With more investors and companies venturing into ETFs, Permission.io CEO Charlie Silver believes the ETF business is more marketing than anything else. He said regulators and institutional investors find the Web3 theme more attractive and palatable.
As such, Silver feels the internet is the most important technological innovation in the history of mankind. Investors are very keen to invest in the world wide web’s future. Silver noted that while crypto is popular, institutional investors still have problems with it. He pointed out Web3 as an opportunity to get involved in the next innovation, of which crypto is a huge part. But it’s not called crypto.
Tad Park, the CEO of Volt Equity, says there is a whole side to cryptocurrencies that does not focus on bitcoin. He highlighted that a person is actually investing in the ideas, the software and its future potential. There are people who are more interested in what it can be used for and pointed out Web3.
Silver believes there will be about half a dozen Web3 ETFs in the next six months. And expects large ETF issuers like State Street Global Advisors or BlackRock to be involved. The executive says such funds will wake up the venture capital and private equity communities. This will generate more attention.
2021 was a great year for ETFs and it’s much likely and hoped that the trend will continue in 2022 as well. It should be noted that a number of metaverse ETFs are already trading in the United States. This includes Roundhill Investment’s Roundhill Ball Metaverse ETF (META). First Trust and ProShares are expected to be part of it as well as these fund managers filed for metaverse ETFs in December 2021. Defiance ETFs had also launched its Digital Revolution ETF (NFTZ) in December. It will offer exposure to the NFT, blockchain, and cryptocurrency ecosystems.