On June 8, GraniteShares 2x Long MRVL Daily ETF rose 12.39% overnight, trading at $168.97/share, with trading volume of $820,500. The leveraged ETF's gain reflects the underlying strength in Marvell Technology shares following a major index inclusion announcement.

S&P Dow Jones Indices announced that Marvell Technology will be added to the S&P 500 index effective June 22, replacing Pool Corp. The inclusion triggers mandatory buying from passive funds tracking the benchmark, with trillions of dollars in assets linked to the index. Marvell's market capitalization of approximately $230 billion far exceeds the index's $22 billion minimum threshold. The company had previously cleared the key GAAP profitability hurdle that had blocked its entry.

The inclusion caps a remarkable week for Marvell, during which Nvidia CEO Jensen Huang called it the next trillion-dollar company at Computex, highlighting its critical role in AI data center connectivity. Nvidia has made a $2 billion strategic investment in Marvell. The company also raised its fiscal 2028 revenue outlook to $16.5 billion, driven by surging demand for custom AI chips.

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