VanEck vectors Social Sentiment (BUZZ) publicly traded fund on Thursday surpassed total assets of $500 million.
According to VanEck Vector’s website, BUZZ now has total assets of $503. 1 million.
The ETF, subsidized through Barstool Sports founder David Portnoy, started operations on March 4 and temporarily recorded $280 million in money in tickets.
The ETF was presented at the best time to capitalize on the increase in retail investors that resulted from the rise of GameStop and other so-called even stocks.
The fund tracks an index that scans Internet sites like Reddit, StockTwits and Twitter to which stocks attract maximum positive attention online and then compares their assets accordingly.
Although many have described the ETF as the same inventory game, the fund’s founder, James Wise, told CNBC that its fund “is a Reddit equity ETF in itself. “
Buzz Holdings CEO and BUZZ ETF author said the fund intended to stick to the “wider verbal exchange about the movements discussed on social media platforms. “Wise added that the actions held through the ETF illustrate the fact that the fund does not pursue the shares themselves.
Since its inception, the BUZZ ETF has increased to more than 6%.