ProShares to Launch 2x Long SpaceX ETF, Listing Same Day as IPO

Odaily Odaily Planet Daily reports that ProShares, the world's largest issuer of leveraged and inverse ETFs, announced it will launch a 2x Long ETF on June 12, the first day of SpaceX's (SPCX) IPO, tracking two times (before fees) the daily returns of the stock. While launching a single-stock leveraged ETF directly on the IPO day is uncommon, this practice has become increasingly popular for high-profile tech and growth stock IPOs in recent years, reflecting a significant rise in demand for leveraged exposure to volatile new stocks among retail and short-term traders.