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First ETF launch from Subversive to target the metaverse without the Meta


Wondering how to get exposure to the Metaverse but not convinced about the future of Meta Platforms (aka Facebook)? You may be interested to know that Subversive Capital Advisor, a recently established registered investment advisor in the US, which is primarily focused on different mission-driven emerging sectors, has launched its first ETF – Subversive Metaverse ETF (PUNK) on the Cboe BZX Exchange.

PUNK, which is expected to begin trading this week, is an actively managed exchange-traded fund – this means it is not simply following a passive index, but fees will also tend to be higher (0.75% in this case). The advisor is managed by Subversive’s founder, Michael Auerbach, and Christian H. Cooper will act as the ETF’s portfolio manager.

The PUNK Fund seeks to achieve long-term capital appreciation by investing in globally-listed equity securities of companies that provide services and products that support the infrastructure and applications of the Metaverse. Companies selected for inclusion in the PUNK Fund’s portfolio will be engaged in the experience, discovery, creator economy, spatial computing, decentralisation, human interface, and/or infrastructure aspects of the Metaverse. The PUNK Fund has a 0.75% management fee.

“A compelling variety of companies”

“Subversive Capital prides itself on identifying opportunities, particularly in emerging sectors and themes, that provide our shareholders with exposure to disruptive and rapidly growing industries,” said Auerbach. “While still in the early stage of development, there are already a compelling variety of companies that have established themselves as leaders within the Metaverse today, and we believe there is much to gain as this industry evolves. With our backgrounds and history of successful early-stage investments in disruptive emerging companies and industries, we’re excited to bring this unique investment option to the market.”

The ETF has been deliberately launched as a play on the expansion of the metaverse, but away from the fortunes of Facebook/Meta itself. The whole point of Subversive is to identify new investment opportunities which are not dominated by the giants of the sector.

Questioning the integrity of the status quo

“Considering the amount of opportunity untouched within this market, we see the term ‘meta’-anything disproportionately associated with overpowering companies like Facebook,” said Cooper. “Our mission here at Subversive is to question the integrity of the status quo–which is why the PUNK Fund is short META – and build a foundation for people to appreciate these emerging sectors just as much as we do. We want to make sure this industry develops, without getting ‘Zucked-up’, from those who see the true potential of this space.”

The firm’s investment strategies primarily focus on different mission-driven emerging sectors that the founders believe will shape the economy of the future. The companies they invest in are described as bold, daring, and uninhibited enough not to let the world as it exists today limit their imagination for opportunities of the future.  The fund management strategy is very much one of embracing the future, but without the baggage of the megacorps of this world.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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