SK Hynix raised $26.5 billion in its Nasdaq ADR listing, sparking a wave of leveraged ETFs from ProShares, Direxion, and Leverage Shares on Wall Street.

The largest ever listing by a foreign firm

SK Hynix plans a $28 billion Nasdaq ADR listing, already 7x oversubscribed, as the AI memory chip leader targets US investors with ticker SKHY on July 10.