On June 8, GraniteShares 2x Long MRVL Daily ETF rose 18.45% in regular trading, trading at $175.06/share, with trading volume of $316 million. The leveraged ETF surged as its underlying stock Marvell Technology rebounded sharply from a 16.7% decline in the prior session.

The rally was primarily driven by the announcement on June 6 that Marvell Technology will officially join the S&P 500 index effective June 22, a development widely anticipated after NVIDIA CEO Jensen Huang publicly endorsed Marvell as the next trillion-dollar company at Computex 2026 on June 2. The S&P 500 inclusion is expected to trigger significant passive fund inflows, as numerous index-tracking ETFs will be required to add Marvell shares to their portfolios.

The broader semiconductor sector also supported the move, with Marvell shares rising approximately 7-9% premarket on June 8 alongside gains in Micron Technology, ASML, and AMD. Since this ETF provides 2x daily leveraged exposure to Marvell, the approximate 9% underlying stock gain translated into the observed 18.45% ETF appreciation.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)