Investment firm Azoria Partners has abruptly postponed the launch of its highly anticipated Tesla-focused exchange-traded fund (ETF), just days ahead of its debut, citing growing concerns over Tesla CEO Elon Musk’s foray into U.S. politics.
The ETF—named the Azoria Tesla Convexity ETF—was designed to invest in Tesla stock and related derivatives. Its launch was scheduled for next week but has now been placed on indefinite hold following Musk’s surprise announcement Friday that he is founding a new political party, the America Party, which aims to disrupt the traditional U.S. two-party system.
“Today the America Party is formed to give you back your freedom,” Musk posted on his platform X, sparking immediate reaction across financial and political circles.
Azoria CEO James Fishback took to X shortly after to express concern, stating that Musk’s expanding political ambitions raise serious questions about his ability to remain focused on his duties at Tesla.
“I encourage the Tesla Board to convene immediately and ask Elon to clarify his political ambitions—and evaluate whether they’re compatible with his full-time role as CEO,” Fishback wrote. He also reiterated his support for President Donald Trump and criticized Musk’s public opposition to the newly signed tax and spending bill.
Fishback pointed to Musk’s May resignation from the Department of Government Efficiency as another signal of “growing political distraction,” warning that investor confidence in Tesla’s leadership could erode further without direct reassurance from the company.
Tesla has yet to respond to the ETF postponement or to Fishback’s remarks.
The decision by Azoria has rattled some investors and analysts, highlighting broader concerns over Musk’s widening public agenda. “When the CEO of one of America’s most valuable and innovative companies starts dabbling in political party-building, it sends conflicting signals to shareholders,” Fishback said in another post.
The timing of the ETF’s postponement also coincides with heightened political polarization. Just a day earlier, former President Trump signed a sweeping tax and spending bill into law—a package Musk has publicly opposed, criticizing its lack of green energy provisions and its impact on the federal deficit.
Azoria Partners, known for its ideologically driven investment products, also manages the Azoria 500 Meritocracy ETF, a fund that invests exclusively in U.S. companies that do not use diversity, equity, and inclusion (DEI) hiring criteria. The fund has drawn attention for its anti-DEI positioning, consistent with Fishback’s broader political stances and vocal support for free-market conservatism.
As for the future of the Azoria Tesla Convexity ETF, no revised launch date has been provided. In a statement, the firm called on Tesla’s leadership to address “legitimate shareholder concerns” and clarify whether Musk’s political ambitions will interfere with his corporate responsibilities.
With Musk’s America Party rapidly gaining traction online and intensifying debate over CEO activism, the investment world is left to weigh the risks of a business leader whose influence now straddles both the boardroom and the ballot box.
