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Facebook’s Doppelganger ETF Rakes in Cash

  • ETF with ticker META sees record volume, big inflow Thursday
  • Surge came after Facebook changed its name to Meta Platforms
Mark Zuckerberg announces the Facebook rebranding as Meta, on Oct. 28.
Mark Zuckerberg announces the Facebook rebranding as Meta, on Oct. 28.Photographer: Michael Nagle/Bloomberg
Corrected

The confusion around Facebook Inc.’s new name has been good news for one exchange-traded fund with a fortunate ticker.

The $142 million Roundhill Ball Metaverse ETF, which trades under the ticker META, saw an inflow of about $14 million, according to an early tally from the firm. It was the biggest influx for the fund since the start of September, data compiled by Bloomberg show, and trading volume in the ETF’s shares surged to a record high after the announcement.