Sylvia Jablonski, CEO and CIO at Defiance ETFs, explained that the decision to close the fund comes after the fund “failed to attract assets.” The company will start to liquidate the ETF’s portfolio on February 16.

NFTs, which allow holders of art and collectibles to track ownership, surged in popularity during 2021 and the early stages of 2022 during the cryptocurrency rally, however, the hype around NFTs has since plummeted, particularly as the Federal Reserve’s tighter monetary policy has made for a more restrictive environment for speculative assets.

“As you start to hit that crypto winter that we’re in, it makes sense that a lot of the investments that are based off of that entire segment are going to start drying up,” Shawn Cruz, head trading strategist at TD Ameritrade, said of the NFT dropoff.

With its portfolio nearing $14 million at its height in March 2022, the Defiance Digital Revolution ETF is seeing out January with around $5.3 million in assets.

The post First NFT ETF Set to Close in February appeared first on theprimarymarket.com.

In terms of finances, the “greater fool theory” is based on buying an overvalued asset in hopes that it can be later sold for an even higher price to a “greater fool.” This is sustainable as long as there are enough “greater fools” who are willing to pay more each time.

Gates started by making a dig at the popular NFT collection “Bored Ape Yacht Club,” saying that “expensive digital images of monkeys are going to improve the world immensely.” He then explained that he is “used to asset classes, like a farm where they have output, or like a company where they make products.”

 One of the world’s richest people continued by making the “greater fool theory remark” before saying that he isn’t involved in crypto or NFTs and that he is “not long or short” on either.

The crypto market is currently going through a rough period caused by a massive sell-off as investors are turning to more traditional assets. The world’s leading cryptocurrency Bitcoin has lost close to 35 percent of its value in the last month and is currently trading at around $20K. This is the lowest Bitcoin has been since late 2021.

The post Bill Gates Brands Crypto and NFTs as “100 Percent Based On Greater Fool Theory” appeared first on theprimarymarket.com.

Sylvia Jablonski, CEO and CIO at Defiance ETFs, explained that the decision to close the fund comes after the fund “failed to attract assets.” The company will start to liquidate the ETF’s portfolio on February 16.

NFTs, which allow holders of art and collectibles to track ownership, surged in popularity during 2021 and the early stages of 2022 during the cryptocurrency rally, however, the hype around NFTs has since plummeted, particularly as the Federal Reserve’s tighter monetary policy has made for a more restrictive environment for speculative assets.

“As you start to hit that crypto winter that we’re in, it makes sense that a lot of the investments that are based off of that entire segment are going to start drying up,” Shawn Cruz, head trading strategist at TD Ameritrade, said of the NFT dropoff.

With its portfolio nearing $14 million at its height in March 2022, the Defiance Digital Revolution ETF is seeing out January with around $5.3 million in assets.

The post First NFT ETF Set to Close in February appeared first on theprimarymarket.com.

In terms of finances, the “greater fool theory” is based on buying an overvalued asset in hopes that it can be later sold for an even higher price to a “greater fool.” This is sustainable as long as there are enough “greater fools” who are willing to pay more each time.

Gates started by making a dig at the popular NFT collection “Bored Ape Yacht Club,” saying that “expensive digital images of monkeys are going to improve the world immensely.” He then explained that he is “used to asset classes, like a farm where they have output, or like a company where they make products.”

 One of the world’s richest people continued by making the “greater fool theory remark” before saying that he isn’t involved in crypto or NFTs and that he is “not long or short” on either.

The crypto market is currently going through a rough period caused by a massive sell-off as investors are turning to more traditional assets. The world’s leading cryptocurrency Bitcoin has lost close to 35 percent of its value in the last month and is currently trading at around $20K. This is the lowest Bitcoin has been since late 2021.

The post Bill Gates Brands Crypto and NFTs as “100 Percent Based On Greater Fool Theory” appeared first on theprimarymarket.com.