Defiance plans ETF, which bets against the crypto industry
Defiance plans ETF, which bets against the crypto industry
- Blok, which was introduced in 2018, went back by around 15 % in the first three months of 2022
- Defiance put on an ETF in December, which invests in NFT marketplaces and issuers
Defiance ETFS strives to found a fund that bets against the first Blockchain ETF in the USA.
The short blockchain and digital assets industry proposed by the fund group strives to return to the daily reversal of the performance of the transformation of the transformation of the transformation of the transformation of amplify ETFs Regulatory disclosure .
The proposed ETF will enter into short positions of the Amplify ETF and swap agreements with large global financial institutions. Its investment goal only tries to achieve for the duration of a single day of trading and, according to submission, is not intended for use by investors who do not actively monitor and manage their portfolios.
The disclosure does not indicate a ticker or a cost rate for the planned offer.
Defiance did not immediately answer a request for comment.
Blok was founded in January 2018 and manages a fortune of around $ 900 million. Although the funds of the fund were previously limited to several mining and semiconductor companies and companies that invest in private blockchain participations, Amplify-CEO Christian Magoon previously told Blockworks that it now consists of more pure blockchain companies.
The current five largest participations in the fund are Silvergate, CME Group, SBI Holdings, Microstrategy and Nvidia. Other ingredients in the top 10 are Galaxy Digital and the crypto exchange Coinbase.
Although Blok has achieved a return of 105 % since it was led, the fund, according to the Amplify website, achieved a return of around -15 % in the first three months of 2022.
A spokesman for Amplify refused to comment on the proposed defiance fund.
Defiance is not the first company to launch a product that competes against the crypto industry.
Last September,Toroso revealed plans to launch the Elevate Share inverse Daily Blockchain ETF (KOLB), which would also strive for daily results that would correspond to the opposite of Blok's performance.
At the beginning of this month,Proshares submitted an application to put on an ETF that would enable investors to bet on Bitcoin essentially, and AXS investments and direxion followed this example.
Defiance has eight ETFs that are traded in the United States with a total assets of around $ 1.4 billion. The company launched its Digital Revolution ETF (NFTZ) in December, which invests in NFT marketplaces and issuers.
Sylvia Jablonski, co -founder and Chief Investment Officer from Defiance, previously told Blockworks that NFTS would be larger than the Internet.
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The contribution Defiance Plans Etf That Bets Against Crypto Industry is not a financial advice.