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NFT Fund will be unlisted on Defiance Digital Revolution ETF | by Pro Exchange

Defiance ETFs have announced that they will “close and liquidate” NFTZ on the Defiance Digital Revolution ETF by February 28. NFTZ is an ETF that allows investors to have shares in a number of companies involved in the NFT space. NFTZ was widely touted as the world’s first exchange-traded fund for NFTs in December 2021. Then Sylvia Jablonski, Co-Founder and Chief Investment Officer of Defiance ETFs, said the NFT “could be bigger than the internet”.

The NFTZ has tracked companies involved in the NFT and crypto space including toy collector Funko, online marketplace Ebay, and digital asset exchange Coinbase. The Fund’s shares are listed on the New York Stock Exchange. The fund fell 11% to $21.66 from $24.41 in its first two trading days.

NFT boomed in 2021 and many celebrities have publicly invested or created their own NFTs. Big companies like Ebay and Funko also participate by investing in the NFT market. Meanwhile, the ETF that was once thought to be bitcoin futures and the cryptocurrency found a market in the U.S. at least during the bull run when it first launched in October 2021, it boomed and sold. nearly $1 billion at launch. Bitcoin spot ETFs, which directly track the largest digital currency, do not yet exist in the United States. Many major crypto companies have applied to the SEC to launch a fund, but have only been rejected.

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