Alternative Investments/Digital: Defiance Launches The First NFT-Focused ETF
The new ETF offers investors thematic exposure to the NFT (Non-Fungible Tokens), blockchain and cryptocurrency ecosystems.
Defiance ETFs has launched the Defiance Digital Revolution ETF on the NYSE’s Arca platform. The ETF, which has the ticker symbol NFTZ, will track the performance of the ‘BITA NFT and Blockchain Select Index,’ which comprises NFT, blockchain and crypto stocks, including NFT marketplaces and issuers such as Coinbase (NASDAQ: COIN), Playboy (NASDAQ: PLBY), and DraftKings (NASDAQ: DKNG). The index is rules-based and rebalanced quarterly. (CISION PR Newswire)
Defiance Digital Revolution ETF
The expense ratio of NFTZ is 0.65%.
“The next generation of traders are not like traditional asset allocators. These people are interested in things that allow them to connect and create and be a part of something,” Sylvia Jablonski, chief investment officer and co-founder of Defiance ETFs, said in an interview.
“The NFT world has created this sense of representing ownership for digital assets that has fundamentally changed culture and the market for things other than stocks and currencies,” Jablonski added.
“In October, all time NFT trading volume surpassed $15 Billion,” Jablonski revealed.
Non-fungible tokens (NFTs) transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that are easy to trade on the blockchain – the digital database underpinning cryptocurrencies such as bitcoin and ethereum.
These collectibles could be GIFs, tweets, virtual trading cards, images of physical objects, video game skins, virtual real estate and more.
Related Story: Roundhill Launches A Virtual Worlds’-Focused “Metaverse” ETF
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