There does not appear to be a clear path to do this unless you simply sell an ETF interest, incur capital gain, and reinvest it into a Qualified Opportunity Fund (QOF).
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How can I combine an ETF with the Opportunity Zone tax incentive?
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Your Qualified Opportunity Fund (QOF) could acquire an ETF, so long as the ETF (when combined with all other assets held by the QOF that are not qualified opportunity zone property (QOZP)) does not account for more than 10% of the QOF's assets. If you hold the QOF interest for at least 10 years, the gain attributable to the appreciation of the ETF can be excluded from your income.
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