New ETF To Be Based On Twitter Chatter

Market Prophit, a startup focused on financial data, hopes to soon launch an ETF based on its index that measures Twitter sentiment on various securities, according to an ETF.com report. The Market Prophit Social Media Sentiment Index, which launched in May, tracks tweets that use a "cashtag," meaning a ticker with a dollar sign in front of it, says the report, which came out Thursday.