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Zuckerberg-Trolling ETF Bets on Everything Metaverse Except Meta

  • New fund trading under ticker PUNK will short Meta Platforms
  • Issuer says Meta ‘not best custodian’ of digital futures
Mark Zuckerberg speaks during the virtual Facebook Connect event, where the company announced its rebranding as Meta, on Oct. 28.

Mark Zuckerberg speaks during the virtual Facebook Connect event, where the company announced its rebranding as Meta, on Oct. 28.

Photographer: Michael Nagle/Bloomberg

A new ETF just landed with a mission to invest in everything related to the metaverse -- while shorting its loudest proponent, Facebook-parent Meta Platforms Inc.

The Subversive Metaverse ETF, launching Thursday, will chase companies both in the U.S. and overseas in any sector connected to creating immersive digital worlds. But Subversive Capital LLC, the firm behind the fund, reckons Mark Zuckerberg’s company is too reputationally toxic to be the standard bearer for the virtual-reality boom.