MEME ETF seeks to tap retail investor sentiment

FILE PHOTO: A GameStop store is seen in the Jackson Heights neighborhood of New York City, New York, U.S. January 27, 2021. Picture taken January 27, 2021. REUTERS/Nick Zieminski/File Photo

NEW YORK (Reuters) - Investors looking to bet on the "meme stock" phenomenon that has characterized the retail trading boom may soon have a new way to do so, with the Roundhill MEME exchange-traded fund, which tracks an index made up of stocks trending on social media.

The ETF, which requires regulatory approval, will seek to track the performance, before fees and expenses, of the Solactive Roundhill Meme Stock Index, which in turn seeks to track the performance of "meme stocks," according to a filing on Thursday with the U.S. Securities and Exchange Commission.