The first NFT-focused investment fund to be launched on the New York Stock Exchange

Briefly:

  • On Arca will launch an NFT-oriented ETF
  • It contains 75 holding
  • The fund will not buy tokens directly, instead investing in company stocks

Large fintech firm Defiance is preparing to launch a fully NFT-focused ETF. Among the assets of the package are securities of companies such as Coinbase, Hut 8 Mining and Plby Group (Playboy).

“NTFs can go beyond the internet,” said Silvia Jablonski, co-founder and chief investment officer of Defiance.

According to the company, the new exchange-traded fund (ETF) is aimed exclusively at tokens. Unlike conventional investment packages, in this case, NFTs do not buy or sell.

The fund monitors the fluctuations in the quotes of derivatives of those organizations that are going to exit or are already working in the crypto sector. In total, it presents 75 counterparty.

Among others, Defiance’s portfolio includes assets from companies such as Coinbase, Cloudflare, Plby Group (Playboy), Marathon Digital and Hut 8 Mining. The largest holding of the fund is Silvergate Capital (6, 75%

The stake will be listed on the New York Stock Exchange Arca under the ticker NFTZ. Anyone can invest in it, but there is a commission of 0 for asset management, 75% in year. The cost of one share varies from 2 to 296 dollars.

According to a Defiance spokesman, NFT has huge potential, and not only within the network. In the future, the company intends to implement other similar projects.

In particular, the firm is making plans to launch a fund, which will represent shares of innovative corporations in the field of IT and biotechnological developments.

See also: Gehry Gensler (SEC) called ETFs “highly speculative.”

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