GraniteShares has launched its first suite of 5X & 3X Leveraged ETPs on the FTSE MIB Index.
The firm writes that investors now have access, in euros and on the Italian Stock exchange, to four ETPs offering long and short daily leveraged exposures (5x and 3x) to the major Italian index.
The FTSE MIB is the primary benchmark Index for the Italian equity markets. Capturing approximately 80 per cent of the domestic market capitalization, GraniteShares writes that the Index is comprised of highly liquid, leading companies across the main sectors in Italy.
The FTSE MIB Index measures the performance of 40 Italian equities and seeks to replicate the broad sector weights of the Italian stock market. The Index is derived from the universe of stocks trading on the Borsa Italiana main equity market. Each stock is analysed for size and liquidity, and the overall Index has appropriate sector representation.
GraniteShares’ range of ETPs provide access to popular high conviction investment ideas in a single ticker symbol via ordinary brokerage accounts.
Will Rhind, Founder and CEO at GraniteShares says: “We’re very pleased to expand our Italian ETP offering by providing these exciting exposures to the FTSE MIB. Our 3X and 5X Long and Short ETPs allow sophisticated investors the opportunity to express bullish and bearish trades on the Italian market. These FTSE MIB ETPs complement our existing range of leveraged ETPs on popular stocks such as Tesla (3LTS) , NVIDIA (3LNV), Coinbase (3LCO) and others”.