The funding firms Aditya Birla Mutual Fund and Navi Mutual Fund are looking forward to launch schemes that will invest in companies in the metaverse space and also Blockchain exchange-traded funds (ETF).
As per reports, both the firms have filed papers with the Securities and Exchange Board of India (Sebi) to explore both the blockchain ecosystem and virtual digital space.
The papers filed with Sebi by Birla MF, reveals these funds are meant to offer long-term capital appreciation with investments in the units of exchange-traded funds (ETFs) focussing on the global blockchain subject (including virtual digital assets).
In like manner, the aim of papers filed by Navi MF is to offer long-term capital appreciation with investments in units of overseas ETFs. The other goal is to provide index funds invested in companies active in metaverse development and companies that stand to benefit from metaverse advancement.
Last year, Navi Mutual Fund had filed for a Blockchain Index Fund of Funds (FoF) with Securities and Exchange Board of India (SEBI).
After Sebi assesses papers, the fund houses will be launching these schemes, offering Indian investors to invest in firms in this booming technology space.
Blockchain technology forms the bed-rock of cryptocurrencies and non-fungible tokens. Lately, this technology, which was originally deemed as a means to power the virtual world, is now used in the real world too, including areas like health care, e-governance and noble environment causes too.
