ETF provider GraniteShares has seen its assets under management double to $200 million in Europe in the past six months.
The firm, which offers a range of 3x short and 3x leveraged exchange-traded products (ETPs) on UK, US and French stocks, hit the $100 million assets under management milestone in April this year, and has continued to build assets after releasing new products listed on the London Stock Exchange (LSE) and from September when products were also listed on Euronext in Paris.
New products include a leveraged single stock ETP on NIO, an electric vehicle maker and distributor also known as the ‘Chinese Tesla’, as well as “conviction tech ‘basket’ products” including FAANG, GAFAM and FATANG ETPs.
FAANG consists of Facebook, Amazon, Apple, Netflix, and Google while GAFAM includes Google, Apple, Facebook Amazon, and Microsoft and FATANG covers Facebook, Amazon, Tesla, Apple, Netflix, and Google.
The firm’s leveraged and short LSE-listed ETPs also saw record levels of trading. In the third quarter of 2021, $300 million was traded – a 3% increase compared to the volume seen in the final quarter of 2020.
The expansion began two years ago after GraniteShares listed its first 3x short and 3x leveraged ETPs on 11 FTSE 100 stocks, followed by ETPs on US tech stocks in July 2020.
William Rhind, founder and CEO of GraniteShares, said: “The doubling of our European AUM in just six months underlines the significant and growing demand for this new and exciting category of ETPs.
“Trading volumes across our range of products is increasing rapidly demonstrating how sophisticated investors are increasingly adopting strategies which used to be exclusive to institutional investors. More generally the growth in our platform has been driven by an increasing interest in investing throughout the pandemic and now re-opening.”
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