The folks at a Big Apple fund firm are expanding their single-stock leveraged ETF lineup by two. They're also prepping nine more single-stock leveraged ETFs, plus a single-stock inverse ETF.

William "Will" Rhind GraniteShares Founder, CEO

Earlier this month, the GraniteShares [profile] team launched the GraniteShares 2x Long MRVL Daily ETF (MVLL) and the GraniteShares 2x Long MARA Daily ETF (MRAL). They also filed to launch 10 more ETFs: the GraniteShares 2x Long IONQ Daily ETF (IONL), the GraniteShares 2x Long XYZ Daily ETF (XYZL), the GraniteShares 2x Short MSTR Daily ETF (MSDD), the GraniteShares 2x Long PDD Daily ETF (PDDL), the GraniteShares 2x Long RDDT Daily ETF (RDTL), the GraniteShares 2x Long RIOT Daily ETF (RIOL), the GraniteShares 2x Long HOOD Daily ETF (HOOD), the GraniteShares 2x Long NOW Daily ETF (NOWL), the GraniteShares 2x Long SNOW Daily ETF (SNWL), and the GraniteShares 2x Long VRT Daily ETF (VRTL).

New York City-based GraniteShares Advisors LLC will serve as investment advisor to all 12 funds. They each will come with an expense ratio of 150 basis points.

The PM team for the 12 ETFs includes: Benoit Autier, chief operating officer and head of product at GraniteShares; Ryan Dofflemeyer, portfolio manager; and Jeff Klearman, PM. The 11 "Long" funds will be designed to track and double the daily performance of specific single stocks, while the 1 "Short" fund will track and double the inverse of the daily performance of its target stock.

MVLL's inception date was March 3. It is designed to track Marvell Technology, Inc. (MRVL).

MRAL's inception date was March 7. It is designed to track MARA Holdings Inc. (MARA).

IONL will be designed to track IonQ, Inc. (IONQ).

XYZL will be designed to track Block, Inc. (XYZ).

MSDD will be designed to track MicroStrategy Inc. (MSTR).

PDDL will be designed to track PDD Holdings Inc. (PDD).

RDTL will be designed to track Reddit, Inc. (RDDT).

RIOL will be designed to track Riot Platform, Inc. (RIOT).

HOOL will be designed to track Robinhood Markets, Inc. (HOOD).

NOWL will be designed to track ServiceNow, Inc. (NOW).

SNWL will be designed to track Snowflake Inc. (SNOW).

VRTL will be designed to tracked Vertiv Holdings Co. (VRT).

All 12 ETFs will be actively managed, non-diversified series of GraniteShares ETF Trust. Their other service providers will include: SS&C's Alps Distributors, Inc. as distributor; Alps Fund Services, Inc. as administrator; Brown Brothers Harriman & Co. (BBH) as custodian, dividend disbursing agent, and transfer agent; Tait Weller & Baker LLP as independent accounting firm; and Thompson Hine LLP as counsel. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE