Leverage Shares

What Leverage Shares does

Leverage Shares, founded in 2017 by José Carlos González-Navarro, Dobromir Kamburov, and Tracy Gilvarry Grant, operates as a specialized ETP/ETF issuer focused on physical-replication-accessible leveraged and inverse products on single stocks and select commodities and cryptocurrencies. The firm is headquartered in Dublin, Ireland, with its US operational seat in Greenwich, Connecticut, and lists products on Cboe, NYSE, Nasdaq, the London Stock Exchange, and the SIX Swiss Exchange. Its core technology uses synthetic replication via total return swaps, options, and futures to deliver daily 2x or -2x exposure to underlying stocks, with daily rebalancing mechanisms and US Treasury-backed collateral distinguishing it from competitors using lower-grade cash equivalents. The catalog spans two main formats: Daily Leveraged ETFs (2x long, 2x short, and 3x variants on crypto) and Capped Accelerated Monthly ETFs offering 2x upside with 1x downside up to a published monthly cap.

Revenue is generated almost entirely through ETF management fees, with a standard 0.75% expense ratio on most 2x single-stock products and 0.99% on specialized tickers, materially below the 1.25% peer-group average. The go-to-market combines an event-driven product-launch engine timed to high-profile IPOs (SpaceX in June 2026, Cerebras in May 2026) with distribution through 10+ major US brokerage platforms plus a content-and-research-led marketing motion aimed at sophisticated and active traders. Customer segmentation is horizontal: roughly 90% of leveraged single-stock ETF trading volume comes from retail investors, with secondary demand from tactical hedge and earnings-trade use cases among sophisticated traders. Group AUM stood at $1.369B at year-end 2025 and surpassed $1.5B in early 2026, with 2025 trading turnover of $21B, up 53% year over year. The firm is private and founder-controlled, with no disclosed external institutional capital and an 11-50 headcount.

Name

Leverage Shares

Legal name

Leverage Shares PLC

Website

https://leverageshares.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Leverage Shares is a private ETP issuer offering leveraged and inverse single-stock ETFs across US and European exchanges, serving active and retail traders seeking defined-risk amplified exposure to individual equities and crypto without margin accounts.

Ownership category

akta.pro rank

Product category

Leveraged Single-Stock ETFs

NAICS

Open-End Investment Funds (525910), Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221), Finance Services (6199)

akta.pro primary industry

Leveraged & Inverse ETFs (FSAAAFAK)

akta.pro secondary industry

Leveraged Tokens & Synthetic Leveraged ETPs (Crypto) (FSADAGAF)

Keywords

• Leveraged ETFs
• Single-stock ETPs
• Daily leveraged funds
• Inverse ETFs
• Capped accelerated ETFs

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. ETF Management Fees: Annual management fees charged on ETF assets under management. Most products carry 0.75% expense ratios, with some newer or specialized products at 0.99%. Fees are calculated daily and reduce the fund's NAV.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Leverage Shares is an ETP issuer offering leveraged and inverse exchange-traded products providing magnified daily exposure (primarily 2x long and 2x short) to individual stocks, plus capped accelerated monthly products with approximately 2x upside and 1x downside. Products use synthetic replication via total return swaps, options, and futures to deliver defined-risk leverage without margin accounts, and are listed on major US and European exchanges. The firm manages over 200 ETPs spanning single stocks, commodities, AI infrastructure, and cryptocurrency.

Product overview

Leverage Shares by Themes is a provider of leveraged single-stock exchange-traded funds (ETFs) operating two main product categories: Daily Leveraged ETFs (2x Long and 2x Short) and Capped Accelerated Monthly ETFs. The Daily Leveraged ETFs target 200% (or -200% for short) of the daily performance of individual stocks using derivatives like total return swaps, rebalancing daily to maintain leverage ratios. The Capped Accelerated ETFs deliver approximately 2x the monthly upside of underlying stocks up to a published cap, with 1x downside exposure, resetting monthly. Products trade on Cboe and Nasdaq exchanges. The company offers over 100 single-stock leveraged ETF products including major holdings like SpaceX (SPCH/SSPC), NVIDIA, Tesla, Coinbase, MicroStrategy, Palantir, and various semiconductor and technology stocks. Management fees range from 0.75% to 0.99% annually, approximately 40% lower than industry averages.

Differentiator

Problem solved

Functional benefit

Brands

• IncomeShares: Options-based income ETPs providing yield strategies on major stocks and commodities, cross-listed on Euronext Amsterdam.
• Capped Accelerated ETFs

Products and services

• 2x Long SPCX Daily ETF (SPCH) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of SpaceX stock (SPCX), minus fees. Designed for sophisticated investors seeking magnified short-term bullish exposure via transparent leverage without a margin account.
• 2x Short SPCX Daily ETF (SSPC) -2x Daily Leveraged (Bear) ETF providing -200% the daily performance of SpaceX stock (SPCX), minus fees. Allows traders to express short-term bearish views without margin requirements.
• 2x Long CBRS Daily ETF (CBRG) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of Cerebras Systems stock (CBRS), minus fees. Launched May 15, 2026 following Cerebras IPO. Features 0.75% expense ratio.
• 2x Long AEHR Daily ETF (AEHG) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of Aehr Test Systems stock (AEHR), minus fees. Targets active traders seeking amplified exposure to the semiconductor equipment company.
• 2x Long CDNS Daily ETF (CDNG) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of Cadence Design Systems stock (CDNS), minus fees. Offers magnified exposure through a regulated, liquid leveraged ETF structure on Cboe.
• 2x Long FPS Daily ETF (FPSX) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of Forgent Power Solutions stock (FPS), minus fees. Traded on Cboe with 0.75% expense ratio.
• 2x Long FORM Daily ETF (FOMG) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of FormFactor stock (FORM), minus fees. Features 0.75% expense ratio, approximately 40% lower than category average.
• 2x Long ENTG Daily ETF (ENTL) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of Entegris stock (ENTG), minus fees. Traded on Cboe with tight spreads and intraday liquidity.
• 2x Long ASTS Daily ETF (ASTG) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of AST SpaceMobile stock (ASTS), minus fees. Features 0.99% expense ratio.
• 2x Long GFS Daily ETF (GFSG) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of GlobalFoundries stock (GFS), minus fees. Features 0.99% expense ratio.
• 2x Long NXPI Daily ETF (NXPG) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of NXP Semiconductors stock (NXPI), minus fees. Features 0.75% expense ratio.
• 2x Long SNDK Daily ETF (SNDG) 2x Daily Leveraged (Bull) ETF providing 200% the daily performance of SanDisk stock (SNDK), minus fees. Launched May 12, 2026. Features 0.75% expense ratio.
• 2x Capped Accelerated MSTR Monthly ETF (MSOO) 2x Capped Accelerated Monthly ETF providing approximately 200% the monthly upside of MicroStrategy stock (MSTR) up to a published monthly cap, with approximately 1x downside exposure. Listed on Cboe with 0.75% expense ratio.
• 2x Capped Accelerated NVDA Monthly ETF (NVDO) 2x Capped Accelerated Monthly ETF providing approximately 200% the monthly upside of NVIDIA Corporation stock (NVDA) up to a published monthly cap, with approximately 1x downside exposure.
• 2x Capped Accelerated PLTR Monthly ETF (PLOO) 2x Capped Accelerated Monthly ETF providing approximately 200% the monthly upside of Palantir Technologies stock (PLTR) up to a published monthly cap, with approximately 1x downside exposure.
• 2x Capped Accelerated TSLA Monthly ETF (TSLO) 2x Capped Accelerated Monthly ETF providing approximately 200% the monthly upside of Tesla stock (TSLA) up to a published monthly cap, with approximately 1x downside exposure.
• 2x Capped Accelerated COIN Monthly ETF (COIO) 2x Capped Accelerated Monthly ETF providing approximately 200% the monthly upside of Coinbase Global stock (COIN) up to a published monthly cap, with approximately 1x downside exposure.
• 3x Long and Short Bitcoin and Ethereum ETPs First 3x Long and Short Bitcoin and Ethereum ETPs listed on SIX Swiss Exchange. Available in EUR and USD. Global premiere of world's first triple-leveraged Bitcoin and Ethereum products on a regulated exchange.
• Leveraged Commodity ETPs 21 new leveraged, inverse, and white label ETPs listed on London Stock Exchange. Spans commodities, semiconductors, AI infrastructure, and cryptocurrency sectors. Offers 3x and 5x leveraged exposure and inverse products for hedging.
• European Single-Stock Leveraged ETP Suite (160+ products) 160+ ETPs in Europe offering leveraged and unleveraged exposure to single stocks, ETFs, and commodities. Established Europe's largest single-stock ETP provider.
• IncomeShares Options-Based Income ETPs

Quantifiable outcome

• 40% lower expense ratios than industry average for leveraged single-stock ETFs
• +3 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators12 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• REX Shares (REX Financial): REX Shares offers leveraged single-stock and crypto-linked ETFs (e.g., TSL, AMZD, crypto-themed products) and competes with Leverage Shares in the retail single-stock leveraged category, including on Cboe and other US exchanges.
• GraniteShares: GraniteShares is one of the closest direct competitors to Leverage Shares, issuing leveraged and short single-stock ETFs (e.g., the MicroSectors product family) at comparable fee levels. Both compete head-to-head for retail trading flow on the same underlying tickers and exchanges.
• Tuttle Capital Management: Tuttle Capital is a prolific issuer of thematic and leveraged single-stock ETFs with a heavy short-term trading orientation. Its rapid product cadence and aggressive single-stock leverage themes put it in direct competition with Leverage Shares' daily leveraged product suite.
• AXS Investments: AXS Investments is an emerging ETF issuer focused on leveraged and thematic single-stock ETFs (e.g., TSLL, NVDL equivalents). It directly overlaps Leverage Shares' 2x single-stock offering and competes for the same retail traders.
• Roundhill Investments: Roundhill is a thematic and leveraged ETF issuer (e.g., TSLY, NVDY, MSTY covered-call and single-stock leveraged products). It targets the same retail trader audience as Leverage Shares with adjacent product structures and was also named in the SEC 5x filings.
• Direxion: Direxion is a major US issuer of leveraged and inverse ETFs across single stocks and indices, with deep retail distribution. It competes directly with Leverage Shares in the leveraged single-stock category and was named alongside Leverage Shares in the SEC's 5x leverage pushback.
• ProShares: ProShares is a leading US leveraged and inverse ETF provider (e.g., SDS, QID, SSO) with broad retail and advisor distribution. It overlaps Leverage Shares in daily-reset leveraged equity exposure and was also targeted by the SEC's high-leverage inquiry.

Regional players

• 21Shares: 21Shares is a major European crypto ETP issuer (also listing on SIX Swiss). Its single-asset crypto ETP suite overlaps Leverage Shares' 3x leveraged Bitcoin/Ethereum ETPs on the same exchange, though 21Shares is a regional/European crypto specialist rather than a US single-stock leveraged peer.

Emerging players

• Defiance ETFs: Defiance ETFs focuses on next-generation thematic and leveraged ETFs (e.g., AI, quantum, single-stock leveraged products). It overlaps Leverage Shares on thematic single-stock leverage but is more thematic-niche than a pure leveraged single-stock specialist.
• Volatility Shares: Volatility Shares offers leveraged and thematic ETFs (including single-stock and volatility-linked exposure). It is a smaller competitor with partial overlap to Leverage Shares' leveraged single-stock and crypto ETP offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/leverageshares
• Facebookfacebook.com/LeverageSharesETPs
• LinkedInlinkedin.com/company/leverageshares

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Leverage Shares