The two exchange-traded funds, set to start trading on the Toronto Stock Exchange Monday, are designed to give investors exposure to companies that stand to benefit from the buzzy concept of interconnected virtual worlds. (The Logic)

Talking point: The metaverse is hot right now—hot enough to make the company formerly known as Facebook change its name, investors spend millions of dollars on virtual land and U.S. crypto giant Grayscale predict a U.S.$1-trillion revenue opportunity. Horizon and Evolve join Roundhill Investments in launching metaverse-themed ETFs, a move that has proven lucrative for the U.S. ETF issuer. Evolve’s metaverse ETF will be actively managed, while Horizons will track the performance of an index that includes prominent corporate giants such as Apple, Mastercard and Disney. Horizons chief executive Steve Hawkins acknowledged there’s a lot of hype around the metaverse (“Do I think there’s a potential for it to be a fad from a discussion perspective? Probably, yes”), but said he thinks the concept has the potential to radically change how we relate to each other and technology.