Asset manager GraniteShares files for RIOT, MARA, MSTR, and HOOD ETFs

GraniteShares files for new crypto-related ETFs

Marathon Digital and Riot Platforms are the two biggest Bitcoin (BTC) mining companies. They are also the third and second-biggest Bitcoin holders, with 44,394 and 17,429 coins in their balance sheet.

MicroStrategy holds the most coins at 439,000, while Robinhood serves as a major platform for crypto and stock investments.

These funds will be both 2x long and 2x short. 2x long ETFs will generate two times the daily returns of the respective stocks. For example, GraniteShares 2x Long RIOT ETF will rise by 2% when Riot Platform’s stock rises by 1%.

These leveraged ETFs have become highly popular this year as the crypto and stock markets have soard to a record high. Investors love them because they often have strong returns when stocks are in an uptrend.

The T-Rex 2x Long MSTR Daily Target fund, whose ticker is MSTU, has attracted over $1.8 billion in assets under management. Similarly, the Defiance Daily Target 2X Long MSTR ETF, with ticker symbol MSTX has accumulated $1.8 billion in assets.

These funds have done better than MicroStrategy in the past three months. MicroStrategy’s stock has risen by 150%, while the MSTU and MSTX shares are up by 308% and 253% in the same period.

MSTU vs MSTR vs MSTX | Source: crypto.news

However, the risk is that their performance is usually worse than that of the underlying stock in a bear market. MicroStrategy stock dropped by 24% in the last 30 days, while the MSTU and MST

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Author: Crispus Nyaga

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