GraniteShares is shutting the Lucid-linked leveraged fund after it lost about 92% of its value, with shares still trading above a negative net asset value as of July 14.
GraniteShares has moved to wind down the GraniteShares 2x Long LCID Daily ETF, listed on Nasdaq under ticker LCDL, after losses tied to Lucid Group stock drove the fund’s net asset value into negative territory. The product, which launched on April 22, 2025 to deliver twice the daily performance of Lucid’s shares, had lost about 92% of its value. As of July 14, its net asset value stood at negative $0.0156 while its shares were trading at $0.2876, underscoring a sharp disconnect between market price and underlying value. The closure adds to a broader round of leveraged ETF liquidations by GraniteShares, including BULX, ETRL and MSDD, and highlights the well-known risks of single-stock leveraged ETFs, whose daily reset structure can erode returns over time through volatility decay and compounding.