First NFT ETF Is Closing as Once-Hot Crypto Trend Fizzles
- Cryptocurrency prices have fallen as Fed raises interest rates
- NFTZ fund failed to attract assets, says Defiance’s Jablonski
Source: Defiance ETFs/PRNewswire
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The crisis in all things crypto looks set to claim another victim as the first-ever exchange-traded fund centered on nonfungible tokens prepares to liquidate.
The Defiance Digital Revolution ETF (ticker NFTZ), which launched at the end of 2021, will close at the end of February, according to a press release. The fund, which tracked blockchain-related companies and an NFT index, will start liquidating its portfolio on or about Feb. 16.