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 Borse

In 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.