Autor Cointelegraph By Zhiyuan Sun

First NFT-focused ETF lists on NYSE Arca

First NFT-focused ETF lists on NYSE Arca

Uverejnil používateľ | dec 2, 2021 |

On Thursday, registered investment adviser and fintech firm Defiance announced it has launched the first nonfungible token (NFT)-focused exchange-traded fund (ETF) on the New York Stock Exchange Arca. The fund is listed under the ticker symbol NFTZ and has a management fee of 0.65% per year.The fund does not directly buy and hold NFTs to store in wallets. Instead, it tracks an index of companies operating or intending to venture into the NFT space, as well as the Metaverse. The BITA NFT and Blockchain Select Index, which the fund intends to mirror, is maintained by Germany-based fintech company BITA.Notable holdings in the fund include Coinbase, Cloudflare, Plby Group [Playboy], Marathon Digital and Hut 8 Mining. Its biggest holding is Silvergate Capital, at 6.74% of its net assets. Unbeknownst to most investors, Silvergate is one of the world’s largest gateway for crypto to fiat transactions among centralized cryptocurrency exchanges and financial institutions. During the third quarter alone, Silvergate helped facilitate over $162 billion worth of such transactions. The NFTZ ETF holds a total of 34 companies in its portfolio.Regarding the announcement, Sylvia Jablonski, co-founder and chief investment officer of Defiance, said:The NFT revolution will fundamentally change the economic model for artists, athletes, creators and many more industries that we can’t even conceive of today. NFTs could be bigger than the internet.Related: Invesco launches spot Bitcoin ETP on Deutsche BorseIn addition to the NFTZ, the fintech firm also plans to launch a basket of ETFs tracking the latest information technology and biotech developments. Notable highlights include its 5G, psychedelic, next-generation hydrogen, and quantum computing ETFs.

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Adidas enters the Metaverse with NFT partnerships

Adidas enters the Metaverse with NFT partnerships

Uverejnil používateľ | dec 2, 2021 |

On Thursday, Adidas announced it was entering the Metaverse in collaboration with Bored Ape Yacht Club, gmoney NFT, and PUNKS Comic. In an article posted on the Adidas mobile app, the developers behind the initiative said the following:This autumn, Adidas, known for celebrating ideas at the bleeding edge of originality, it settling in at the frontier of creativity: The Metaverse. Our goal there? To see every one of its inhabitants thrive. The Metaverse is where anyone can express their most original ideas and be their most authentic selves, in whatever form they might take. And thanks to the blockchain [and NFTs], those pioneers can own a piece of what they create.Today we leap Into The Metaverse with @BoredApeYC, @gmoneyNFT & @punkscomic.It’s time to enter a world of limitless possibilities.https://t.co/LmgtrRn20c pic.twitter.com/40kU8tayrS— adidas Originals (@adidasoriginals) December 2, 2021Related: Wear-to-earn NFTs target the billion-dollar fashion industryIn the article, a piece of the Bored Ape nonfungible token (NFT) has been redrawn to feature Adidas’ iconic tracksuit. Bored Ape Yacht Club contains more than 10,000 NFTs minted on the Ethereum (ETH) blockchain. Meanwhile, gmoney is a notable cryptocurrency and NFT influencer who has been featured on Fortune NFTy 50. Lastly, PUNKS Comic combines both the world of NFTs and physical comic books to create so-called crypto comics. Cointelegraph Research projects that NFT sales could reach a record finish of $18 billion by the end of the year, making the sector one of crypto’s hottest performers. 

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Fidelity Canada officially launches Bitcoin ETF and Bitcoin Mutual Fund

Fidelity Canada officially launches Bitcoin ETF and Bitcoin Mutual Fund

Uverejnil používateľ | dec 2, 2021 |

On Thursday, Fidelity Canada officially launched the Fidelity Advantage Bitcoin exchange-traded fund (ETF) and the Fidelity Advantage Bitcoin ETF Fund (mutual fund), marking the first such assets to be made available in the country and confirming earlier reports on the matter. The funds have the tickers FBTC and FBTC.U, denominated in Canadian and United States dollars, and are listed on the Toronto Stock Exchange. Fidelity’s Bitcoin ETFs seek to track the performance of Bitcoin’s (BTC) spot price. Fidelity currently manages CA$208 billion ($162.27 billion) in assets in the country.The ETFs will have an annual management fee of 0.4%. Operating expenses and trading costs are not yet available as the assets are still new. Over 98% of Bitcoin purchased by the funds is stored in cold wallets.The implications are significant for Canadian retail investors who open government-registered accounts, such as the Tax-Free Savings Account (TFSA), and purchase Bitcoin ETFs. As the name implies, securities held in a TFSA are exempt from capital gains tax liabilities.Related: VanEck’s Bitcoin spot ETF shunt solidifies SEC’s outlook on cryptoSince 2009, the annual contribution limit for a TFSA has ranged from CA$5,000 ($3,903) to CA$10,000 ($7,807). Unused contributions from the previous years are carried forward, making them cumulative. In addition, all realized profits accrued in the TFSA are added back into the contribution room. Hypothetically, if an investor purchases $10,000 in a Bitcoin ETF and sells them for $20,000, then further capital appreciation from reinvesting the full $20,000, not $10,000, will be eligible for capital gains tax-exemption.

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