- Business
- SoFi Be Your Own Boss ETF (GIGE), formerly known as SoFi Gig Economy ETF and briefly rebranded to BYOB, is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing in a portfolio of global companies positioned to benefit from the gig economy and the shift toward flexible work models, including freelancers, solo entrepreneurs, and technology-enabled platforms for independent services. The fund targets firms across diverse sectors such as platform businesses (e.g., Shopify, Airbnb, Upwork), ancillary transaction-based services, marketing platforms, and growth-oriented stocks like UiPath, Block Inc., Spotify Technology, MercadoLibre, Roblox, StoneCo, and monday.com, with holdings spanning all market capitalizations and geographies without restriction to specific regions. Launched on May 8, 2019, and listed on NASDAQ (previously NYSE under BYOB), it maintains a net expense ratio of 0.59%, with assets under management recently around $4.83 million to $6.93 million prior to closure.
The ETF is issued through Tidal ETF Trust (formerly associated directly with SoFi branding), with investment advisory services provided by Toroso Investments, LLC (a Tidal Financial Group company), portfolio management led by Charles Ragauss, administration by Tidal ETF Services LLC, and custody by U.S. Bank National Association. Geographically diversified with exposure to U.S., international, and emerging market equities, the fund focuses on thematic equity strategies supporting the gig economy's evolution, including rapid inclusion of post-IPO companies within one month to capture emerging trends.
Key recent developments include a 2022 rebranding from SoFi Gig Economy ETF (GIGE) to SoFi Be Your Own Boss ETF (BYOB) to more accurately reflect its emphasis on empowering independent workers, alongside SoFi's launches of complementary thematic ETFs like Web 3 ETF (TWEB) and Smart Energy ETF (ENRG). In August 2022, the ticker shifted briefly in conjunction with these changes. Most significantly, on February 9, 2024, Tidal ETF Trust announced the fund's liquidation; trading was suspended on February 21, 2024, with shareholders receiving cash distributions equal to net asset value on or about February 23, 2024, marking the ETF's closure and delisting. No further partnerships, acquisitions, funding, or operational expansions occurred post-2022.