Defiance shuts world’s first NFT-focused crypto industry ETF | ETF Strategy


Defiance ETFs is closing its thematic equity ETF providing exposure to companies operating in the crypto economy just one year after the fund’s introduction.

The ETF will cease trading and will liquidate on 28 February.

The Defiance Digital Revolution ETF (NFTZ US), which was unveiled in December 2021, will cease trading and liquidate immediately after the close of business on 28 February 2023.

The fund provides exposure to various participants supporting the crypto economy including firms involved with mining, asset management, trading, banking, payment processing, and the provision of mining hardware or blockchain software.

While this approach made the fund similar to other crypto industry ETFs that were already available at the time of its launch, NFTZ set itself apart from its competitors by being the first to also include exposure to firms involved in the issuance, creation, and commercialization of nonfungible tokens (NFTs).

NFTs are unique financial securities that represent digital data such as art, music, media, collectible items, virtual fashion,…

Read more…