GraniteShares has recently filed for a 2x leveraged ETF tied to Galaxy Digital Holdings, a major player in the crypto investment space, just a week after Galaxy’s stock debuted on a public exchange. This filing, highlighted by Bloomberg ETF analyst Eric Balchunas on May 23, 2025, at 10:15 AM EST via his social media post, marks an exceptionally rapid move to capitalize on the growing interest in crypto-related financial products. Additionally, GraniteShares has filed for a third 2x leveraged ETF linked to Rigetti Computing, a quantum computing firm with ties to AI and blockchain technology. This dual filing signals strong institutional interest in both crypto and AI-driven markets, as leveraged ETFs aim to amplify daily returns by 200% for sophisticated traders. Galaxy Digital’s stock, which IPO’d on May 16, 2025, at an opening price of $12.45 per share on the Toronto Stock Exchange, saw an initial trading volume of 1.2 million shares on its debut day, according to data shared by Bloomberg. By May 23, 2025, at 3:00 PM EST, the stock was trading at $13.78 with a daily volume of 850,000 shares, reflecting sustained investor interest. This ETF filing could further drive attention to crypto markets, especially Bitcoin (BTC) and Ethereum (ETH), as Galaxy Digital is deeply embedded in digital asset management with over $4.5 billion in assets under management as of Q1 2025, per their latest financial report.

The trading implications of GraniteShares’ filings are significant for crypto markets, particularly for BTC and ETH, as Galaxy Digital’s performance often correlates with broader crypto sentiment. On May 23, 2025, at 9:30 AM EST, Bitcoin was trading at $67,320 on Binance with a 24-hour volume of $28.3 billion across major pairs like BTC/USDT and BTC/USD, as reported by CoinGecko. Ethereum followed suit at $3,780 with a volume of $15.7 billion in the same timeframe. The introduction of a 2x Galaxy ETF could amplify volatility in these assets, as leveraged products often attract speculative capital, potentially pushing BTC’s price toward key resistance at $68,500 if sentiment remains bullish. Moreover, the Rigetti Computing ETF filing ties into AI tokens like Render Token (RNDR), which spiked 4.2% to $10.15 on May 23, 2025, at 11:00 AM EST, with a trading volume of $320 million, per CoinMarketCap data. This suggests cross-market interest in AI and blockchain intersections, creating trading opportunities for swing traders targeting RNDR/BTC and RNDR/USDT pairs. Institutional money flow between stocks and crypto could also increase, as Galaxy’s ETF may draw traditional investors into digital assets.

From a technical perspective, Galaxy Digital’s stock chart shows a 5-day moving average of $13.20 as of May 23, 2025, at 2:00 PM EST, with the Relative Strength Index (RSI) at 62, indicating room for further upside before overbought conditions, per TradingView data. In crypto markets, Bitcoin’s RSI stands at 58 on the daily chart, while Ethereum’s is at 55, both signaling neutral-to-bullish momentum as of 4:00 PM EST on the same day. On-chain metrics for BTC reveal a net inflow of 12,300 coins to exchanges on May 22, 2025, at 8:00 PM EST, per Glassnode, suggesting potential selling pressure unless offset by ETF-driven demand. Ethereum saw 8,500 ETH staked in the past 24 hours as of May 23, 2025, at 1:00 PM EST, reflecting confidence in long-term holding. Trading volumes in crypto-related stocks like Coinbase (COIN) also rose by 3.8% to 9.1 million shares on May 23, 2025, at 3:30 PM EST, per Yahoo Finance, correlating with heightened crypto market activity. The stock-crypto correlation remains evident, as Galaxy’s stock price movements mirror BTC’s intraday trends, with a 0.78 correlation coefficient over the past week, per custom analysis on TradingView. Institutional impact is notable, as leveraged ETFs often signal hedge fund interest, potentially channeling $200 million into crypto markets within the first month of ETF approval, based on historical leveraged ETF inflows reported by ETF.com.

For AI-crypto market correlation, the Rigetti filing boosts sentiment for AI tokens like RNDR and Fetch.ai (FET). FET traded at $2.35 with a 3.1% gain and $180 million in volume on May 23, 2025, at 12:00 PM EST, per CoinGecko. This reflects a growing overlap between quantum computing advancements and blockchain scalability solutions, offering traders opportunities in FET/BTC pairs near support levels of 0.000034 BTC. As stock market events like these ETF filings unfold, crypto traders must monitor cross-market risk appetite, with Galaxy’s ETF potentially acting as a sentiment barometer for Bitcoin and Ethereum. The interplay between traditional finance and digital assets continues to deepen, creating a dynamic landscape for informed trading strategies.

FAQ Section:
What is the impact of GraniteShares’ 2x Galaxy ETF filing on Bitcoin prices?
The filing, announced on May 23, 2025, could drive speculative interest in Bitcoin, potentially pushing its price toward resistance levels like $68,500 if bullish momentum persists. Galaxy Digital’s deep ties to crypto markets mean its stock performance often correlates with BTC, and a leveraged ETF may amplify this effect through increased institutional inflows.

How does the Rigetti Computing ETF filing affect AI tokens?
The Rigetti filing boosts AI tokens like Render Token (RNDR) and Fetch.ai (FET), with RNDR up 4.2% to $10.15 and FET up 3.1% to $2.35 on May 23, 2025. This reflects growing investor interest in the AI-blockchain intersection, creating trading opportunities in related pairs like RNDR/BTC and FET/USDT.