GraniteShares files American Stakes, Ex-China Critical Minerals and Global Shipbuilding ETFs
The minerals and shipbuilding funds would exclude Chinese companies, and tickers and fees are still blank.
Key takeaways
GraniteShares ETF Trust filed three preliminary prospectuses on Oct. 13, 2026, for the GraniteShares American Stakes ETF, the GraniteShares Ex-China Critical Minerals ETF and the GraniteShares Global Shipbuilding ETF. The filings do not change any GraniteShares fund already trading.
Two of the three write Chinese companies out of the portfolio. The third would buy companies in which a U.S. government entity holds, or has publicly agreed to acquire, an equity interest.
In a Feb. 12, 2026, analysis, the Center for Strategic and International Studies wrote that these equity positions "aim to support key U.S. firms and thus reduce U.S. dependence on China, help reshore critical manufacturing and provide reputational and financial support for innovative domestic firms."
The documents are post-effective amendments to the trust's existing registration, each marked subject to completion. They add new series, and the EDGAR records list each series as new. Each asks to become effective 75 days after filing under Rule 485(a)(2), a date that falls on Dec. 27, 2026. The final prospectus date is blank. So are the tickers, the management fees, other expenses and total annual operating expenses.
The proposals sit apart from what GraniteShares has been launching. Its launches this year have included daily-reset leveraged funds, option-income funds, an autocallable income fund and a short-term box-spread fund.
What each prospectus requires
All three would be actively managed by GraniteShares Advisors LLC. Under normal circumstances each would put at least 80% of its net assets, including money borrowed to invest, into the equities its mandate names or into instruments that provide that exposure.
The American Stakes and Ex-China Critical Minerals funds would rebalance at least quarterly. At a rebalance, no single company could exceed 25%.
The GraniteShares American Stakes ETF would buy companies in which a U.S. government entity holds, or has publicly agreed to acquire, an equity or equity-linked interest. The prospectus counts common and preferred stock, warrants, options and a special governance right it calls a golden share. The prospectus says many of those stakes are in private companies, and that the fund would not buy them unless and until the shares trade publicly.
The prospectus says the fund will concentrate more than 25% of total assets in information technology. The market-capitalization and trading-volume tests a company must clear are still written as "$[ ] million."
"A Government Equity Stake does not mean that a company's securities are guaranteed or backed by the U.S. government," the prospectus says, and no government entity has to supply more capital or support.
The GraniteShares Ex-China Critical Minerals ETF seeks capital appreciation in companies that derive at least 50% of revenue or profit, or commit at least 50% of assets, to specified work in materials on the latest U.S. Geological Survey critical-minerals list or the U.S. Department of Energy critical-materials list.
It would not own what it defines as a Chinese company. The definition is not limited to incorporation or headquarters in the People's Republic of China (PRC), including Hong Kong and Macau. It also covers a primary listing there, more than 50% of revenue or assets exposed to the PRC, and control by PRC persons.
The prospectus says the fund will concentrate more than 25% of total assets in materials, and it says the fund is not an index tracker.
The GraniteShares Global Shipbuilding ETF seeks capital appreciation. A company qualifies if at least 50% of revenue or profit comes from commercial, naval or offshore vessel construction, repairs, propulsion, components or marine-engineering services.
The fund must hold companies tied to at least three countries. As of each rebalance, it would limit any one country to 40% of net assets, and it seeks at least 10% in each of at least three countries.
A separate rule requires at least 40% of net assets in companies tied to countries other than the United States. The adviser may cut that floor to 30% when it deems market conditions unfavorable. The adviser currently expects the main country exposures to include South Korea, Japan, Italy and the United States.
Shipbuilders organized, headquartered or primarily listed in the PRC, including Hong Kong and Macau, are excluded.
A minerals fund is already listed
A reader who wants critical minerals without China already has a narrower choice. Sprott Rare Earths Ex-China ETF REXC tracks the Nasdaq Sprott Rare Earths Ex-China Index, charges 0.65%, and held $69.2 million as of Oct. 15. It listed on April 14, 2026.
Sprott Critical Materials ETF SETM held $461.6 million on the same date, at the same 0.65% fee, in a broader set of energy-transition materials companies.
Until GraniteShares fills in a fee, there is nothing to compare on cost. Until the registration is effective, there is nothing to buy.
ETFs in this story
Frequently asked questions
When could these GraniteShares ETFs become effective?
Each filing asks to become effective 75 days after Oct. 13, 2026, a date that falls on Dec. 27, 2026.
Will the new funds hold Chinese companies?
The minerals and shipbuilding funds would exclude Chinese companies, while American Stakes would buy U.S. government equity stakes instead.
Does a government stake guarantee the American Stakes holdings?
The prospectus says a government equity stake does not mean the securities are guaranteed or backed by the U.S. government.
Can investors buy these funds now, and what do they cost?
Until the registration is effective there is nothing to buy, and the fees are still blank, so there is nothing to compare on cost.
