Main navigation

Pioneering NFT ETF Shutting Down as Enthusiasm Subsides

Tue, 01/31/2023 - 18:32
article image
Alex Dovbnya
A ground zero NFT exchange-traded fund is closing its doors for investors due to the lack of interest
Pioneering NFT ETF Shutting Down as Enthusiasm Subsides
Cover image via
Read U.TODAY on
Google News

The Defiance Digital Revolution ETF, a trailblazing exchange-traded fund focused on non-fungible tokens is shutting down, according to a recent report by Bloomberg

Its portfolio will be liquidated in mid-November after the hype around the nascent technology fizzled away. 

Defiance's Sylvia Jablonski has acknowledged that the fund wasn't attractive enough for investors. 

Ethereum (ETH) Staked on Lido Finance Sets New Milestone: Details
The company launched the first ETF focused on NFTs in December 2021. Back then, Jablonski predicted that NFTs could end up being bigger than the internet.

The failed product offered investors exposure to various NFT marketplaces after they seemingly became the next big thing in 2021. 

Just months before the launch, NFTs recorded $15 worth of trading volume in October. However, this sector significantly underperformed in 2022 together with the rest of the crypto industry.    

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at