Ahead of the SpaceX IPO, numerous articles highlighted early employees and investors who could potentially earn millions by supporting or working with Elon Musk. However, due to Musk’s involvement with DOGE, his public statements on X, and his questionable gesture at Trump’s inauguration, an investor identified an opportunity to profit from avoiding Musk. Subversive Capital, an exchanged-traded fund creator, has introduced two new anti-Elon exchanged-traded funds to capitalize on this negative sentiment. These ETFs, similar to mutual funds but traded like stocks, are legally registered by Tidal Trust I and associated with the brand Subversive Markets Lab LLC. (Bloomberg detected the submission beforehand.). It can be challenging for ordinary investors to steer clear of the wealthiest individual globally, considering they typically invest in mutual funds that track benchmarks such as the S&P 500 and Nasdaq 100. SpaceX, a company that’s part of the FTSE Russell and MSCI indexes, has recently become a member of the Nasdaq 100. This indicates that it is a part of the funds that follow those indexes. Musk’s other publicly traded business, Tesla, is a popular choice among mutual funds, particularly those centered around large cap and growth stocks. The two recently registered ETFs, known as Nasdaq-100 Ex-Elon Enterprises ETF and S&P 500 Ex-Elon Enterprises ETF, are created to exclude these firms from investment options. As of the prospectus’ date, the companies not included are Tesla (TSLA) and Space Exploration Technologies Corp. The filing mentions (SPCX).
