Strategy and Robinhood now lead a $4.5 billion large-cap ETF that was not built for crypto
A $4.5 billion US large-cap stock fund now has two crypto-sensitive companies at the top of its portfolio. The Fundstrat Granny Shots US Large Cap ETF's Sept. 4 holdings snapshot ranked Bitcoin-treasury company Strategy...
Bitcoin 1 Minute
Here is the latest from the digital-asset markets: 5 billion US large-cap stock fund now has two crypto-sensitive companies at the top of its portfolio. The Fundstrat Granny Shots US Large Cap ETF's Sept. 4 holdings snapshot ranked Bitcoin-treasury company Strategy (MSTR) first at 3.
02% and retail financial platform Robinhood Markets (HOOD) second at 2. Together they represented 6. 01% of the portfolio.
Market Dynamics
The fund, known by its ticker GRNY, reported $4. 533 billion in assets and 42 holdings as of Sept. GRNY owns equities, not Bitcoin, and describes itself as an actively managed US large-cap fund.
Yet its two largest holdings connect shareholders to crypto through public companies: Strategy through its Bitcoin treasury and Robinhood through a trading business that includes crypto. The snapshot demonstrates one route by which crypto-linked volatility can reach investors in a generalist stock portfolio. One fund cannot establish that mainstream managers broadly are replacing direct crypto allocations with proxy stocks.
Related Reading Funds are buying crypto stocks. Are they exposed to less risk — or more? The ranking followed an equal-weight reset and an MSTR rally GRNY's Aug.
Market Impact
21 rebalance notice said all holdings would be reset to equal weight. Strategy and Robinhood were already in the portfolio and remained there; neither was a new addition. The reset added Freeport-McMoRan, Intel, Lockheed Martin, Micron Technology, SiriusPoint and Vertiv.
It removed Air Products and Chemicals, American Express, Broadcom, Meta Platforms, Northrop Grumman, PNC Financial Services and Texas Pacific Land, according to the fund sponsor's full rebalance announcement. With 42 positions reset to equal weight, a simple starting benchmark is about 2. MSTR rose from a $119.
3, a gain of about 21. 4%, based on historical closing prices. That appreciation plausibly accounts for a substantial part of its rise above the equal-weight baseline and into first place.
Crypto markets are watching this development closely as investors weigh its potential impact on prices.
