Exchange Traded Concepts, a private-label ETF issuer, plans to launch an ETF targeting NFT companies, and this will be an index-tracking ETF.
Exchange Traded Concepts is an integral player in the NFT space, and over the last six months, they’ve designed and launched a few ETFs aimed at the NFT space. In October 2021, Exchange Traded Concepts debuted its Fount Metaverse ETF to critical acclaim.
Crypto and NFT-related ETFs have exploded in popularity in recent times, and it seems like there’s at least one new entrant to this space weekly. The Securities and Exchanges Commission in the USA has approved registering a reasonable amount of crypto-related ETFs in the last twelve months. Still, one thing that’s been shunned is ETFs investing directly in Bitcoin. As of 12 March 2022, the SEC is yet to approve any ETFs that’ll invest in Bitcoin.
As mentioned a few moments ago, Exchange Traded Concepts debuted its Fount Metaverse ETF (MTVR) in October 2021, and since its launch, the fund has grown to manage about $11 million worth of assets. The latest ETF from this company is an index-tracking ETF that will invest in NFT companies within the industry; companies involved in entertainment, arts, and gaming will be focused on with this ETF.
According to a regulatory disclosure on Thursday, 12 March 2022, the ETF tracks a Fount Investment Company Index. It is designed to follow the performance of businesses that play critical roles in the token technology sub-industry.