GraniteShares 2x Long PLTR Daily ETFPTIR

The GraniteShares 2x Long PLTR Daily ETF (PTIR) launched as the concentrated answer to Palantir’s headline momentum, but the fund’s real star is the 1.30% annual fee that compounds daily alongside its 2x exposure. The ETF doesn’t hold Palantir shares directly; instead, it uses swap agreements with counterparties to deliver the daily leverage, which means the wrapper’s performance is inseparable from the credit risk of those swaps. The Nasdaq listing confirms PTIR trades under its own ticker, but the fund’s mechanics are less about ‘owning Palantir’ and more about outsourcing the daily leverage to a swap desk that resets the position each afternoon.

GraniteShares markets PTIR as a ‘daily concentrated play on Palantir,’ yet the fund’s holdings list and replication method are secondary to the fee and the swap chain. The SEC filing on EDGAR confirms PTIR is structured as a daily reset concentrated ETF, not a traditional equity basket, which means the wrapper’s returns can diverge sharply from Palantir’s share price over anything longer than a single session. The fund’s prospectus and periodic filings disclose the 1.30% expense ratio and the swap-based replication, but they do not provide forward-looking return simulations or counterparty risk disclosures beyond the standard boilerplate.

The FINRA Fund Analyzer allows investors to compare PTIR’s fee against other concentrated products, but it does not reveal the swap counterparties’ identities or credit ratings-details that would matter if the fund’s daily reset ever stumbles into a liquidity crunch. The fund’s AUM and liquidity metrics are not disclosed in the sourced materials, leaving traders to infer trading volume and size from Nasdaq’s market activity page alone, which tracks ticker-level turnover but not the underlying swap chain’s health.

The trading route for PTIR is live on Nasdaq, and the fund’s chart context is available via the same market activity link, but neither source provides intraday levels, volume profiles, or historical spread data. The fund’s mandate is clear: deliver 2x the daily return of Palantir’s stock price, reset daily, and charge 1.30% per year for the privilege. What remains unproven is how the swap counterparties will behave during a Palantir drawdown, how the fund’s AUM will evolve under stress, and whether the 1.30% fee will compress further as the wrapper scales.

What would deepen this file? Official disclosures on the swap counterparties, periodic holdings lists, and AUM/liquidity figures from GraniteShares’ investor reports or SEC filings. Until then, PTIR’s story is less ‘Palantir rocket fuel’ and more ‘daily leverage with a side of fee drag.