Investors Want A Chamath Palihapitiya ETF And They Might Get It Soon

Investors Want A Chamath Palihapitiya ETF And They Might Get It Soon

Photo credit: Cmichel67 via Wikimedia

Thanks to the surge in the number of SPACs and the media coverage of them, Chamath Palihapitiya has become a familiar name among traders. Now, he's asking people what more he can offer them for investment choices.

What Happened: Palihapitiya took to Twitter to ask his 730,000 followers if they would like new investment offerings featuring access to all of his investments.

Palihapitiya’s tweet offered four options in the poll titled “What do you want.” The options were

  • "SocialCapital ETF"
  • "SC HoldCo (à la $BRK)"
  • "SC Venture Syndicate"
  • "Nothing- f*** off..."

The Social Capital ETF was the overwhelming favorite, getting 47.2% of the vote from over 76,000 people who took part in the poll.

SC HoldCo, which would operate similar to Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) and likely trade as a stock, came in second with 13.4%. Palihapitiya has been compared to this generation's Warren Buffett. 

What’s Next: Palihapitiya has hinted at offering an ETF before, and the poll results could get the legendary investor closer to making this a reality given the interest.

His Social Capital Hedosophia was founded as a concept called “IPO 2.0” to provide an alternative path to traditional IPOs for innovative tech companies to go public. Palihapitiya aims to bring SPACs public with symbols running all the way from IPOA to IPOZ. 

“My ambition is to be our generation’s Berkshire Hathaway. It’ll be Berkshire, a holding company that, instead of holding Gillette and Coca-Cola and McDonald’s, will hold technology businesses,” Palihapitiya told Fortune last year.

Palihapitiya invests $100 million of his own personal money in the deals he does to show “skin in the game.”

With Palihapitiya’s SPACs trading at premiums prior to announced deals, a holding company or ETF offering access to all the SPACs could see strong interest.

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Disclosure: Author is long shares IPOD, SPCE.

© 2021 Benzinga does not provide investment advice. All rights reserved.

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