Popular US ETF provider Defiance ETFs is now set to offer the world’s first ETF which specializes in NFT-related companies, the firm announced Thursday.
The ETF, called Defiance Digital Revolution ETF, will track the performance of an index composed of several blockchain and NFT-related companies, and will not invest in crypto assets directly.
Defiance has formed ETFs with a group of companies specializing in the NFT business area. The company has downplayed the risks of the ETF by adding a cohort of stocks of companies that are developing businesses in the NFT area.
Some of the stocks managed by BITA NFT ETF are, SBI holdings, Coinbase, Marathon Digital Holdings, Riot Blockchain, Plby Group Inc, Cloudflare Inc, Northern Data Ag, Bitfarms Ltd / Canada, and Hut8, amongst others.
Entertainment magazine “Playboy”, which launched its NFT business in April 2021, accounts for 5.27% of the ETF composition. Meanwhile, Coinbase Global and SBI holdings each account for 4.2%.
