GraniteShares Adds Nine More ETPs To Offer Hedge Funds In-Built Leverage On Brand-Name US Stocks
Exchange traded products provider GraniteShares has launched nine new 3x leveraged and nine 3x inverse ETPs providing long and short exposure on Alphabet, Amazon, Apple, Microsoft, Netflix, Facebook, Nvidia, Tesla and Uber. The products are listed on the London Stock Exchange and are listed at a price of $5.00. The listing of the new products follows on from GraniteShares launching similar products based on FTSE100 stocks last year.
Will Rhind, Founder and CEO at GraniteShares commented: “We listed 3x short and leveraged ETPs on eleven FTSE 100 stocks in November last year. These are trading with tight spreads and starting to see significant traction. With increased market volatility and a stellar performance from leading companies within the US tech sector, many of which are familiar household names and widely followed by UK investors, now is a great time to launch our new products.
“Growth in stock markets is often concentrated in a small group of companies and our new products focus on some of the stocks that have been the key drivers of S&P 500 returns. If sophisticated investors believe that these stocks still have a long way to go in terms of growth and performance, they can use our products to multiply returns. However, if at any stage they think they are in a bubble and they expect their share prices to fall, we enable them to position to benefit from falling prices as well.
“Figures from ETFGI show that the global short and leveraged ETP market was worth around $77 billion at the end of last year, but most of this is in the US. Indeed, of the 20 largest short and leveraged ETPs in the world, 12 are listed in the US, six in Asia and there are just two in Europe (one in France and one in Germany). As with unleveraged ETFs, we believe that there is scope for significant growth in the short and leveraged ETP market in the UK and Continental Europe. We aim to play a key role in this both in terms of educating investors and giving them the toolkit to help them achieve their investment goals.”
Lida Eslami, Head of Business Development, ETP and IOB, London Stock Exchange, commented: “We congratulate GraniteShares on the listing of their new short and leveraged ETPs on London Stock Exchange. London is a leading ETP listing and trading venue, and our markets continue to offer investors a wide range of innovative products across assets classes and geographies, key to providing choice and diversification suited to their strategies.”
Timo Pfeiffer, Chief Markets Officer at Solactive, commented: "After our first and successful release with GraniteShares last year, we are delighted to see a continuation of their ETP series with us, this time expanding the underlyings to highly popular US stocks. The ETPs offer a leveraged play on high conviction ideas, giving sophisticated investors yet another slick tool in their toolbox to access their favourite names across the pond."
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