Investment Firm Betashares to Close Nine ETFs Including Metaverse Fund

Impending Closure of Betashares Metaverse ETF

Betashares, a leading provider of exchange-traded funds in Australia, has announced the closure of nine of its products, including the Betashares Metaverse ETF. Launched in August of this year, the Metaverse ETF aimed to capitalize on the growing interest in virtual worlds where users can engage in various activities.

Reasons Behind the Shutdown

Despite the Metaverse ETF delivering impressive returns of nearly 40% in 2022, Betashares has decided to shut down the fund. The move comes as a surprise to many investors, given the fund’s strong performance this year.

Market Response to the News

Investors are likely to closely monitor Betashares’ decision to close the Metaverse ETF, as it reflects the firm’s strategy amid evolving market trends. The closure of the fund raises questions about the viability of investments in the metaverse space.