Episode summary
Fundstrat’s Tom Lee: GRNY’s Success & Ethereum’s Future
ETF Prime
· · Hosts: Nate Geraci, Simeon Hyman · Guests: Tom Lee, Cinthia Murphy
Summary
The episode centered on what is driving ETF launch success since the start of 2024, with the host and an analyst arguing that crypto, income strategies, and distribution-heavy products have dominated new inflows. Excluding spot bitcoin and ether funds, the analyst highlighted mortgage-backed securities ETFs, option-income ETFs, money-market-style cash vehicles, and a few active funds as the biggest winners, saying the common thread is clear investor demand for yield, liquidity, and familiar brands.
The host then shifted to GRNY, the Fundstrat Granny Shots US Large Cap ETF, which has gathered more than $2.1 billion since launching in November. The guest said the strategy works because it combines multiple long-duration themes rather than making one-factor bets, and he argued that large-cap stocks can still outperform the so-called Mag 7 concentration story. He also said Fundstrat’s weekly videos and webinars have helped investors understand the process and stick with it through volatility.
The conversation closed with Ethereum and BitMine. The guest argued that Ethereum is becoming the preferred blockchain for Wall Street tokenization and AI-linked financial infrastructure, and said BitMine is being used as an Ethereum treasury company to increase per-share Ether exposure beyond what a spot ETF can offer.
Key takeaways
- The analyst said 10 of the top 20 ETF launches since early 2024 are crypto-related, showing how dominant digital assets have been for new inflows.
- The analyst argued that mortgage-backed securities ETFs have benefited from wide spreads, yield demand, and the distribution power of issuers like Schwab and JPMorgan.
- The guest said GRNY’s edge is combining multiple themes into one stock selection process rather than making single-theme bets.
- The guest said large-cap breadth is stronger than the “Mag 7” narrative suggests, pointing to GRNY’s holdings in names like JPMorgan, American Express, Axon, and Caterpillar.
- The guest argued Ethereum is entering a major adoption phase because Wall Street and AI projects are choosing it as the compliant blockchain.
- The guest said BitMine can outperform a spot ether ETF by increasing Ether per share over time, not just passively holding tokens.
Notable quotes
“Granny Shots is kind of proving that the market is not max 7 because we're only buying large cap stocks and we're beating max 7”
“the market is not mag seven because we're only buying large cap stocks and we're beating MAG seven”
How the episode opens
Granny Shots is kind of proving that the market is not max 7 because we're only buying large cap stocks and we're beating max 7. When you hear someone say the S&P is concentrated only seven stocks, Granny is proof that that is a false argument. All right.
Joining me will be Tom Lee, co-founder of Fundra Global Advisors, who's one of the top independent research firms on Wall Street. And of course, Tom himself, I think everybody knows who Tom is. He's a very prominent investment strategist with some 30 years of experience in equity research.
He's also a regular CNBC contributor. But just last year, Tom and Fundra Capital, which is an affiliate of Fundra Global Advisors, they launched what is now one of the fastest growing ETFs out there with the Fund Strat Granny Shots US Large Cap ETF. Picker Grny.
Great name, a great ticker. But listen to this. Granny launched in November of last year.
November. It's already over $2.1 billion dollars in assets. And I'll give you another stat, which is that out of 700 plus ETFs that have come to market since Granny launched, this ETF is now number five in inflows overall, which I would say is noteworthy for any issuer, but especially so for an independent issuer launching their first ETF.
And so Tom and I will discuss the success of this ETF. We'll get into how he's managing it and what he's seeing in the markets right now. And then since you all know that I cannot help myself, I'm also hoping to spend at least a few minutes talking Ethereum because Tom was recently appointed uh as the board chair for BitMine, which is a Bitcoin miner, but I believe they're now the largest publicly traded holder of Ether.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- grny etf success
- etf launches
- ethereum outlook
- fundstrat
Companies and tickers mentioned
- Fundstrat Global Advisors
- VettaFi
Watch the episode
Watch “Fundstrat’s Tom Lee: GRNY’s Success & Ethereum’s Future” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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ETF Prime, this episode and its artwork belong to Nate Geraci. Octagon is not affiliated with the show; this page is an independent summary.
