First NFT index fund is listed on NYSE Arca

On Thursday, the investment firm Defiance has the first index fund (ETF) for Non-Fungible tokens (NFT) on the New York Stock Exchange Arca brought to the starting line . The ETF is listed under the ticker NFTZ and has an administration fee of 0.65% per year.

However, the index fund does not buy NFTs directly, rather it maps companies that invest in or work in the NFT industry and the associated metaverse. The ETF is based on the so-called BITA NFT and Blockchain Select Index, which in turn is curated by the German fintech company BITA.

Well-known companies in the index include Coinbase, Cloudflare, the Plby Group [Playboy], Marathon Digital and Hut 8 Mining. Silvergate Capital accounts for the largest share with 6.74% . The relatively unknown company is actually one of the largest bridges between crypto exchanges and financial institutions, because it primarily handles transactions from crypto currencies to fiat currencies (and vice versa). In the third quarter alone, Silvergate helped close $ 162 billion in transactions. The NFTZ ETF maps a total of 34 companies.

Sylvia Jablonski, Defiance's co-founder and chief investment officer, explains:

“The NFT revolution brings fundamental changes to the business models of artists, athletes, influencers and many other industries that we are not even aware of. NFTs could become a bigger thing than the Internet. "

In addition to the NFTZ, the investment firm also wants to launch a basket of ETFs that track companies from the information technology and biotechnology sectors. Including companies that are working on important technological developments such as 5G, hydrogen propulsion and quantum computers.

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