ProShares to Launch 2x Long SpaceX ETF, Listing on IPO First Day

Odaily Planet Daily News ProShares, the world's largest issuer of leveraged and inverse ETFs, announced it will launch a 2x Long ETF on the first day of SpaceX's (SPCX) IPO on June 12, tracking 2x the daily return (before fees) of ProShares. While directly listing a single-stock leveraged ETF on the day of an IPO is not common, it has become increasingly popular in recent years for high-profile tech and growth stock IPOs, reflecting the significantly heating demand for leverage from retail and short-term traders on highly volatile new stocks.