This ETF provider is launching a new way to play Tesla

An exchange-traded fund provider helps investors place more bets on Wall Street’s most profitable momentum trades.

GraniteShares, which debuted its first tranche of a single-share ETF in 2022now manages 20 of them. It includes GraniteShares YieldBoost TSLA ETF (TSYY)which launched last month. The fund provides investors with exposure to Tesla.

“It’s about more and more people taking responsibility for their own finances,” GraniteShares CEO William Rhind told CNBC “ETF Edge” this week. “They want to be able to actively manage that and maybe try to outperform … That’s where we’re seeing things like leverage, single stocks really come into play.”

He calls the search a “global phenomenon” because it’s not just an opportunity for U.S. investors.

“We have investors all over the world looking to the U.S. ETF market first because that’s the biggest source of liquidity,” Rind added. “They’re looking for the names they know and love—the Tesla of the world(s) of Nvidiaof the world. They’re only available here in the U.S., and that’s why people come here to trade them.”

But the firm admits the strategy isn’t right for everyone.

GraniteShares includes a boldface disclosure on its website: “Investing in these ETFs involves significant risks.”

As of Friday’s close, Tesla shares are down nearly $100, or about 19%, from their all-time high reached on Dec. 18.