Metaverse ETF ‘PUNK’ closing after betting against Meta’s vision

Metaverse ETF ‘PUNK’ closing after betting against Meta’s vision

Subversive Capital cites losses as it shuts down its “PUNK” ETF and pivots to artificial intelligence.

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After 15 months and an approximate 30% loss, an exchange-traded fund (ETF) opposing Meta’s perspective on the metaverse is shutting down.

Subversive Capital is set to shut down and liquidate its Subversive Metaverse ETF, known by its “PUNK,” ticker, as the company shifts its focus toward artificial intelligence (AI).

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In January 2022, the PUNK ETF was introduced with the objective of investing in companies that support the infrastructure and applications of the metaverse. However, Mark Zuckerberg’s Meta was notably absent from the list.

In its online fund description, Subversive Capital emphasized the importance of responsible companies dedicated to principles such as egalitarianism, democracy, sustainability and

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