Many educational institutes adopt immersive learning environments (ILEs) for their positive contribution to learning outcomes. However, challenges reflecting a wide range of serious ethical issues and concerns also evoke a degree of apprehension in its integration by educators and researchers. This study identifies the ethical issues and risks associated with integrating Metaverse technologies into educational settings. It also focuses on the voices of Metaverse experts with the idea of a safe and educationally immersive environment. A qualitative approach was used in which in-depth interviews of the experts on ethical issues were conducted. According to the experts’ perspectives, key ethical issues and risks are highlighted, such as data privacy, security, policies, hyperreality, loss of social skills, and negligence of physical health. The findings also emphasize the importance of the Metaverse-related considerations, including design, policies, universities’ roles, and safety concerns for equality, diversity, and inclusion (EDI). Based on the findings, we recommend enhancing the Metaverse design environments by integrating ethical frameworks and policies to ensure safe and inclusive environments for teachers and students.