Themes ETFs Trust has unveiled a new lineup of 2x capped accelerated single-stock ETFs for 2025, offering investors amplified exposure to volatile stocks like Robinhood Markets Inc. and cryptocurrency-linked companies such as Coinbase Global Inc. and MicroStrategy Inc., according to a prospectus filed with the U.S. Securities and Exchange Commission.
The funds, part of the Leverage Shares by Themes series, aim to deliver up to 200% of the daily performance of their underlying stocks while capping potential upside and limiting losses to the initial investment, without requiring margin accounts. The initial batch includes the 2x Capped Accelerated COIN Monthly ETF (COIO), MSOO for MicroStrategy, TSLO for Tesla Inc., NVDO for Nvidia Corp., and PLTO for Palantir Technologies Inc., with a management fee of 0.75%. A separate fund targeting Robinhood (HOOD) was highlighted in industry discussions as part of this high-risk category.
Themes ETFs announced the cap rates for September, setting maximum monthly upsides at 15.3% for MSOO, 14.4% for COIO, 12.3% for TSLO and PLTO, and 8.2% for NVDO, reflecting the funds’ structured approach to leverage. These products build on Themes’ existing leveraged ETFs, which provide targeted exposure to leading stocks in tech and digital assets.
The launch aligns with a banner year for cryptocurrency adoption in the U.S., where spot Bitcoin ETFs have attracted $54.5 billion in inflows since January. The Chainalysis 2025 Global Crypto Adoption Index ranks the U.S. second worldwide, driven by regulatory approvals and institutional involvement. As of May 2025, the market featured 318 thematic ETFs, signaling a shift toward specialized vehicles amid clearer regulations.
Bloomberg analyst Eric Balchunas flagged the development on X, formerly Twitter, noting the bold addition of HOOD and crypto-related stocks to the leveraged ETF mix. His post, which included a screenshot of the prospectus, drew attention to the funds’ appeal for risk-tolerant investors: “New hot sauce flavor just dropped.. 2x Capped Accelerated single stock ETFs for $HOOD and bunch of crypto stocks.”
Industry observers warn of the inherent risks in leveraged ETFs, which can amplify losses during market downturns. A 2021 study in the Journal of Financial Economics linked such products to higher volatility and drawdowns in corrections. Still, the capped structure may mitigate some concerns by bounding exposure.
Themes ETFs, a registered investment adviser focused on low-cost thematic funds, emphasized that these are short-term investments carrying significant risk. Investors can access full details in the summary prospectus revised Aug. 30. The firm has expanded its leveraged offerings throughout 2025, including new funds for Galaxy Digital and Circle Internet Group in August.
Competitors like T-Rex Shares have similarly ramped up 2x long and short single-stock ETFs, covering assets from Nvidia to spot Bitcoin and Ethereum, with Robinhood’s ROBN among them. This proliferation underscores growing demand for amplified bets on crypto and tech amid broader market optimism.
SEC filings indicate the funds will trade on major exchanges, providing retail and institutional access without direct stock or crypto ownership. Analysts expect these products to draw inflows as U.S. crypto adoption accelerates, though experts advise caution given the potential for rapid value erosion in turbulent conditions.
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