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DeFiant launches first NFT ETF in the US

 


Defiance ETF launched the first ETF for the NFT market. CIO Sylvia Jablonski described NFTs as "the Bitcoin of today".


By tracking the BITA NFT and Blockchain Select Index, the Defiance Digital Revolution ETF (NFTZ) offers investors targeted investment in blockchain and crypto ecosystems, including NFT marketplaces and issuers like Coinbase and Playboy. Even if the index only allows investment in companies and not directly in cryptocurrencies, it is one of the first ETFs to cover the burgeoning NFT market . The index is rule-based and rebalanced quarterly. The fund also charges a management fee of 0.65%.


NFTs are the "Bitcoin of today"

The NFTZ "is a great way for investors, not only access to the rapidly growing block chain technologies in the digital world to get, but also to companies that are involved in the new development of NFTs" , said Sylvia Jablonski , Chief Investment Officer Defiance ETFs. “The companies in this index are key players in the development of Web 3.0, ” she added.


According to Jablonski, NFTs will fundamentally change the economic model for athletes, artists and other creatives, as well as other industries, in ways that are impossible to imagine today. She believes the role of NFTs will eclipse that of the Internet. She added that the total volume of NFT trading exceeded the all-time high of $ 15 billion in October.


Jablonski also highlighted the social component behind NFTs, which is an effective form of marketing. She believes this is what sets NFTs apart from Bitcoin and other crypto investments . "NFTs are today what Bitcoin was 10 years ago, with the difference that there is a strong community made up of creatives and investors who together determine the future path of a non-fungible token," said Jablonski. "You are part of a special team, a membership, and so the investment takes on a new meaning of social interaction."


NFT ETF is approved before Bitcoin Spot ETF

NFTZ is one of several blockchain-focused exchange-traded funds. At the same time, the US Securities and Exchange Commission rejected numerous applications for a Bitcoin spot ETF. In October, the SEC approved the first Bitcoin ETF , which, however, is based on Bitcoin futures. Fidelity Investments no longer wants to wait for approval in the US and could launch its Fidelity Advantage Bitcoin ETF on the Toronto Stock Exchange as soon as next week .


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