In the lead up to the SpaceX IPO, there were dozens of stories about early employees and investors who stood to make millions of dollars for betting on, or working for, Elon Musk.
But thanks to Musk’s work with DOGE, his public comments on X, and the infamous gesture he made at Donald Trump’s inauguration that looked a lot like a Nazi salute, someone realized there was money to be made by avoiding him.
An exchanged-traded fund creator with the appropo name of Subversive Capital has found a way to tap into that negative sentiment with two new anti-Elon exchanged-traded funds.
The ETFs, which are similar to mutual funds, except they are traded like regular stocks, are legally registered by Tidal Trust I and attached to a brand called Subversive Markets Lab LLC. (Bloomberg was the first to spot the filing.)
Avoiding the world’s richest person can be tricky for the average investor, who likely puts their money into mutual funds tied to indices like the S&P 500 and Nasdaq 100. SpaceX, which is in the FTSE Russell and MSCI indexes, was recently added to the Nasdaq 100. That means it’s included in funds that track those indexes. Musk’s other publicly traded company, Tesla, is a longtime favorite of mutual funds, especially the large cap and growth varieties.
