An exchange-traded product (ETP) providing triple leveraged exposure to quantum computing company IonQ closed days before a potential 100% windfall for investors.

On 8 January, the IonQ share price fell 21.8% from its previous close following comments from Nvidia CEO that practical quantum computing could be 20 years away.

According to a shareholder notice, this triggered a mandatory redemption at zero for investors in the Leverage Shares 3x Long IONQ ETP (IONQ) – effectively wiping them out – as the drop surpassed the 16.7% threshold set out in the index methodology for the Solactive 3x Long IONQ Index.

The ETP housed assets under management of $25m, according to the provider’s website, making it one of the firm’s largest products.

To add insult to injury, days after the blow up IonQ’s shares rallied 33.5% after Nvidia announced its first ever Quantum Day at GPU Tech Conference 2025, so 3x leveraged investors missed out on a potential 100% windfall.

Leverage Shares did not immediately respond for comment.