Invesco Has A New Metaverse-Oriented Investment Fund

Invesco has a new metaverse-oriented investment fund, which will have a diverse portfolio and will invest in major, medium, and small-cap enterprises, that of course have operations in virtual reality.

Invesco is an American investment management business.

Last year, the financial firm filed paperwork to create two crypto-based ETFs in the United States. However, it eventually criticized the US SEC for its unfavorable attitude on such items and abandoned its ambitions.

All Aboard The Metaverse Train

According to Citywire, the international financial giant Invesco is the latest big business to join the Metaverse club. As stated earlier Invesco has a new metaverse-oriented investment fund that will invest in American, Asian, and European enterprises with an augmented reality footprint.

Tony Roberts will be the feature’s Manager, with James McDermottroe serving as a Deputy Fund Manager. Both professionals work for Invesco’s Asia & Emerging Markets equities unit in the United Kingdom.

The Invesco Metaverse fund will concentrate on numerous critical areas, including next-generation operating and computer systems, hyperconnectivity networks, immersive platforms built with artificial intelligence, and hardware and gadgets that allow Metaverse access.

In a statement on the effort, Roberts claimed that by 2030, virtual and augmented reality may benefit the world economy by $1.6 trillion.

“While the Metaverse’s applications to entertainment are increasingly well-understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education, and sport. We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach,” he added.

Invesco’s Head of UK Distribution, Alexander Millar, stated that the investment firm always attempts to give customers with “best-in-class solutions,” and the Metaverse is definitely one of those alternatives.

“Our experienced Asia & Emerging Markets team is uniquely well-placed to pick the winners of this emerging global megatrend through its disciplined and robust fundamental approach,” said Millar.

Invesco’s ETF Efforts

The investing firm, which manages more than $1.6 trillion in assets, announced its plans to launch two exchange-traded funds (ETFs) with a focus on cryptocurrencies last year: the Invesco Galaxy Crypto Economy ETF and the Invesco Galaxy Blockchain Economy ETF.

However, by the end of 2021, the corporation had withdrawn its intentions, blaming the US SEC’s improper requirements. According to Anna Paglia, Global Head of ETFs and Indexed Strategies at Invesco, the product would have been too “expensive” for investors.

Several days later, however, the firm registered a Bitcoin Spot ETN on the German stock exchange operator “Xetra.” The “Invesco Physical Bitcoin” ETN (ticker: BTIC) feature provides “physically protected access to Bitcoin performance.”

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