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Defiance Digital Revolution ETF is closing

Defiance ETFs is closing the Defiance Digital Revolution ETF, an exchange-traded fund that tracks an index of companies with exposure to non-fungible tokens, the blockchain and cryptocurrency. Defiance ETFs announced Jan. 27 that it will “close and liquidate the fund immediately after the close of business on February 28.” Shares of the ETF, which trade under the ticker NFTZ, are listed on the NYSE Arca. On or around Feb. 16, the fund will begin liquidating assets in its portfolio, according to the announcement. “Trading in shares of the fund will be halted prior to market open on the liquidation date,” Defiance said. Before the liquidation date, “shareholders may only be able to sell their shares to certain broker-dealers, and there is no assurance that there will be a market for the fund’s shares during that time period.” Shares of the ETF, launched in December 2021, plummeted 76.5% last year, according to FactSet data.

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