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NFT-Linked ETF Is Launching as Wait for Crypto Fund Goes On

  • Fund to track a blockchain and non-fungible-token index
  • NFTZ top holdings include Bitfarms, Marathon Digital, Coinbase
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With approval for a conventional cryptocurrency ETF still nowhere in sight, at least one U.S. money manager is looking to tap one of the other hot trends on the blockchain.

Defiance ETFs is launching the Defiance Digital Revolution ETF (ticker NFTZ) on Thursday, which will track a blockchain-related-companies and non-fungible-token index. It won’t invest in any cryptocurrencies directly -- the gauge tracks firms that have exposure to the industry -- but it is one of the first ETFs to tap the booming market for NFTs.