Granite Shares, a $10 billion-plus asset manager with AUM, has filed a new leveraged ETF application to track the share prices of crypto-related companies such as Riot Plat form s, Marathon Digital, Mi croS tratzu, and Robin hood. These funds will be both long and short, and a 2x long ETF will generate twice the daily return of the corresponding stock. For example, when the Riot Plat form of stock goes up 1%, the Gran ite Shares 2x Long RIOT ETF will go up 2%. These leveraged ETFs have become very popular this year as the cryptocurrency and stock markets have reached all-time highs. Among them, the T-Rex 2x Long MSTR Daily Target Fund (ticker MSTU) has attracted over $1.80 billion in assets under management. Similarly, the Defiance Daily Target 2X Long MSTR ET F (ticker MSTX) has accumulated $1.80 billion in assets. These funds have outperformed MicroStruggy over the past three months, during which time MicroStruggle shares have risen 150%, while MSTU and MSTX have risen 308% and 253%, respectively. However, the risk is that in a bear market, they usually perform worse than the underlying stock. Mi croS tratzu stock has lost 24% in the past 30 days, while MSTU and MSTX have lost more than 50% in the same period.