This ETF provider is launching a new way to play Tesla

The exchange-traded fund provider helps investors place more bets on Wall Street’s most profitable momentum trades.

GraniteShares, which debuted its first batch of single-stock ETFs in the 2022 yearnow manages 20 of them. It includes GraniteShares YieldBoost TSLA ETF (TSYY)which was launched last month. The fund gives investors access to Tesla.

“It’s about more and more people taking responsibility for their own finances,” GraniteShares CEO William Rhind told CNBC. ETF Edge this week. “They want to be able to actively manage it and maybe try to outperform … That’s where we’re seeing things like leverage, single stocks really come into play.”

He calls the demand a “global phenomenon” because it’s not just an opportunity for American investors.

“We have investors all over the world who primarily turn to the US ETF market because that’s the biggest source of liquidity,” Rhind added. “They’re looking for names they know and love – the Teslas of the world (and) the world Nvidiay of the world. They’re only available here in the U.S., and that’s why people come here to trade them.”

But the firm admits that this strategy is not for everyone.

GraniteShares has a bold statement on its website: “Investing in these ETFs involves significant risks.”

As of Friday’s close, Tesla shares are nearly $100, or about 19%, below their all-time high reached on Dec. 18.