Defiance Asset Management received approval to launch an ETF that will track the performance of stocks of blockchain-focused companies oriented toward Web 3.0 and NFT.
Defiance Digital Revolution ETF trades under the ticker NFTZ.
The management fee stands at 0.65%.
The structure will not invest directly in digital assets. The ETF will replicate the performance of the BITA NFT and Blockchain Select Index, developed by the German fintech firm BITA.
The share of stocks of companies involved in issuing, creating and commercialization of NFT is 32.46%, with cryptocurrency mining 25.86%, with asset management and trading of digital assets 21.9%, with payments services and crypto-banking 15.18%, and with blockchain technologies 4.6%.
The largest weights in the index are in companies such as Silvergate Capital, Cloudflare, Bitfarms, Marathon Digital Holdings, Hut 8 Mining and Coinbase Global.
Allocations range from 0.5% to 4%, with quarterly rebalancing scheduled.
Earlier, Grayscale forecast that the annual revenue of the Web 3.0 metaverse sector would reach $1 trillion.
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