Pending Registration not yet effective

ETFs  /  Leverage  /  ANS

Anthropic 2x Short Single Stock · Daily

ANS

GraniteShares 2x Short Anthropic Daily ETF

Register your interest in ANS. We will send a single notice if and when the Fund lists, plus a link to the final prospectus.

Register interest Preliminary prospectus
Preliminary prospectus

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

Open the preliminary prospectus in a new tab

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.

ANS — Preliminary Prospectus Open in new tab
Having trouble viewing the document? Open the preliminary prospectus in a new tab

What ANS seeks

ANS is the GraniteShares 2x Short Anthropic Daily ETF. The Fund seeks daily investment results, before fees and expenses, of 2x the inverse (-200%) of the daily percentage change of the common stock of Anthropic.

The Fund seeks this result for a single trading day only, measured from one calculation of net asset value to the next. The Fund does not seek to provide 2x the inverse (-200%) 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 2x the inverse (-200%) of 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 2x the inverse (-200%) of the next day's move. Because of this daily reset, holding across multiple days compounds daily results.

How the daily objective works

A 2x fund seeks to move 2 times as much as the underlying stock on a single day, in the opposite direction. 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 seeks to show why holding beyond one day can produce a result that differs from 2x the inverse (-200%) of the multi-day move. This example is illustrative only. It excludes fees and expenses and is not a projection or a guarantee of any result.

Illustrative two day example
Underlying stock ANS seeks (2x daily)
  1. Start $100.00 $100.00
  2. Day 1 up 10% $110.00 $80.00
  3. Day 2 down 10% $99.00 $96.00
Stock, two days−1.0%
Inverse of 2 times that move2.0%
2x daily result−4.0%

After two days the stock is −1.0%. The inverse of 2 times that move would be 2.0%, yet the daily reset leaves the 2x result at −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 finalised in the effective prospectus.

Fund name GraniteShares 2x Short Anthropic Daily ETF
Ticker ANS
Listing exchange To be confirmed Expected
Daily objective 2x the inverse (-200%) of the daily move of Anthropic common stock
Rebalance Daily
Primary instruments Swaps and options May also hold the underlying stock directly
Management fee To be confirmed
Adviser GraniteShares Advisors LLC
Distributor ALPS Distributors, Inc.
Portfolio managers To be confirmed
CUSIP To be confirmed
Underlying Anthropic (ANT) Exchange and ticker to be confirmed

Key risks to understand

ANS 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 2x fund magnifies daily gains and daily losses. If the underlying stock rises 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 2x the inverse (-200%) 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 risk

Anthropic common stock may be newly listed or thinly traded. 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.

For the complete description of the Fund's objective, strategy, and risks, read the preliminary prospectus.

Questions about ANS

When will ANS start trading?

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

What does ANS seek to track?

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

Can I hold ANS for the long term?

No. ANS 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 2x the inverse (-200%) of the underlying stock's return.

Does ANS 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
Pending

Be the first to know

Register your interest in ANS. We will send a single notice if and when the Fund lists, plus a link to the final prospectus.

Something went wrong — please try again. Registered. We will notify you about ANS.

Preliminary prospectus, subject to completion. The information in the prospectus is not complete and may be changed. A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, and offers to buy may not be accepted, before the registration statement becomes effective.

Search

Popular Topics Popular

You are leaving GraniteShares.com

You are now leaving GraniteShares. We are not responsible for the content on any external website linked to from within this site. Opinions expressed are those of the author or fund manager as of the publication date and are subject to change, are not guaranteed, should not be considered recommendations to buy or sell any security, and should not be considered investment advice.

ALPS is not affiliated with any mentioned entity. Client brokerage services not offered by ALPS. Please see third party site for more information about any mentioned services.

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.