Cryptocurrency exchange KuCoin announced on Friday the launch of NFT exchange-traded funds (ETFs) to allow fractional ownership of popular digital tokens, such as Bored Ape Yacht Club (BAYC), to its users.
The exchange stated the offering was aimed at improving the liquidity of NFT assets and lowering the investment threshold of blue-chip NFTs.
What Happened: In partnership with Fracton Protocol, five NFT ETFs will be listed initially, including hiBAYC, hiPUNKS, hiSAND33, hiKODA and hiENS4 as underlying assets. Fracton Protocol is a service dedicated to fractionalizing valuable NFTs into fungible Ethereum (CRYPTO: …
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