Azoria Partners delays Tesla ETF launch after Musk unveils new political party

Investment firm Azoria Partners has postponed the launch of its Tesla-focused (NASDAQ:TSLA) exchange traded fund following Elon Musk’s surprise announcement that he is forming a new U.S. political party.

Musk, who also owns social media platform X, revealed plans for the “America Party” on Friday, claiming the movement aims to restore individual freedoms. His announcement came shortly after conducting a poll among his X followers.

Azoria had planned to debut the Tesla Convexity ETF in the next week. The fund is an investment product tied to Tesla (NASDAQ:TSLA) shares and options. But the political developments prompted a swift reaction from Azoria CEO James Fishback, who criticized Musk’s new party in several X posts and reaffirmed his personal support for President Donald Trump.

Fishback later announced the ETF launch would be delayed, citing concerns over Musk’s priorities.

“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 wrote.

He added that Musk’s decision casts further uncertainty over Tesla’s (NASDAQ:TSLA) future, following Musk’s earlier move to scale back involvement with the Department of Government Efficiency.

Musk’s announcement came a day after Trump signed his latest tax and spending bill, which Musk had openly criticized.

Azoria also manages the Azoria 500 Meritocracy ETF (SPXM), which, according to the firm’s website, invests only in U.S. companies that do not implement diversity, equity and inclusion hiring mandates.

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