First NFT ETF To Be Liquidated Because It Failed

The first ETF focused on NFTs will be liquidated following the crypto winter and the downturn in the NFT sector.

The first ETF to focus on NFTs,after the crypto winter and the downturn in the NFT sector will be liquidated.

Aggressive growth and expansion of industries in the crypto industry has also led to the launch of many new products. In particular, ETFs launched with the aim of integrating with tradition initially attracted intense interest. Bitcoin ETF products have managed to attract billions of dollars in investment. However, with the arrival of the crypto winter, crashes began in these sectors as well. Finally, Defiance Digital, the first NFT ETF, announced that it would be liquidated because it failed.

First NFT ETF To Be Liquidated Due To Crypto Winter

Defiance DigitalThe product, which is the first NFT ETF issued by the company, is due to the negative consequences of the crypto winter. will be liquidated.

Defiance Digital The fund, which was launched by late 2021, could not survive due to the crypto bear market these days. According to the statements, the failed ETF will liquidate its portfolio assets in mid-February.

CEO and CIO of the fund Sylvia JablonskiIn his statements to Bloomberg, he stated that he failed to attract assets.

Although there was an upward trend in the crypto money market, this was not enough to keep the ETF alive. past losses, It led to the failure of the ETF product.