Why GraniteShares 2x Long CRWD Daily ETF (CRWL) Is Up +59% in the Last 30 Days
Key Takeaways
- CRWL advanced roughly 59% over the trailing 30 days, climbing from near $59 to about $94 per share on a wave of cybersecurity strength.
- The fund is a leveraged single-stock ETF (exchange-traded fund) that seeks 2x (200%) the daily return of CrowdStrike Holdings (CRWD), a cloud-native cybersecurity platform provider.
- CrowdStrike's fiscal second-quarter earnings beat, record net new annual recurring revenue (ARR), and raised guidance triggered a roughly 20% single-day surge in the underlying stock.
- Renewed artificial-intelligence safety concerns in mid-September rotated capital out of semiconductor and AI-infrastructure names and into cybersecurity software.
- Because the fund resets its leverage daily, longer-horizon returns can diverge from 2x the underlying stock's cumulative move.
GraniteShares 2x Long CRWD Daily ETF (CRWL) Overview and Portfolio Exposure
The GraniteShares 2x Long CRWD Daily ETF seeks daily investment results, before fees and expenses, corresponding to 2x (200%) the daily percentage change in the common stock of CrowdStrike Holdings (CRWD). It is an actively managed, non-diversified single-stock fund that launched on November 11, 2024.
Rather than holding CrowdStrike shares outright, CRWL obtains its exposure through total-return swaps referencing CRWD, collateralized by cash and short-term U.S. Treasury securities. The fund reports only a handful of portfolio positions and rebalances daily. Its net expense ratio is 1.50% (gross expense ratio 2.30%), with a management fee of 1.30%, and assets under management (AUM) of roughly $75 million.
This structure means CRWL's performance is effectively an amplified, daily-reset version of CrowdStrike's price action. When the underlying stock makes a sharp directional move, the fund tends to magnify it; when the stock is range-bound, daily rebalancing can create compounding drift relative to a simple 2x multiple.
GraniteShares 2x Long CRWD Daily ETF (CRWL) Price Performance: Last 30 Days vs. Quarter
Over the last 30 days, CRWL rose approximately 59%, from a closing level near $59 to roughly $94 per share. The advance was trend-driven overall but punctuated by outsized single-day swings, including a gain of about 40% on the day of CrowdStrike's earnings reaction and roughly 28% on a mid-September sector-rotation session.
Over the last quarter, the fund advanced roughly 86%, climbing from around $51 to its recent level. The three-month move was similarly characterized by elevated volatility, with sharp pullbacks followed by strong recoveries rather than a smooth, uninterrupted uptrend.
What Drove CRWL Price in the Last 30 Days
The dominant catalyst was CrowdStrike's fiscal 2027 second-quarter report, released after the market close on August 26. Revenue rose 26% year over year to $1.47 billion, while adjusted earnings per share (EPS) increased 35% to $0.31, both ahead of consensus estimates. Net new ARR reached a record $332.8 million, up 51% year over year, and total ARR climbed 25% to $5.84 billion. The company's Falcon Flex subscription model saw its ARR more than double to roughly $2.3 billion, and management raised its full-year revenue and EPS guidance. The underlying stock surged roughly 20% the following session—its best day on record—which translated into a single-day gain of about 40% for CRWL.
A second catalyst arrived in mid-September, when public calls from major AI executives to slow frontier model development reignited AI-safety concerns. Capital rotated out of chipmakers and AI-infrastructure names and into security software. CrowdStrike climbed roughly 14% in a single session, and CRWL followed with a gain near 28%. Company-specific news also supported sentiment, including a September partnership with Nvidia (NVDA) to launch an AI defense system and product introductions at the company's Fal.Con conference. The move was part of a broad cybersecurity rally that lifted peers such as Palo Alto Networks (PANW), Okta (OKTA), and Zscaler (ZS).
What Drove CRWL Performance Over the Last Quarter
The broader three-month trend reflects a structural repricing of the cybersecurity industry around AI-driven demand. The emergence of increasingly capable AI models that can identify and exploit software vulnerabilities has made advanced security tooling a board-level spending priority. CrowdStrike's management has described this as a "Mythos moment"—a reference to Anthropic's model that reshaped enterprise security demand—positioning AI security as a durable market opportunity.
This environment supported sustained sector rotation into cybersecurity and security-software names, with CrowdStrike advancing sharply on the year and institutional flows into cybersecurity ETFs strengthening. CrowdStrike's accelerating ARR growth, rising free cash flow, and expanding platform adoption through Falcon Flex provided the fundamental underpinning, while elevated volatility in the underlying stock amplified CRWL's quarterly gain.
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CRWL ETF Outlook: What Investors Should Watch Next
Going forward, the most important factor is whether CrowdStrike's accelerating net new ARR can be sustained. The company's next quarterly report will be a key test of whether the AI-security narrative is converting into signed contracts rather than valuation expansion. Investors will also watch the pace of adoption of Falcon Flex and the company's AI-native product lines.
At the sector level, the trajectory of AI-related regulation and safety initiatives may continue to drive capital flows between hardware and software, with cybersecurity positioned as a structural beneficiary. Broader macroeconomic conditions—interest rate expectations, inflation trends, and enterprise IT spending—will also influence the valuation multiples applied to high-growth security names. Finally, holders of CRWL should recognize the fund's inherent risks: its 2x daily leverage and daily reset make it sensitive to path-dependent compounding, and prolonged sideways or choppy trading in the underlying stock can produce returns materially different from 2x CrowdStrike's cumulative performance.
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
CRWL's RSI Indicator leaves overbought zone
The 10-day RSI Oscillator for CRWL moved out of overbought territory on October 07, 2026. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 13 instances where the indicator moved out of the overbought zone. In 12 of the 13 cases the stock moved lower in the days that followed. This puts the odds of a move down at 90%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 13, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on CRWL as a result. In 29 of 32 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 90%.
The Moving Average Convergence Divergence Histogram (MACD) for CRWL turned negative on October 12, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 22 similar instances when the indicator turned negative. In 22 of the 22 cases the stock turned lower in the days that followed. This puts the odds of success at 90%.
CRWL moved below its 50-day moving average on October 16, 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 CRWL declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 90%.
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 7 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +6.93% 3-day Advance, the price is estimated to grow further. Considering data from situations where CRWL advanced for three days, in 119 of 126 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
CRWL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In 87 of 94 cases where CRWL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 90%.
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