Franklin Templeton is renaming its Dublin-registered Franklin Metaverse UCITS ETF to the Franklin AI, Metaverse and Blockchain UCITS ETF, effective June 7, 2024.
The name change reflects the fund's exposure across multiple emerging industries. The underlying index methodology is also being enhanced, increasing constituent companies from 60 to 75 as the segment evolves.
The current seven themes within the index will be consolidated into four main categories: Metaverse Ecosystem, Blockchain Technology, Digital Asset Platforms, and AI Applications and Services. Franklin stated the changes provide greater clarity to investors without altering the ETF's investment objective.
The additions of AI and Blockchain to the fund name signal the strategy's broadening exposure beyond the metaverse concept, recognising more companies now qualifying for inclusion as this area develops.