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Invesco Introduces Metaverse Oriented Investment Fund: Report

The Invesco Metaverse Fund will invest in US, European and Asian companies to support the development of virtual reality worlds.

American investment management company Invesco is reported to have launched a Metaverse fund, which will invest in large, mid and small cap companies that have expanded their operations into virtual reality.

Last year, the investment giant filed documents to launch two crypto-based ETFs in the United States. However, a few months later, it blamed the US SEC for its unfriendly stance on such products and abandoned its plan.

Dance on the Metaverse Bandwagon

As reported by Citywire, the latest prominent organization to join the Metaverse club is the multinational investment group – Invesco. It has released a fund that will invest in US, Asian and European companies with a presence in the augmented reality sector.

Tony Roberts will serve as the feature’s Director, while James McDermottroe will serve as the Fund’s Associate Director. Both executives are from the UK-based Invesco’s Asia & Emerging markets team.

The Invesco Metaverse Foundation will focus on several strategic areas, including next-generation operating systems and computer systems, hyper-connected networks, immersive platforms developed with artificial intelligence, and software. hardware and devices that provide access to Metaverse.

Commenting on the initiative, Roberts predicts that by 2030, virtual and augmented reality could bring a $1.6 trillion boost to the global economy.

“While Metaverse’s applications for entertainment are increasingly understood, the interconnectedness it enables is likely to 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, pricing-conscious approach,” he added.

For his part, Alexander Millar, Invesco’s UK head of distribution, said the investment giant is always looking to provide customers with “best-in-class solutions” and that Metaverse is “definitely”. is one of those options.

He concludes: “Our experienced Asia & Emerging Markets team is particularly well positioned to select the winners of this emerging global trend through a disciplined fundamental approach. lawful and strong”.

Invesco’s Crypto ETF Effort

Last year, the investment firm with over $1.6 trillion in assets under management expressed its intention to issue two crypto-focused exchange-traded funds (ETFs): Invesco Galaxy Crypto Economy ETF and Invesco Galaxy Blockchain Economy ETF.

However, at the end of 2021, the company withdrew the plan due to inappropriate rules of the US SEC. Anna Paglia, global director of ETFs and Indexed Strategies at Invesco, also said the product would be too “expensive” for investors.

However, a few days later, the institution listed Bitcoin Spot ETN on the German stock market operator “Xetra”. The feature, called the “Invesco Physical Bitcoin” ETN (ticker: BTIC), provides “physically secured access to Bitcoin’s performance.”

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