Strategy and Robinhood now lead a $4.5 billion large-cap ETF that was not built for crypto

A $4.5 billion US large-cap stock fund now has two crypto-sensitive companies at the top of its portfolio.The Fundstrat Granny Shots US Large Cap ETF's Sept. 4 holdings snapshot ranked Bitcoin-treasury company Strategy (MSTR) first at 3.02% and retail financial platform Robinhood Markets (HOOD) second at 2.99%. Together they represented 6.01% of the portfolio. The fund, known by its ticker GRNY, reported $4.533 billion in assets and 42 holdings as of Sept. 3.GRNY owns equities, not Bitcoin, and describes itself as an actively managed US large-cap fund. Yet its two largest holdings connect shareholders to crypto through public companies: Strategy through its Bitcoin treasury and Robinhood through a trading business that includes crypto.The snapshot demonstrates one route by which crypto-linked volatility can reach investors in a generalist stock portfolio. One fund cannot establish that mainstream managers broadly are replacing direct crypto allocations with proxy stocks.The ranking followed an equal-weight reset and an MSTR rallyGRNY's Aug. 21 rebalance notice said all holdings would be reset to equal weight. Strategy and Robinhood were already in the portfolio and remained there; ...