Invesco Introduces a Metaverse-Oriented Investment Fund: Report

The American investment management company – Invesco – reportedly launched a Metaverse fund, which will invest in large, medium, and small-cap firms that have stretched their operations to the virtual reality.

Last year, the investment giant filed documents to launch two crypto-based ETFs in the USA. Several months later, though, it blamed the US SEC for its unfriendly stance on such products and abandoned its plans.

Hopping on the Metaverse Bandwagon

According to a coverage by Citywire, the latest prominent entity to join the Metaverse club is the multinational investment corporation – Invesco. It released a fund that will invest in American, Asian, and European companies that have a presence in the augmented reality.

Tony Roberts will act as Manager of the feature, while James McDermottroe will serve as a Deputy Fund Manager. Both executives are part of Invesco’s UK-based Asia & Emerging Markets equities team.

The Invesco Metaverse fund will focus on several strategic areas, including next-generation operating and computer systems, networks for hyperconnectivity, immersive platforms developed with artificial intelligence, and hardware and devices that provide access to the Metaverse.

Commenting on the initiative, Roberts predicted that by 2030 virtual and augmented reality could deliver a $1.6 trillion boost to the global economy.

“While the Metaverse’s applications to entertainment are increasingly well-understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education, and sport. We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach,” he added.

For his part, Alexander Millar – Head of UK distribution at Invesco – said the investment giant always seeks to provide clients with “best-in-class solutions,” and the Metaverse is “certainly” one of those options.

“Our experienced Asia & Emerging Markets team is uniquely well-placed to pick the winners of this emerging global megatrend through its disciplined and robust fundamental approach,” he concluded.

Invesco’s Crypto ETF Efforts

Last year, the investment company with over $1.6 trillion in assets under management displayed its intentions to release two cryptocurrency-focused exchange-traded funds (ETFs): the Invesco Galaxy Crypto Economy ETF and the Invesco Galaxy Blockchain Economy ETF.

At the end of 2021, though, the firm withdrew its plans blaming the US SEC’s inappropriate rules. Anna Paglia – Global Head of ETFs and Indexed Strategies at Invesco – also said the product would have been too “costly” for investors.

However, several days later, the entity listed a Bitcoin Spot ETN on the German stock market operator “Xetra.” The feature, called “Invesco Physical Bitcoin” ETN (ticker: BTIC), offers “physically secured access to Bitcoin performance.”

The post Invesco Introduces a Metaverse-Oriented Investment Fund: Report appeared first on CryptoPotato.

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