Leverage Shares by Themes has launched two leveraged exchange-traded funds tracking SpaceX common stock, mere days after the company's historic public listing. The 2x Long SpaceX Daily ETF (Ticker: SPCH) and the 2x Short SpaceX Daily ETF (Ticker: SSPC) began trading on the Cboe exchange on June 15, 2026.
The products aim to deliver double the daily return, or double the inverse daily return, of SpaceX shares using derivatives. Both ETFs carry a 0.75% expense ratio, significantly lower than the category average.
These funds arrive as SpaceX completed what is arguably the largest initial public offering in history, seeking to raise $75 billion. Investor demand overwhelmed supply, with indications of interest reportedly exceeding $250 billion.
The structure of these daily reset ETFs introduces significant volatility decay for holding periods longer than a single trading session. While the low fee lowers a barrier to entry, traders face high execution risk; even accurate directional predictions can result in losses due to compounding effects in choppy markets. The short ETF, SSPC, poses an especially aggressive direct bet against a stock with extreme post-IPO momentum and demand.
Investors are advised to monitor trading volume and bid-ask spreads closely, as liquidity will be critical in managing slippage for these newly launched, competing products.