US issuer plans to launch two tracking index ETFs excluding companies owned by Elon Musk

Glonghui, July 11 ｜ Emerging exchange-traded fund (ETF) issuer Subversive ETFs has applied to regulators, planning to launch two ETFs that track the Nasdaq 100 Index and the S&P 500 Index, but excluding all companies founded, controlled, or managed by Elon Musk. The provisional codes for the two ETFs are "QQNE" and "SPNE" respectively. The report mentions that Wall Street has already launched several Musk-related derivative products, including leveraged ETFs tracking Tesla and SpaceX, as well as the "ELON ETF," which takes a long position in Tesla and a short position in Ford. Subversive ETFs pointed out that some investors may consider Musk-related companies to have governance risks, political risks, and concerns over large price volatility, so they hope to provide corresponding investment tools.