GraniteShares 2x Long NBIS Daily ETF

GraniteShares 2x Long NBIS Daily ETF (NASDAQ: NBIL) is a leveraged exchange-traded fund launched on October 7, 2025, by GraniteShares, a New York-based ETF provider known for high-conviction investment strategies. The fund seeks daily investment results of 2 times (200%) the daily percentage change of the common stock of Nebius Group N.V. (NASDAQ: NBIS), an Amsterdam-headquartered AI infrastructure company that builds GPU clusters, cloud platforms, and developer tools for global AI workloads. Designed exclusively as a short-term tactical trading vehicle, NBIL utilizes exchange-traded and FLEX options strategies—including deep in-the-money calls or synthetic forward options—to achieve its leveraged exposure, and is not intended for investors with a buy-and-hold horizon. With a net expense ratio of 1.50% per annum and approximately $151 million in market capitalization, the fund carries significant risks including amplified volatility, lack of diversification, and compounding effects that may cause performance to deviate meaningfully from the 2x objective over periods longer than a single trading day.