23 May 2024
Franklin Templeton is renaming its Dublin-registered Franklin Metaverse UCITS ETF to "Franklin AI, Metaverse and Blockchain UCITS ETF" effective June 7, 2024.
The name change aims to better reflect the ETF's exposure across multiple nascent industries in the underlying index.
The index methodology is also being enhanced to increase the number of constituent companies from 60 to 75 as the segment evolves.
The current seven themes within the index will be simplified to four main categories: Metaverse Ecosystem, Blockchain Technology, Digital Asset Platforms, and AI Applications and Services.
These changes provide greater clarity to investors but do not alter the ETF's investment objective.
The additions of "AI" and "Blockchain" to the name signal the strategy's exposure beyond just the metaverse concept.
Franklin stated the enhancements recognize more companies now qualifying for inclusion as this innovative area develops rapidly.
Consolidating themes into four core categories aims to improve transparency around the various technologies and applications driving this space forward.