Subversive Capital Acquisition, a special purpose acquisition company (SPAC), has filed an application with the Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on the Metaverse.
In a filing Thursday, Subversive Capital said the Subversive Metaverse ETF would invest in the stocks of companies that provide services and products that support the infrastructure and applications of the Metaverse.If approved by the SEC, the ETF would trade under the ticker “PUNK” and the ETF would allocate 80% of its assets plus any borrowings for investment purposes in Metaverse companies.Subversive defines the Metaverse as the next generation of the internet, which has the potential to allow creators to build human interaction through immersive experiences in three-dimensional virtual spaces.Subversive said the ETF’s investment adviser will also apply a Subversive Metaverse Ranking (SMR) to each company it plans to invest in based on their level of commitment to developing the Metaverse.SMR will be subjective and key factors of applying the ranking systems could include the percentage of a company’s revenue, workforce, and future capital commitments associated with the Metaverse.The Metaverse ETF would be managed by Michael Auerbach, CEO Subversive Capital; Leland Hensch, CIO of Subversive Capital’s ETF portfolios; and Steven Yoo, principal at Subversive Capital.The management fee for the Metaverse ETF would be 0.75%.
Read more: Invesco Files With SEC for Bitcoin Strategy ETF
Forex Trading can be risky, to cut the risk. Sign up to FX Delta for consistent results. The Best Forex trading signals for an average of 8% gains. Click here to sign up.
#Subversive #Capital #Files #Application #SEC #Metaverse #ETF