In a move that combines finance, politics, and a pinch of satire, Tuttle Capital Management on June 28 filed with the U.S. Securities and Exchange Commission to launch a new exchange-traded fund (ETF) under the ticker symbol GRFT.
Interestingly, GRFT (can be read as “grift”) is as unrepentant as it appears. The fund, which is proposing a 0.75% fee, hasn’t mentioned particular politicians or regimes in its papers, but it doesn’t have to. The name itself is a wink, a poke, and a headline generator. The ETF seeks to invest in firms with perceived political ties, ranging from members of Congress to acquaintances of the U.S. President, striking a balance between strategy and showmanship.
