Subversive Capital Acquisition, a particular objective acquisition firm (SPAC), has filed an software with the U.S. Securities and Trade Fee (SEC) for an exchange-traded fund (ETF) centered on the metaverse.
- In a submitting Wednesday, Subversive Capital mentioned the Subversive Metaverse ETF would spend money on the shares of corporations that present companies and merchandise that assist the infrastructure and purposes of the metaverse.
- If permitted by the SEC, the ETF would commerce underneath the ticker “PUNK” and allocate 80% of its belongings plus any borrowings for funding functions in metaverse corporations.
- Subversive defines the metaverse as the subsequent era of the web, which has the potential to permit creators to construct human interplay by means of immersive experiences in three-dimensional digital areas.
- Subversive mentioned the ETF’s funding adviser will even apply a Subversive Metaverse Rating (SMR) to every firm it plans to spend money on based mostly on its stage of dedication to growing the metaverse.
- SMR will probably be subjective and key elements for the rating might embody the proportion of an organization’s income, workforce and future capital commitments related to the metaverse.
- The Metaverse ETF could be managed by Michael Auerbach, CEO of Subversive Capital; Leland Hensch, chief funding officer of Subversive Capital’s ETF portfolios; and Steven Yoo, principal at Subversive Capital.
- The administration payment for the Metaverse ETF could be 0.75%.