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ProShares Launches 2X Leveraged SpaceX ETF as IPO Demand Hits $250B, Nearly 4X Oversubscribed

GateNews
Stocks
According to Bloomberg, ProShares unveiled the Ultra SpaceX ETF (SPCF) on Tuesday, targeting 2x daily returns of SpaceX shares ahead of the company's Friday IPO debut. The launch joins four other proposed leveraged SpaceX funds—Direxion's LOFF, Leverage Shares' SPCH, Defiance's SPCU and GraniteShares' SPAL—as asset managers race to capture investor demand. Meanwhile, BlackRock launched the iShares Space Technologies UCITS ETF (STAR) for European investors, which can rapidly add SpaceX to its 56-stock portfolio. SpaceX's IPO plans to raise $75 billion at $135 per share, with investor orders reportedly topping $250 billion—nearly 4x oversubscribed. With only about 7% of SpaceX shares expected to be freely tradable initially, investors have poured billions into space-themed ETFs. Related space stocks ASTS and LUNR each gained 1% in overnight trading, while RKLB slipped 1% and RDW fell 2%.
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