NEW
YORK, May 16, 2023 /PRNewswire/ - Subversive
Capital Advisor (the "Advisor" or the "Company"), a Registered
Investment Advisor primarily focused on different mission-driven
emerging sectors, has announced today that the Board of Trustees
(the "Trust") has determined to close and liquidate the Subversive
Metaverse ETF (CBOE: PUNK) (the "Fund") effective immediately after
the close of business on May 31,
2023. Subversive Capital Advisor will continue to operate
its other Exchange Funds as usual.
In 2022, the world watched as Meta, formerly Facebook, place a
big bet, including its name, on the future of the Metaverse.
Subversive Capital Advisor launched the Fund with a skeptical view
of Meta's imagining of what that world would look like, and to
invest in other companies spearheading innovation in this new
space. "We continue to believe Meta's focus is misguided and, we've
decided to pivot given the rapid advances in more promising
technology such as Artificial Intelligence." said Subversive's
portfolio manager, Christian H.
Cooper.
The Fund's last day of trading will be May 31, 2023, which will also be the final day
for creation unit orders by authorized participants. The Fund will
conclude operations and distribute the remaining proceeds to
shareholders promptly after May 31,
2023. Shareholders who do not sell their Fund shares by this
date will have their shares automatically redeemed for cash based
on the Fund's net asset value (NAV). Customary brokerage charges
may apply to transactions to sell Fund shares. Shareholders should
contact their tax advisor to discuss the income tax consequences of
the liquidation.
About Subversive
Subversive Capital Advisor LLC is a Registered Investment
Advisor.
The firm's investment strategies primarily focus on different
mission-driven emerging sectors that we believe will shape the
economy of the future. The companies we invest in are bold, daring,
and uninhibited enough not to let the world as it exists today
limit their imagination for opportunities of the future.
Leveraging our team's track record in the private sector, we aim
to bring all investors our industry knowledge and network to drive
meaningful value for their portfolios via diversified ETFs. ETFs in
the Advisor's suite include the Subversive Decarbonization ETF
(Ticker: DKRB), the Subversive Mental Health ETF (Ticker: SANE),
the Subversive Food Security ETF (Ticker: KCAL), the Unusual Whales
Subversive Democratic ETF (Ticker: NANC) and the Unusual Whales
Subversive Republican ETF (Ticker: KRUZ).
Carefully consider PUNK's investment objectives, risks,
charges and expenses. This and other information is in the
prospectus, a copy of which may be obtained by calling
877.291.4040. Please read the prospectus carefully before you
invest.
Investing involves risk, including the possible loss of
principal. Shares of any ETF are bought and sold at market price
(not NAV), may trade at a discount or premium to NAV and are not
individually redeemed from the Fund.
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SOURCE Subversive Capital Advisor LLC