Second Metaverse ETF Listed on NYSE
World's First Subscription Economy Theme ETF Listed
[Asia Economy Reporter Minji Lee] AI investment specialist Fount announced on the 29th that two thematic exchange-traded funds (ETFs) focused on subscription economy and metaverse have been listed and started trading on the New York Stock Exchange (NYSE).
For this listing, Fount submitted disclosure documents to the U.S. Securities and Exchange Commission (SEC) in July, and after a 75-day review period, the ETFs were officially listed on the NYSE on the 28th. Instead of acquiring an overseas ETF specialist management company, Fount chose to create its own indices and plan ETF products to enter the U.S. market directly.
The two ETFs listed by Fount on the NYSE are the Metaverse Thematic ETF (ticker: MTVR), which focuses on the virtual world where social, economic, and cultural activities take place similarly to reality, and the Subscription Economy Thematic ETF (ticker: SUBS), a new concept distribution service where users receive desired products or services on a regular basis.
The Metaverse Thematic ETF is the first ETF to track the ‘Fount Metaverse Index,’ a metaverse-themed index independently developed by Fount, making it the second ETF to be listed on the NYSE within three months. It invests in companies such as Roblox, a U.S. gaming metaverse platform company, and Naver, which provides the augmented reality avatar app service Zepeto.
The Subscription Economy Thematic ETF is the world’s first subscription economy-themed ETF, tracking the ‘Fount Subscription Economy Index,’ also independently developed by Fount. It invests in companies offering subscription services such as Netflix, an online streaming service, and Amazon, which provides cloud servers in a subscription model.
While the metaverse theme includes companies pursuing technological innovation for new future spaces, the subscription economy theme includes companies pursuing business innovation through new business models. In the process of calculating the indices, machine learning techniques are used to estimate revenue forecasts from the respective themes over the next year to select companies that fit the theme and determine their weights.
Fount CEO Youngbin Kim stated, “By directly planning and developing ETF products and listing them on the NYSE, Fount has secured a foothold for global market entry,” adding, “We plan to accelerate our overseas market expansion starting with this listing.”
Meanwhile, starting with this ETF listing, Fount plans to continuously launch ETFs that invest in companies listed on more than 10 stock exchanges worldwide by developing indices that identify rapidly growing industries through news articles and search terms based on AI technology.
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