SoFi Technologies, a major provider of online personal financing services, announced it had launched a Web3-based exchange-traded fund (ETF) for cryptocurrencies, blockchain, and other emerging technology investments, the Wall Street Journal reported on Tuesday. The San Francisco-based bank will use the new ETF to track its Solactive ARTIS Web3 Index, which targets non-fungible tokens (NFTs), blockchain, the Metaverse, and artificial intelligence and big data. Anthony Noto, Chief Executive of SoFi, said in a statement,“There is a clear interest from our members to invest in Web 3. The SoFI Web 3 ETF provides a diversified way to invest in blockchain and crypto without the single-entity risk of one coin or one company”The news comes just months after the HBAR Foundation opened a Metaverse Fund totalling $250 million USD to support its Hedera blockchain ecosystem. Numerous Metaverse ETFs have surfaced in recent months, namely Subversive, Roundhill Ball, ProShares Metaverse Theme, and others.
Source: Libya Today August 09, 2022 18:15 UTC