Alternative Investments/Digital: GraniteShares Launches The First Coinbase Leveraged ETF

August 10, 2022 | Alternative Investments, News
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The GraniteShares 1.5X Long COIN Daily ETF has listed on the NASDAQ.

US ETF issuer GraniteShares, which first launched leveraged ETFs on single stocks in the UK in 2019, and now offers 106 such products across Europe, has listed a suite of short and leveraged single stock Exchange Traded Funds (ETFs) on the NASDAQ Stock Exchange. (GlobeNewsWire)

Sophisticated investors can now take high conviction leveraged positions on Tesla (NASDAQ: TSLA), Coinbase (NASDAQ: COIN) and Apple (NASDAQ: AAPL) through an ETF rather than a hedge fund. On a traditional margin account with a broker, an investor can lose more than their investment and actually owe money to the broker. With a leveraged ETF, however, it is not possible to lose more than the original investment.

The initial suite of such ETFs from GraniteShares comprises three long ETFs and one short ETF as detailed below:

Fund Names

Fund Ticker

Underlying Stock

GraniteShares 1.25X Long TSLA Daily ETF

TSL

Tesla

GraniteShares 1X Short TSLA Daily ETF

TSLI

Tesla

GraniteShares 1.5X Long COIN Daily ETF

CONL

Coinbase

GraniteShares 1.75X Long AAPL Daily ETF

AAPB

Apple

Will Rhind, Founder and CEO, commented: “At GraniteShares we’re giving sophisticated U.S. investors access to a new type of investment that didn’t exist before. We’re proud to bring this new innovation to the U.S. market. Today’s launch is the first step of a broader roll-out of similar products. Product innovations like these give more choice to investors, who thanks to their ability to access stock markets, data and company news in real time, are better informed than ever before. We believe many of these technology-empowered investors are looking for new ways to take advantage of market opportunities.”

Related Story: AXS Launches New ETFs That Allow Leveraged Bets Against Selected Single Stocks In The U.S.

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