Franklin Templeton is expanding its metaverse ETF to highlight and boost artificial intelligence and blockchain exposure.
As a result, the Franklin Metaverse UCITS ETF (METU) will see its name changed to the Franklin AI, Metaverse and Blockchain UCITS ETF.
The ETF, which tracks the Solactive Global Metaverse Innovation index, will increase the number of companies increase from 60 to 75.
Themes within the index will also be simplified from seven categories to four, which include metaverse ecosystem, blockchain technology, digital asset platforms, and AI applications and services.
The ETF's investment objective – providing exposure to technologies to offer products and services around the metaverse and supporting blockchain technologies - will stay the same.
The changes will take place on 7 June.
METU’s top three holdings are Nvidia (8.2%), Meta Platforms (5.4%) and Coinbase Global (5%).
Franklin Templeton launched METU in September 2022, with assets growing to a conservative $3.6m since its inception.
HANetf recently overhauled its metaverse ETF into a ‘Web 3.0’ strategy, with a new name and index alongside broadening its sector exposure.
Roundhill Investments exited the European ETF market last October after announcing the closure of its metaverse ETF just 18 months after launching.
