Investment firm Multicoin Capital has teamed up with cryptocurrency index fund manager Bitwise and venture capitalist Matthew Ball to roll out a new metaverse index, according to a Coindesk report.
Dubbed the Ball Multicoin Bitwise Metaverse Index, which includes up to 40 cryptocurrency assets. It will also have a corresponding fund that will track its performance, to be offered through Bitwise.
Sources close to the matter said Ball, Multicoin Capital Managing Partner Kyle Samani, and Bitwise Chief Investment Officer Matt Hougan will be among those who will serve on the index committee, which will decide on the index inclusions and their weighting.
Ball said the index will draw on a list of liquid digital tokens which pass risk screens such as developer activity, revenues, and fit to the metaverse category to ensure that such tokens are appropriate for professional investors.
Samani said the metaverse is among the “most audacious and exciting” ideas conceived, noting that “underwriting the most investable opportunities is a never-ending challenge.”
The Ball Multicoin Metaverse Index Fund will be initially available to select investors with a minimum investment of $100,000, and monthly redemptions. METV is up 0.77%, while VERS is down 0.83%.