I’m not sure why people are saying it wouldn’t float. What you are describing is called neutral buoyancy.
This is where the mass of water being displaced is equal to the mass that is displacing it, when both have the same volume. Probably the most commonly seen example would be SCUBA divers adjusting their buoyancy to control their depth.
It’s a hard balance to get right, but not improbable that it will happen by chance either.
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