GraniteShares 2X Long INTC ETF

• INTWB is a tokenised bStock representing GraniteShares 2x Long INTC Daily ETF, giving price exposure to the underlying that can be traded around the clock.

• It is not a fund unit. Holding the token does not make you a shareholder of the fund and confers no rights against the fund or its manager.

• The underlying is a daily-objective leveraged product, so this token inherits that structure and is unsuitable for holding over long periods.

• Issuer: GraniteShares

• Ticker: INTW

• Objective: 2x the daily return of Intel (INTC)

• Rebalancing: Daily

• Category: Leveraged single-stock fund

• The fund seeks twice the DAILY return of Intel shares.

• Daily leverage reset means multi-day performance will not equal twice Intel's move over the same period.

• This is single-stock leverage, so there is no diversification to absorb a company-specific shock.

• The fund gains exposure mainly through swap agreements.

• Leverage resets each trading day.

• It holds cash and collateral rather than a basket of stocks.

• You get price exposure to the underlying instrument.

• You do not get shareholder voting rights.

• Dividend or distribution treatment depends on the issuer's structure and is often not passed through.

• You take on issuer and custodian risk in addition to the price risk of the underlying.

Pros:

• It can amplify a one-day move.

• It needs no margin account.

• It can serve as a short-term trading tool.

Cons:

• Losses are amplified too.

• Daily reset causes decay over time.

• It carries single-stock risk.

• Leverage decay: the underlying resets its leverage daily, so holding for more than a day produces returns that differ from the stated multiple, usually unfavourably in volatile markets.

• Loss can be rapid and severe. A leveraged single-stock product can lose most of its value on a single adverse move in the underlying company.

• Counterparty risk: if the issuer or custodian fails, the backing may not be recoverable.

• Tracking risk: the token price can diverge from the underlying, particularly outside US market hours when the underlying does not trade.

• Liquidity risk: on-chain liquidity is thinner than the underlying market, so spreads can widen sharply.

• Regulatory risk: India does not yet have a settled framework for tokenised equities, and tax treatment remains unclear.

• Price risk specific to the underlying instrument.