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Known for his dedication to personal fitness, Coinbase's CEO Brian Armstrong jumped into a Twitter chat about a "Deadlift ETF" that has been creating some social traction. It is an ETF crafted by @levelsio X user that only includes companies whose CEOs lift weights or engage in combat sports — no cardio-only allowed. Believe it or not, the ETF has reportedly outpaced the S&P 500 by 140% over the last four years.
Hitting the gym hard, Armstrong, who trains six days a week, chimed in. That is when @levelsio replied, "Man I actually thought of you cause you looked jacked but couldn’t confirm you lifted." Just like Coinbase, Armstrong’s company might be included in this quirky ETF.
More by chance than anything else, while it is amusing to think that a CEO’s workout routine might enhance a stock's performance, this ETF’s success is probably not just because a CEO is "swole" and their stock is going to flex in the market.
Arman ShirinyanSince it went public, the stock has been up and down, and it has definitely felt the jolts that come with being linked to the crypto market. Despite some strong moments, Coinbase's stock is still trying to find its balance in a pretty unpredictable space. The result largely depends on the performance of the cryptocurrency market as their profitability is directly tied to the popularity of the industry and the amount of inflows to it.
Remember that stock performance is more about market trends than about how much the CEO can bench press, but while the Deadlift ETF is a fun and humorous idea, it is good for a laugh and maybe a little motivation to hit the gym for those who work in or follow the financial industry.
Gamza Khanzadaev