SpaceX didn’t just go public. It detonated a trading frenzy that’s already rewriting ETF record books.
Just days after the company’s June 12 IPO on Nasdaq under the ticker SPCX, a wave of leveraged exchange-traded funds launched to give traders amplified exposure to Elon Musk’s aerospace juggernaut. By June 16, the entire suite of SpaceX-linked ETFs had racked up over $3 billion in combined trading volume. The standout: the Leverage Shares 2X Long SpaceX Daily ETF ($SPCH), which alone accounted for $1.3 billion in trades, setting a new benchmark for second-day ETF volume.
The IPO that launched a thousand trades
SpaceX priced its shares at $135 each, raising approximately $75 billion in what ranks among the largest initial public offerings in history. The listing happened on Nasdaq under the SPCX ticker.
By June 15, just three days after the IPO, Leverage Shares had already rolled out a pair of leveraged products: the $SPCH (2x Long) and the $SSPC (2x Short). A 2x leveraged long ETF aims to deliver double the daily return of the underlying stock. If SpaceX shares climb 3% in a day, $SPCH targets a 6% gain. The flip side, of course, is that losses get doubled too.
