“The Social Media ETF got a really slow start, but it has really transformed ever since the news of the Facebook IPO,” Global X Chief Executive Bruno del Ama said in the report.
The social media ETF won’t add Facebook until five days after the IPO due to the tracking index’s rules. The methodology helps “avoid speculative trading that happens early on, which can play for or against you,” the CEO added.
“This is the ETF that will access the Facebook IPO the most quickly,” Christian Magoon of Magoon Capital told Reuters.
Global X Social Media Index ETF