BlockBeats News, June 10th, ProShares, the world's largest leveraged and inverse ETF issuer, announced that it plans to simultaneously launch the SpaceX Double Long ETF, ticker symbol SPCF, on SpaceX's listing day (June 12th).
Simultaneously launching a 2x long ETF on the listing day is not common, but it has become increasingly popular in recent years, especially with high-profile IPOs, particularly in the tech and growth stock sectors. High-profile IPOs experience significant volatility, leading to a growing demand for leveraged ETFs from retail investors and short-term traders.
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