GraniteShares Anthropic Bull & Bear Daily ETFs (AIL & ANS)

Important Information

The information contained in this Prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the U.S. Securities and Exchange Commission is declared effective. The Prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where such offer or solicitation is not permitted.

Carefully consider the funds' investment objectives, risks, charges, and expenses before investing. The preliminary prospectus and, when available, the prospectus contain this and other information about the funds and should be read carefully before investing.

Preliminary Prospectus, AIL & ANS

Provided here in full. Subject to completion or amendment.

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The funds

A matched long and short pair, built to launch together on equal terms.

Bull Listing exchange
to be confirmed
AIL
GraniteShares 2x Long Anthropic Daily ETF
+200%Seeks 200% of Anthropic's daily move
  • TickerAIL
  • UnderlyingAnthropic
  • Leverage factor2x
  • Daily resetYes
  • Expense ratioTo be confirmed
  • NAVPending launch
  • Closing pricePending launch
Bear Listing exchange
to be confirmed
ANS
GraniteShares 2x Short Anthropic Daily ETF
-200%Seeks 200% of the inverse of Anthropic's daily move
  • TickerANS
  • UnderlyingAnthropic
  • Leverage factor-2x
  • Daily resetYes
  • Expense ratioTo be confirmed
  • NAVPending launch
  • Closing pricePending launch

Fund data will be available when the funds begin trading.

Key features of AIL and ANS

The reasons traders reach for a leveraged single stock ETF instead of trading Anthropic directly, available once the stock is publicly listed.

Simple

Trade AIL or ANS in a standard brokerage account once they launch. No borrowing Anthropic stock and no collateral to post, whether you are positioning long or short.

High conviction

Act on a strong daily view on Anthropic in a single trade. AIL seeks 2x the daily move. ANS seeks 2x the inverse.

Control

No margin calls and no stock to borrow, unlike shorting Anthropic directly. Your loss is limited to the amount you invest, and with 2x leverage that full amount is at risk.

Why one day matters

The daily objective resets every day

A 2x daily fund seeks twice the move for one day. Over more than a day, the daily reset compounds, so results depend on the path of the market, not just where it starts and ends. Here is a simple, hypothetical example for AIL.

Anthropic the underlying
Day 1+10.0%
Day 2-9.1%
Two daysabout 0.0%
AIL seeks 2x the daily move
Day 1+20.0%
Day 2-18.2%
Two daysabout -1.8%

The stock ended roughly flat, yet the fund finished lower. The same path effect applies to ANS. This is why these funds are built for short holding periods and active monitoring.

Hypothetical, for illustration only. Assumes the fund achieves 2x the daily move each day, before fees and expenses. Not a projection or a guarantee of any result.

Anthropic 2x ETF

Frequently Asked Questions

What to know about the GraniteShares Daily Anthropic Long 2X ETF (AIL) and GraniteShares Daily Anthropic Short 2X ETF (ANS) ahead of launch.

Is there an Anthropic ETF? +
GraniteShares has filed for two. AIL seeks 2x the daily move of Anthropic and ANS seeks 2x the inverse. Both are coming soon and not yet available. They are built to launch once Anthropic is publicly listed.
What are the tickers for the GraniteShares Anthropic ETFs? +
AIL is the GraniteShares 2x Long Anthropic Daily ETF. ANS is the GraniteShares 2x Short Anthropic Daily ETF.
What are the GraniteShares Daily Anthropic 2X ETFs? +
AIL seeks daily investment results, before fees and expenses, of 200% of the daily performance of Anthropic. ANS seeks daily results of 200% of the inverse of the daily performance of Anthropic. There is no guarantee the funds will meet their objectives.
What is the difference between AIL and ANS? +
AIL is the bull. It seeks 2x the daily move of Anthropic. ANS is the bear. It seeks 2x the inverse of the daily move. They are a matched pair, built to launch together on equal terms.
Can I buy AIL or ANS today? +
No. Both funds are coming soon and are not yet available to trade. They cannot participate in Anthropic until Anthropic is publicly listed and each fund launches. Join the notify list to hear when that happens.
When will AIL and ANS begin trading? +
A registration statement for these funds has been filed with the SEC but has not yet become effective, and a launch date has not been announced. Sign up for email updates on this page to be notified when the funds begin trading.
How can I invest in Anthropic before the IPO? +
Anthropic is a private company and its shares do not trade on public exchanges before a listing. AIL and ANS do not hold Anthropic shares and are not a pre-IPO investment. They seek daily results tied to Anthropic's stock once it is publicly listed.
When is the Anthropic IPO? +
Anthropic has taken steps toward a public listing but has not confirmed a date or an exchange. AIL and ANS are built to launch once Anthropic is publicly traded.
Can I short Anthropic with an ETF? +
ANS seeks 2x the inverse of Anthropic's daily move. On a day Anthropic falls, ANS seeks to rise by twice that move, and the reverse when Anthropic rises. It is a daily objective that resets each day, and it will be available once Anthropic is listed and the fund launches.
What is a single stock leveraged ETF, and how does it work? +
A single stock leveraged ETF seeks a multiple of the daily move of one company rather than an index. AIL seeks 2x the daily move of Anthropic and ANS seeks 2x the inverse. The funds seek this through swaps and other derivatives, and the leverage resets at the end of each trading day.
What does 2x daily mean? +
It means the fund seeks twice the move of Anthropic for a single day. If Anthropic rises 3% on a day, AIL seeks about 6% that day. If Anthropic falls 3%, AIL seeks about a 6% decline. The objective is set each day and then resets.
Do the funds hold Anthropic stock? +
No. The funds seek their objectives through swaps and other derivatives. They do not invest in the underlying stock.
Why can a leveraged ETF lose value over time even when the stock recovers? +
Because the objective resets each day, results over more than one day depend on the path of the market, not just its start and end points. In choppy or volatile markets, daily compounding can pull a fund below 2x the move of the stock over the same period. This effect is often called volatility decay, and it is why these funds are built for short holding periods.
Can I hold these overnight or for the long term? +
These funds are built for short holding periods, typically a single day, and should be monitored actively. Held longer, results may differ significantly from 2x because of daily compounding. Holding overnight also carries gap risk, since news outside market hours can move the price before the next open.
What will the expense ratio be? +
The expense ratio is to be confirmed. Leveraged and inverse ETFs generally cost more than standard index ETFs. The final figure will be set out in the prospectus and shown on this page once the funds launch.
Who should consider these funds? +
Investing in the funds involves a high degree of risk. They are not suitable for all investors and should be used only by knowledgeable investors who understand the consequences of seeking daily leveraged or daily inverse results, including the impact of compounding.
What is a preliminary prospectus? +
A preliminary prospectus is filed with the SEC as part of a fund's registration statement before it becomes effective. It sets out the fund's objective, strategy, risks, charges, and expenses, and it is subject to completion or amendment. Securities may not be sold, and offers to buy may not be accepted, until the registration statement becomes effective.
How do I read the preliminary prospectus? +
The preliminary prospectus is available in full on this page, in the Preliminary Prospectus section above. It should be read carefully before investing.
Are these funds affiliated with Anthropic? +
No. GraniteShares is not affiliated with Anthropic, and these funds are not sponsored, endorsed, sold, or promoted by Anthropic. The Anthropic name is used for identification only.
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All performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. For the fund's most recent month end performance, please call 1(844) 476-8747.

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