverse-focused investment fund that will invest in U.S., Asian, and European companies with an augmented reality presence.
Manager of the feature will be Tony Roberts, with James McDermottroe serving as Deputy Fund Manager. Both individuals are employed by Invesco’s Asia & Emerging Markets unit in the United Kingdom.
The Invesco Metaverse fund will focus on multiple crucial sectors, including next-generation operating and computer systems, hyperconnectivity networks, immersive platforms developed with artificial intelligence, and Metaverse-accessible products and gadgets.
Roberts stated in a statement that by 2030, virtual and augmented reality might contribute $1.6 trillion to the global economy.
The head of UK distribution for Invesco, Alexander Millar, has claimed that the company strives to offer its clients “best-in-class solutions,” one of which is the Metaverse.
Investing in Exchange-Traded Funds: Invesco’s Efforts
The Invesco Galaxy Crypto Economy ETF and the Invesco Galaxy Blockchain Economy ETF were both announced for release by the investment management firm in 2018. Together, they represent a market capitalization of about $1.6 trillion.
By the end of 2021, however, the firm had reversed course, citing unsuitable regulations from the US SEC as the reason. Investors would have found the product too “expensive,” according to Anna Paglia, global head of ETFs and indexed strategies at Invesco.
However, the company eventually listed a Bitcoin Spot ETN with the German stock market operator “Xetra.” “Physically safeguarded access to Bitcoin performance” is what the “Invesco Physical Bitcoin” ETN (ticker: BTIC) is all about.