Subversive Metaverse ETF
PUNK
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- IPO Date
- Jan 26, 2022
- CIK
- 0001650149
- Similar Companies
- Business
- Subversive Metaverse ETF (PUNK) is an actively managed exchange-traded fund that invests in globally listed equity securities of companies providing products and services supporting the metaverse infrastructure and applications, including electronic technology, technology services, health technology, consumer durables, and consumer services sectors; it notably pursued a strategy of shorting Meta Platforms (formerly Facebook) alongside long positions in metaverse innovators. Launched in January 2022 by Subversive Capital Advisor LLC, a registered investment advisor based in New York, New York, the ETF targeted companies with market capitalizations between $250 million and $1 billion at the time of investment. The fund operated primarily in U.S. markets through listings on the Cboe BZX Exchange, serving investors seeking thematic exposure to emerging digital economies. In May 2023, the Subversive Metaverse ETF closed after accomplishing its strategic objectives amid shifting investor interest toward artificial intelligence and challenges in the metaverse sector. Subversive Capital Advisor LLC has since pivoted to other thematic ETFs, including the Unusual Whales Subversive Republican Trading ETF (formerly KRUZ, re-tickered to GOP in March 2025) and the Unusual Whales Subversive Democratic Trading ETF (NANC), managed in partnership with Tidal Financial Group. These developments reflect the firm's focus on politically themed and mission-driven investment strategies beyond metaverse opportunities. As of late 2025, PUNK shows limited trading activity with assets under management around $900 thousand.