Why Leverage Shares 2X Long CRWV Daily ETF (CRWG) Is Up +77% in the Last 30 Days
Key Takeaways
- CRWG is a single-stock leveraged ETF seeking 200% (2x) of the daily return of CRWV, the AI-focused cloud infrastructure provider CoreWeave.
- The fund climbed roughly 77% over the last 30 days, rebounding from a closing low of $10.81 to about $19.11 as CoreWeave's second-quarter results reignited investor demand.
- Over the full quarter, CRWG remains down approximately 50%, reflecting the severe July drawdown that preceded the recent recovery.
- CoreWeave's Q2 beat — $2.58 billion in revenue, up 112% year over year, and a $104 billion backlog — was the primary catalyst for the rally.
- Late-month macro pressures, including higher Treasury yields and geopolitical tensions, trimmed gains from the mid-August peak.
Leverage Shares 2X Long CRWV Daily ETF (CRWG) Overview and Portfolio Exposure
CRWG seeks daily leveraged investment results equal to 200% of the daily percentage change in the common stock of CoreWeave, Inc. (CRWV). Launched in August 2025, it is an actively managed, non-diversified single-stock leveraged ETF rather than a diversified index fund. It carries a total expense ratio of 0.75% and a relatively small asset base of roughly $100 million in assets under management (AUM), meaning its total assets fluctuate with market moves and flows.
The fund delivers exposure through swaps and other derivatives, with collateral held in U.S. Treasury obligations — its largest reported holding is the First American Treasury Obligations Fund (FXFXX). Because CRWG amplifies a single underlying security on a daily basis, its price action is essentially a magnified, leveraged reflection of CoreWeave's own volatility, compounded by daily rebalancing effects over multi-day holding periods.
Leverage Shares 2X Long CRWV Daily ETF (CRWG) Price Performance: Last 30 Days vs. Quarter
Over the last 30 days, CRWG advanced roughly 77%, rising from a closing price of $10.81 to approximately $19.11. The move was volatile and trend-driven rather than gradual: the fund spiked sharply in mid-August after CoreWeave's earnings and then retraced part of the advance.
The longer-term picture is different. Measured over the past quarter, CRWG is still down approximately 50% from the roughly $38–$40 range it traded at in late May. That contrast underscores the fund's extreme two-way risk: a powerful short-term rebound has not yet erased the steep losses suffered during the July selloff in AI infrastructure equities.
What Drove CRWG Price in the Last 30 Days
The dominant catalyst was CoreWeave's second-quarter earnings report. CoreWeave posted revenue of $2.58 billion, up 112% year over year and ahead of consensus, while its revenue backlog reached $104 billion, up 246% from a year earlier. Management raised full-year 2026 revenue guidance to a range of $12.4 billion to $13.2 billion and reported adjusted EBITDA of about $1.5 billion, a roughly 59% margin. The stock surged roughly 18% or more in response, and CRWG — with 2x daily leverage — jumped from about $21.94 to $30.25 in a single session.
CoreWeave's deepening relationship with NVDA (Nvidia) also supported sentiment, as the company became one of the first cloud providers to test Nvidia's next-generation Vera Rubin NVL72 platform. The rally also reflected a sharp rebound from a July unwind of crowded AI-infrastructure positions, which had driven CRWG to its lows.
Gains were later trimmed as the 10-year Treasury yield climbed above 4.74%, crude oil rose on Middle East tensions, and investors weighed CoreWeave's heavy capital spending of $35 billion to $39 billion for 2026 alongside a $626 million net loss and $640 million in quarterly interest expense.
What Drove CRWG Performance Over the Last Quarter
The quarterly trend was shaped by a tug-of-war between explosive AI-infrastructure demand and concern over the cost of capturing it. CoreWeave's contracted power, backlog, and managed-inference business expanded rapidly, and the company raised prices across its lineup by about 25% in July. Yet its aggressive buildout, rising debt load, and interest expense pressured the stock through much of June and July.
The July drawdown reflected a broader de-risking in crowded AI trades, compounded by margin calls at leveraged funds holding AI-infrastructure positions. CoreWeave's August earnings marked a potential inflection toward profitability — consensus expectations point to the company's first positive earnings-per-share quarter — which helped fuel the subsequent recovery in CRWG.
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CRWG ETF Outlook: What Investors Should Watch Next
Several factors are likely to shape CRWG in the months ahead. CoreWeave's third-quarter results, expected around November, will test whether the company can reach its first positive earnings-per-share quarter and deliver on revenue guidance of $3.45 billion to $3.6 billion. Investors will also monitor the pace of capital spending, the interest burden from its debt load, and the conversion of contracted power into active capacity.
Broader themes matter as well: the durability of the AI capital-expenditure cycle, the rollout of Nvidia's Rubin platform, growth in managed inference, and the trajectory of interest rates and inflation all influence sentiment toward high-growth infrastructure names. Rising borrowing costs and geopolitical shocks remain key risks, while continued enterprise adoption of AI workloads represents a potential tailwind. The fund's daily leverage means even moderate moves in CoreWeave's stock can produce outsized swings in CRWG, so volatility should be expected.
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CRWG sees MACD Histogram just turned negative
CRWG saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on August 24, 2026. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 10 instances where the indicator turned negative. In of the 10 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
CRWG moved below its 50-day moving average on August 18, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CRWG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
CRWG broke above its upper Bollinger Band on August 12, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for CRWG entered a downward trend on August 07, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where CRWG's RSI Oscillator exited the oversold zone, of 4 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 15 cases where CRWG's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on September 04, 2026. You may want to consider a long position or call options on CRWG as a result. In of 16 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a +2 3-day Advance, the price is estimated to grow further. Considering data from situations where CRWG advanced for three days, in of 56 cases, the price rose further within the following month. The odds of a continued upward trend are .