The first NFT-focused ETF listed on the New York Stock Exchange Arca

On Thursday, registered investment advisor and financial technology company Defiance Announce It launched the first exchange-traded fund (ETF) focused on non-fungible tokens (NFT) on the New York Stock Exchange Arca. The fund’s stock code is NFTZ, and it charges a management fee of 0.65% per year.

The fund does not directly purchase and hold NFT to store in the wallet.Instead it Repertoire An index of companies that operate or intend to enter the NFT field and Metaverse. The BITA NFT and Blockchain Select Index that the fund intends to reflect is maintained by the German financial technology company BITA.

Notable holdings in the fund include Coinbase, Cloudflare, Plby Group [Playboy], Marathon Digital and Hut 8 Mining.Its largest holding is Silvergate Capital, located in 6.74% Its net assets. Unknown to most investors, Silvergate is one of the world’s largest cryptocurrency to centralized cryptocurrency exchanges and fiat trading gateways between financial institutions. In the third quarter alone, Silvergate helped facilitate such transactions worth more than $162 billion. The NFTZ ETF holds a total of 34 companies in its investment portfolio.

In response to this news, Sylvia Jablonski, co-founder and chief investment officer of Defiance, said:

The NFT revolution will fundamentally change the economic model of artists, athletes, creators and more industries that we cannot even imagine today. NFT may be larger than the Internet.

related: Invesco launches spot Bitcoin ETP on Deutsche Börse

In addition to NFTZ, the financial technology company also plans to launch a basket of ETFs to track the latest developments in information technology and biotechnology. Notable highlights include its 5G, psychedelic, next-generation hydrogen and quantum computing ETF.