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  • PWC

Metaverse Emerging As Trend

The metaverse looks set to emerge as a fast-growing trend in the European fund sector as virtual reality and the next iteration of the internet take off, says Cerulli Associates. The metaverse is the fastest-growing sub-theme in terms of number of funds launched. Around a dozen open-end funds and exchange-traded funds (ETFs) are targeting the metaverse in Europe, with combined assets under management (AuM) of US$98 million as of January 2023. Globally, there were 59 metaverse funds as of December 2022, including 35 sub-theme metaverse ETFs. However, the AuM of European metaverse funds remains low globally. This could be partly because retail investors seem reluctant to enter the market, possibly after suffering disappointments with crypto and blockchain-related investments. “We see some managers adopting a wait-and-see approach in this domain in a bid to better identify the best new ideas that could attract investors’ interest and to avoid running the risk of reputational damage given the recent troubles experienced in the crypto space,” says Fabrizio Zumbo, a director at Cerulli.


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