Crypto-sensitive companies now dominate a $4.5B large-cap ETF

A US large-cap stock fund has seen its top two holdings shift to crypto-sensitive companies after an equal-weight reset. The Fundstrat Granny Shots US Large Cap ETF, with $4.533 billion in assets as of Sept. 3, now holds Strategy (MSTR) at 3.02% and Robinhood Markets (HOOD) at 2.99%, representing 6.01% of the portfolio.

The fund's rebalance notice on Aug. 21 stated that all holdings would be reset to equal weight, which added six new companies including Freeport-McMoRan and Intel, while removing seven others.

MSTR rose from $119.25 on Aug. 21 to $144.82 on Sept. 3, a gain of about 21.4%, likely contributing to its rise above the equal-weight baseline and into first place.