Defiance ETFs has launched the PLTZ ETF, the first leveraged inverse fund to focus on Palantir Technologies Inc. ( PLTR ) , providing short sellers with a new means to double down, literally, on short-term dips in the contentious software company.

The Defiance Daily Target 2X Short PLTR ETF aims for daily returns that are -200% the price movement of Palantir’s stock. The introduction adds fuel to the increasing single-stock ETF craze, but with a twist: rather than following trends, PLTZ is about shorting them.

Also Read: Seeking Income And Stability? NEOS’s Gold High Income ETF May Be Your Answer

This is at a particularly charged moment for Palantir ( PLTR ). The New York Times reported last week that the company was commissioned by the Trump administration to gather information on Americans in the wake of a March executive order encouraging inter-agency data sharing.

Despite Palantir ( PLTR ) CEO Alex Karp labeling the report “ridiculous” and technically unsound on CNBC, the political firestorm surrounding the company has reignited again, possibly making PLTZ more attractive to short-term traders sensing smoke.

Karp wasn’t shy, telling CNBC’s Squawk on the Street that if someone “wanted to use the Deep State to unlawfully surveil people, the last platform in the world you would pick is Palantir,” and asserted even a low-level engineer could discredit the NYT article in less than two minutes.

Meanwhile, Palantir ( PLTR ) has inked fresh deals with the Department of Homeland Security and the Pentagon, and is reportedly in talks with other powerful U.S. agencies including the IRS and the Social Security Administration. Whether that's a testament to the company's dominance, or a red flag for data centralization, may depend on which side of the Palantir ( PLTR ) trade you're on.

For tactical traders who are active, PLTZ provides an option to be bearish on Palantir ( PLTR ) stock without tampering with margin calls or struggling with exotic options. But as with any levered ETF, particularly a short one, timing is everything, and risk appetite must be greater than Karp’s blood pressure after the interview.

Read Next:

KOID ETF: Your Gateway To The $5 Trillion Humanoid Robotics Market