Investment free from Elon Musk: New anti-billionaire funds launched in the USA

The buzz surrounding the world's richest man, Elon Musk, and his controversial statements are triggering unexpected trends in the financial market. Two new exchange-traded funds (ETFs) have been registered in the USA, allowing investors to bypass companies owned by the billionaire. This move is specifically designed for investors dissatisfied with Musk's political views and social media behavior. This is reported by Techcrunch.com reports.

Presented by Subversive Capital, these funds are named Nasdaq-100 Ex-Elon Enterprises ETF and S&P 500 Ex-Elon Enterprises ETF. According to Bloomberg, these financial instruments were legally registered by Tidal Trust I, with their primary goal being to completely exclude companies founded or managed by Elon Musk from investment portfolios.

Currently, it is quite difficult for an average investor to avoid Musk. The reason is that his company, Tesla, has long been an integral part of the S&P 500 index. Additionally, SpaceX was recently included in the Nasdaq 100 index. This means that anyone betting on major funds tied to these indices is indirectly sponsoring Musk's business. The new ETFs offer a way to break this connection.

Political and social reasons

Experts believe that the emergence of such funds is caused by Musk's sharp statements on X (formerly Twitter), his activities in the DOGE department, and his close ties with Donald Trump. Some investors consider the billionaire's actions to be contrary to their values and, therefore, do not want to profit from his success.

The official prospectus of the funds states that the following assets are currently included in the restriction list:

• Tesla (TSLA) — an electric vehicle manufacturing giant;
• SpaceX (SPCX) — a private company engaged in space exploration;
• Any public joint-stock companies directly related to Musk in the future.

Subversive Capital is known for its non-standard approach. Previously, they launched funds that tracked and replicated the stock purchases of US Congress members and their spouses. This "anti-Musk" project is seen not only as a financial tool but also as a unique expression of protest against the billionaire.

It is difficult to say how successful these funds, which will trade under the tickers QQNE and SPNE, will be. However, market analysts believe that at a time when negative sentiment toward Musk is growing, these ETFs will find their audience. This is especially relevant during a period when Tesla stock prices remain volatile and the billionaire's political influence is rising.