Unusual Whales parts ways with Subversive on political ETFs

Unusual Whales, the platform known for tracking what members of Congress buy and sell in the stock market, has officially split from Subversive Capital Advisor on the two political ETFs they built together. The funds in question, the Subversive Congressional Democrats Trading ETF (NANC) and the Subversive Congressional Republicans Trading ETF (GOP), launched in February 2023 to considerable fanfare and have since accumulated hundreds of millions in assets. The breakup was announced on social media, with Unusual Whales confirming the partnership on both $NANC and $GOP has ended. What these funds actually do Members of Congress are required to disclose their stock trades under the STOCK Act. Those disclosures are public. Unusual Whales built its brand on scraping, organizing, and publicizing that data so retail investors could see what their elected officials were buying. The ETFs took that concept and productized it. NANC tracked the equity purchases of Democratic members of Congress and their families, while GOP (originally ticker KRUZ, rebranded in March 2025) did the same for Republicans. Both funds aimed for long-term capital appreciation by effectively mirroring congressional p...