GraniteShares 2x Long IONQ Daily ETF
IONL
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- GraniteShares 2x Long IONQ Daily ETF (IONL) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 2 times (200%) the daily percentage change of the common stock of IonQ, Inc. (NYSE: IONQ), a leading developer of general-purpose quantum computing systems. Launched on March 24, 2025, and listed on the Nasdaq, IONL provides leveraged exposure to IONQ's stock performance through derivatives such as swaps and futures, rather than direct investment in the underlying shares; it targets sophisticated, short-term tactical traders who understand the risks of leverage, daily rebalancing, compounding effects, and potential losses even if IONQ rises over multi-day periods. The fund, managed by GraniteShares Advisors LLC with a net expense ratio of 1.50% (management fee 1.30%), has total net assets of approximately $8.14 million as of recent data and is distributed by ALPS Distributors, Inc. GraniteShares, the issuer of IONL, is a global asset manager founded in 2016 and headquartered at 222 Broadway, 21st Floor, New York, NY 10038; the firm specializes in innovative exchange-traded products including leveraged and inverse single-stock ETFs, commodity funds, high-income strategies, and YieldBOOST options income ETFs, with products listed on U.S., U.K., German, French, and Italian exchanges. GraniteShares manages over $10.9 billion in assets under management as of September 2025, backed initially by Bain Capital Ventures, and focuses on high-conviction solutions for professional investors without issuing K-1 forms. IONL forms part of GraniteShares' expanding lineup of 2x long single-stock daily ETFs targeting high-growth names in AI, quantum computing, cloud infrastructure, and digital media. In recent developments, GraniteShares launched IONL alongside companion 2x Long ETFs on Vertiv Holdings (VRTL) and Reddit (RDTL) on March 24, 2025, to meet demand for leveraged exposure to emerging tech leaders. The firm has aggressively expanded its YieldBOOST platform in late 2025, introducing new ETFs such as the YieldBOOST MARA (MAAY) and IONQ (IOYY) funds in November, followed by fund-of-funds structures including YieldBOOST Single Stock Universe (YBST), TopYielders (YBTY), RTYY, and HMYY in December, growing the suite's assets to over $787 million by October 2025. These launches underscore GraniteShares' strategic shift toward options-income strategies overlaid on leveraged single-stock ETFs, enhancing its portfolio of disruptive technology-focused products amid rapid AUM growth to $13 billion by October 2025.