Trendy ETFs, which include products such as cryptocurrency and mind-altering drugs, are rapidly closing as investors seek less risky investments in a volatile market. ETFs such as the Generation Z ETF (ZGEN) which launched less than two years ago with a mission to invest in firms that are teenager-friendly, and the Defiance Digital Revolution ETF (NFTZ), an ETF for NFTs, are some of the top funds to close in the changing economic climate. Defiance closed its Next Gen Altered Experience fund (PSY), which sought to invest in companies that conduct federally legal medical activities with psychedelics, cannabis, and ketamine, and faced regulatory challenges. It plummeted 50 percent in its first year of trading and never fully recovered. Exchange Traded Concepts’ psychedelic fund (PSYK) featured companies offering innovative medical products and was liquidated in March.