BlackRock has announced the launch of its new exchange-traded fund (ETF) as it looks to capitalize on the success of the metaverse.

The venture capital giant’s investment platform, called iShare Metaverse UCITS, gives European clients targeted exposure to a wide variety of companies active in developing metaverse technologies.

According to a statement issued by BlackRock, the iShares Metaverse UCITS ETF [MTAV] will “scan the STOXX Global Metaverse Index, which uses EconSight’s unique patent data analysis to identify companies that are market leaders, innovators, and specialists in the field of metaverse technologies.”

Companies are included based on the quality of their innovative activity through an assessment of the patents they apply for. Presentation and publication of…