Investment

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First Ever NFT ETF Launches

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As NFTs take over the marketplace, they are rising in value and becoming a part of mainstream portfolios, and they are taking the next step with an ETF. Defiance ETF is launching the first-ever NFT-based ETF as a bet on the growth of this asset class. The fund will offer exposure to NFTs, blockchain and crypto ecosystems, and NFT marketplaces. Defiance co-founder and CIO, Sylvia Jablonski, backed up the move by saying, “NFTs could be bigger than the internet. In October, all-time NFT trading volume surpassed $15 billion.” The new ETF will track the BITA NFT and Blockchain Select Index, will rebalance on a quarterly basis, and stocks in the fund must have exposure to NFTs, crypto mining, crypto banking or plans to work in NFT spaces. NFTZ has an expense ratio of 0.65% and its initial holdings include: Silvergate Cap Corp ($SI@US), Cloudfare ($NET@US), Bitfarms ($BITF@Canada), Marathon Digital ($MARA@US), Coinbase ($COIN@US), Riot Blockchain ($RIOT@US), Hive Blockchain ($HIVE@Canada), Argo Blockchain ($ARBK@UK), Robinhood ($HOOD@US), DraftKings ($DKNG@US), and Funko Inc ($FNKO@US).

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