Leverage Shares is preparing to launch a single-stock ETF tied to Cerebras Systems Inc (NASDAQ:CBRS) just a day after the stock's successful Nasdaq debut.

The Leverage Shares 2X Long CBRS Daily ETF (CBRG) seeks two times (200%) leveraged exposure to the performance of the Cerebras stock, while Leverage Shares 2X Short CBRS Daily ETF (SCBR) offers two times inverse exposure to the stock.

Both ETFs have an expense ratio of 0.75% and would allow investors to capitalize on short-term bullish and bearish moves in the stock.

Record Time Launch                       

In a Thursday post on X, Bloomberg ETF analyst Eric Balchunas said "LeverageShares’ 2x $CBRS launches tmrw, a mere 24hrs after the IPO today."

He stated that CBRS had a blockbuster IPO, surging 75% in its first trading session and generating a massive volume of $10 billion. The daily volume was more than that of Microsoft Corp (NASDAQ:MSFT).

The analyst outlined the timing between a "new IPO and 2x ETF tracking it” as the “new record. "

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Cerebras Blockbuster IPO

Cerebras stock debuted on Nasdaq and climbed 68.1% at the close on Thursday. The stock hit a high of $386.34 and a low of $300.00 and has extended its gain by about 6% overnight.

CEO Andrew Feldman positioned the company’s debut as a milestone in its long-term AI growth strategy. He claims that the company's large, data-crushing chips allow its specialized computers to run AI models faster than Nvidia Corp's (NASDAQ:NVDA) hardware.

He told CNBC that the AI chipmaker had reached a stage where going public made sense as the company scales rapidly in the AI computing sector.

Cerebras priced its IPO at $185 per share, amid strong investor enthusiasm for artificial intelligence infrastructure.

New ETFs In Focus

Both ETFs seek exposure to the company by employing various investment strategies such as swaps, futures contracts and other derivative instruments, according to the prospectus. 

CBRG will obtain a leveraged long exposure in Cerebras stock by purchasing deep in-the-money call option contracts or by entering into option combinations designed to replicate long exposure. On the other hand, SCBR will obtain short exposure by purchasing deep in-the-money put option contracts or by entering into option combinations designed to replicate short exposure. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.

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