ETFs  /  AIL

Pending

GraniteShares
2x Long Anthropic Daily ETF
2 Long Daily ETF

AIL, the GraniteShares 2 Long Anthropic Daily ETF, seeks daily results of 2 the daily move of Anthropic common stock.

An investment in these ETFs involves significant risk. Does not invest in the underlying stock. Income not guaranteed. Funds are distributed by ALPS Distributors, Inc.

AIL
Anthropic
2 Long ETF

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Ticker AIL
Fund listing Nasdaq Expected
Daily objective 2 (200%)
Fund type Single stock Leveraged, actively managed
Underlying ANTH
Status Pending Registration not yet effective

Please go through the Preliminary Prospectus and risk information before investing.

The information in this Prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This Prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

Preliminary prospectus

Read the full objective, strategy and risk disclosures for AIL in the preliminary prospectus.

The preliminary prospectus link will be added once available.

What AIL seeks

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The Fund seeks this result for a single trading day only, measured from one calculation of net asset value to the next. It does not seek to provide 2 of the return of the underlying stock over any period longer than a single day. Returns over longer holding periods may differ significantly, and that difference may be greater when the underlying stock is volatile.

Actively managed

The Fund is actively managed, not built to track an index. Each trading day the adviser adjusts its swap and option positions so the Fund seeks 2 that day's percentage change in Anthropic common stock.

Primarily swaps and options

The Fund seeks its daily objective mainly through swap agreements and options that reference Anthropic common stock, and it may also hold the underlying stock directly.

Daily reset

The Fund rebalances each trading day so it can seek 2 the next day's move. Because of this daily reset, holding across multiple days compounds daily results.

How the daily objective works

A 2 fund seeks to move 2 as much as the underlying stock on a single day. Because the Fund resets daily, the effect over several days depends on the path the stock takes, not just where it ends up. The example below is illustrative only and excludes fees and expenses.

This example is illustrative only. It is not a projection or a guarantee of any result.

Illustrative two day example
DayUnderlying stockAIL seeks (2 daily)
Start$100.00$100.00
Day 1 up 10%$110.00$120.00
Day 2 down 10%$99.00$96.00
After two days the stock is down 1.0%. Twice that move would be down 2.0%, yet the daily reset leaves the result down 4.0%. In volatile or sideways markets, this gap tends to widen.

Fund details

Key terms from the preliminary prospectus. Fees, the underlying stock's exchange and ticker, and the listing date are still to be confirmed and will be finalized in the effective prospectus.

Fund nameGraniteShares 2x Long Anthropic Daily ETF
TickerAIL
Listing exchangeNasdaq (expected)
Daily objective200% of the daily move of Anthropic common stock
RebalanceDaily
Primary instrumentsSwaps and options; may also hold the underlying stock directly
Management feeTo be confirmed
AdviserGraniteShares Advisors LLC
DistributorALPS Distributors, Inc.
Portfolio managers-
UnderlyingAnthropic — exchange and ticker to be confirmed
StatusPending — contingent on Anthropic's public listing

Key risks to understand

AIL uses leverage and is designed for sophisticated investors who understand daily leveraged strategies and monitor their positions frequently. It is not suitable for all investors. The points below are a summary — read the preliminary prospectus for the full description.

Leverage

A 2 fund magnifies daily gains and daily losses. If the underlying stock falls more than 50% on a single trading day, investors could lose all of their money.

Daily reset and holding period

The Fund seeks its objective for one trading day. Over longer periods the return can differ substantially from 2 of the underlying stock's return.

Compounding and volatility

Because results compound daily, volatile or choppy markets can erode value even when the underlying stock ends near where it started.

Underlying stock and IPO risk

Anthropic is expected to become newly public. Newly listed shares can be volatile and may have limited trading history and a small public float.

Derivatives and counterparty risk

The Fund seeks its objective mainly through swaps and options, which carry counterparty, liquidity, and valuation risks.

Not affiliated with Anthropic

GraniteShares, the GraniteShares ETF Trust, and GraniteShares Advisors LLC are not affiliated with Anthropic.

Questions about AIL

When will AIL start trading?

No date is confirmed. The listing is contingent on the registration statement becoming effective and on Anthropic completing its public listing. Register your interest below and we will notify you if and when AIL lists.

What does AIL seek to track?

AIL seeks daily investment results, before fees and expenses, of 200% of the daily percentage change of Anthropic common stock, for a single trading day only.

Can I hold AIL for the long term?

No. AIL is designed as a short term trading tool. It seeks its objective for one day at a time and is not intended to be bought and held. Over longer periods results can differ significantly from 2 of the underlying stock's return.

Does AIL hold Anthropic shares?

The Fund seeks its daily objective mainly through swap agreements and options that reference Anthropic common stock. It may also hold the underlying stock directly. It is an actively managed fund.

Documents

Marketing Product List Tax 2025 Graniteshares ETF ICI Primary Tax 2025 Graniteshares ETF ICI Secondary
View All Documents

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GraniteShares ETFs are not sponsored, endorsed, issued, sold, or promoted by these entities, nor do these entities make any representations regarding the advisability of investing in the GraniteShares ETFs. Neither ALPS Distributors, Inc nor GraniteShares are affiliated with these entities.

The Fund is distributed by ALPS Distributors, Inc, which is not affiliated with GraniteShares or any of its affiliates.