First NFT-focused ETF listing on NYSE Arca
On Thursday, registered investment advisor and fintech firm Defiance announced that it had launched the first NFT-focused exchange traded fund (ETF) on the New York Stock Exchange, Arca. The fund is listed under the symbol NFTZ and has a management fee of 0.65% per annum.
The Fund does not buy or hold NFTs directly to store in the wallet. Instead, it tracks an index of companies active or planning to get into the NFT space, as well as the Metaverse. The BITA NFT and the Blockchain Find Index, which the fund aims to map, are managed by the German fintech company BITA.
Notable holdings in the fund include Coinbase, Cloudflare, Plby Group [Playboy], Marathon Digital and Mining Hut 8. The company’s largest holdings are Silvergate Capital with 6.74% of net assets. Unknown to most investors, Silvergate is one of the world’s largest crypto portals for conducting fiat transactions between centralized crypto exchanges and financial institutions. In the last quarter alone, Silvergate helped enable more than $ 162 billion in transactions.
The NFTZ ETF has a total of 34 companies in its portfolio.
Commenting on the announcement, Defiance Co-Founder and Chief Investment Officer Sylvia Jablonski said:
The NFT revolution will fundamentally change the economic model for artists, athletes, creatives and many other industries that we cannot even imagine today. NFT can be bigger than the internet.
Similar: Invesco introduces Spot Bitcoin ETP on Deutsche Börse
In addition to the NFTZ, the fintech company is also planning to introduce a basket of ETFs that reflect the latest developments in biotechnology and information technology. Notable highlights include 5G ETFs, psychedelics, next-generation hydrogen, and quantum computers.