Investment firm Azoria postpones Tesla ETF after Musk plans political party

6/7/2025 16:11

Investment firm Azoria Partners said on Saturday it will postpone the listing of its Azoria Tesla Convexity exchange traded fund after Tesla CEO Elon Musk said he was forming a new U.S. political party.



Musk made the announcement a day after polling his followers on the X social media platform he owns, declaring, "Today the America Party is formed to give you back your freedom."



Azoria was set to launch the Tesla ETF, which would invest in the electric vehicle company's shares and options, next week.



However, following Musk's announcement Azoria CEO James Fishback posted on X several critical comments of the new party and repeated his support for U.S. President Donald Trump.



That culminated in a post where Fishback announced the postponement of the ETF.



"I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO," Fishback said.