Coming soon to a brokerage near you

How it took this long for somebody to make this is beyond me, but nevertheless, this Thursday marks the grand debut of the Global X FTSE Greece 20 ETF (Ticker name: GREK), the first-ever all-Greek ETF.

Tracking the FTSE/ATHEX 20 Capped Index, which in turn tracks the 20 largest companies in Athens’ exchange, GREK will finally give those looking for exposure to Greece something a little more concentrated than what your typical Euro ETF can provide.

Good luck shorting it though.

As you can imagine, Greek equities have taken quite the hammering already; the MSCI Greek Index is barely a tenth of what it was 4 years ago, and the ATHEX 20 has dropped over 500 points YTD (down a whopping 2000 since 2006), so this, coupled with somewhat thin trading from both sides of the market, doesn’t really spell much of an upside for that bet. Another worry is that it might not have enough liquidity for the shorts to play with, but the makers seem pretty confident that a lot of investors will be piling in from the long side to make the whole thing work, especially those looking into value plays or those hoping for a rebound.

What do you think monkeys? Any chance of this becoming a success?

Or will this get shorted into oblivion?

What’s to be bullish about Greece anyway?

Personally I’m staying away from this, don't know about you guys but going Greek isn’t my style and this just sounds like a one-way ticket to the wrong end of the stick. You?