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Cyber-Crime ETFs Sputter as Meme Stocks Absorb Market’s ‘Oxygen’

  • Rotation away from speculative tech shares drags down the ETFs
  • White House direction to create backups could benefit holdings
Updated on

Cybersecurity-focused ETFs are struggling to capitalize on a slew of high-profile hacks that have prompted the White House to urge every U.S. company to beef up security measures.

The $2.2 billion ETFMG Prime Cyber Security exchange-traded fund (HACK) and the Global X’s Cybersecurity ETF (BUG) have seen little in the way of inflows. The former notched just $13 million in May after two straight months of outflows, according to data compiled by Bloomberg.