The first NFT ETF: What to know
The portfolio counts major tech holdings alongside crypto and blockchain producers
NFT, crypto revolution energizing Gen Z crowd
'Miss Teen Crypto' host Randi Hipper discusses the future of NFT's and digital currencies on 'Making Money.'
The first exchange traded fund (ETF) to focus on non-fungible tokens (NFT) has launched.
Defiance ETFs announced the NFT-focused portfolio NFTZ as a means of "challenging paradigms of ownership, property and value."
BITCOIN PRICE STABILIZES AFTER FED-FUELED DROP
"The virtual sky is the limit for NFTs and the blockchain-powered NFT marketplace," the company wrote on its website.
The group, founded in 2018, seeks to sponsor and register investment opportunities focused on "thematic investing." The EFTs Defiance pushes aim to capitalize on "disruptive innovations," and no innovation has been more disruptive recently than NFTs.
FOX BUSINESS ADDS ENHANCED CRYPTOCURRENCY PRICING, REAL-TIME MARKET DATA
Defiance ETFs claimed that NFTZ has "no limit" and provides "simple and convenient access" to a "high entry-level sector." The company highlights the portfolio’s potential to change every aspect of how we "live, do business, pursue leisure and even govern."
The Premier edition NFT collection, which will offer thousands of Tiger's digital collectibles, will be available for purchase starting at 3 p.m. Eastern Time on Tuesday. A second Signed edition, which will offer less than 300 total digital collectib (Autograph)
The NFT marketplace trading volume surged in the third quarter of 2021, increasing by 704% from the previous quarter. The marketplace now holds a $10.7 billion valuation, according to Reuters.
EL SALVIDOR PLANS FIRST ‘BITCOIN CITY’, BACKED BY BITCOIN BONDS
Coinbase, a popular platform for trading cryptocurrency, announced in October that it would launch an NFT marketplace, making it easier to invest in and trade NFTs.
The fund started on Dec. 1 and has no current value, but it lists EBay, Square Inc, Funko, Robinhood, and Drafkings alongside crypto and blockchain companies as part of its holdings.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The index NFTZ utilizes is maintained by Germany-based Fintech company BITA. All components are weighted between a minimum of 0.5% and a maximum of 4%, which is rebalanced quarterly.
Half of the holdings are located in the U.S., with another 25% in Canada and the rest spread across Japan, Singapore, and several countries in Europe.