One of the largest asset managers in the world, BlackRock Inc (NYSE:BLK), has now entered the growing competition in the metaverse ETF space with its launch of the iShares Future Metaverse Tech and Communications ETF (NYSE:IVRS).

This new ETF will provide investors with opportunities to invest in companies that manufacture both the hardware and software for the metaverse, which is a virtual world that combines social media, digital platforms, gaming, and augmented and virtual reality.

The iShares Future Metaverse Tech and Communications ETF is now trading on the New York Stock Exchange and has an expense ratio of 0.47%.

This expense ratio is lower than its competitors, such as the Roundhill Ball Metaverse ETF (NYSE:METV), ProShares Metaverse ETF (NYSE:VERS), and Subversive Metaverse ETF (BATS:PUNK).

Only the Fidelity Metaverse ETF (NASDAQ:FMET) is the only fund among the four that has a lower expense ratio of 0.39%.

Also read: New Metaverse ETF Launches From Roundhill Investments: What Investors Should Know

The iShares Future Metaverse Tech and Communications ETF's holdings include Meta Platforms Inc (NASDAQ: META), the parent company of Facebook and Oculus, with 6.31% weightage, followed by Apple Inc (NASDAQ: AAPL) with 5.71%, Nvidia (NASDAQ: NVDA) with 5.47%, NetEase Inc (NASDAQ:NTES) with 5.18%, and Roblox (NYSE: RBLX) with 4.90%.

With the metaverse representing an innovative industry with considerable potential, BlackRock has ventured into the space to offer investors new opportunities to invest in companies that are driving the future of the technology.

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