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SpaceX Leveraged ETF Trading Volume Surpasses $1 Billion on the First Day; LeverageShares Leads in Single-Day Fund Turnover
On June 16, Eric Balchunas shared data on the social platform X. Several 2x leveraged SpaceX (SPCX)-related ETFs saw their combined first-day trading volume exceed $1.041 billion, with first-day performance setting an outstanding record among similar leveraged products.
Judging from the product trade data, multiple LeverageShares products took the top two spots by trading volume. The 2x long product SPCH US traded $281.8 million, and the 2x short product SSPC US traded $219.3 million; together, they accounted for nearly half of the market’s total trading volume.
SPCH US also set the highest first-day trading volume for an ETF product since the launch of the Bitcoin spot ETF IBIT. Its size even surpassed the first-day debut performance of previous leveraged products related to ETH and DRAM.
Other issuers included Granite, ProShares, Defiance, Direxion, T-Rex, and several other institutions, which also launched 2x long-and-short SPCX leveraged ETFs at the same time.
The single-product trading volume for these products ranged from $26 million to $103.7 million, indicating strong market demand for SpaceX-related leveraged products.
Under standard industry practice, if a new ETF reaches $10 million in first-day trading, it is generally considered a sign of a strong market response. This time, the trading volumes of several products were well above this threshold, reflecting investors’ high level of attention to the SpaceX concept.
Eric Balchunas noted that although multiple institutions rolled out similar leveraged products together this time and first-day trading heat far exceeded expectations, long-term industry differentiation is inevitable, and capital will continue concentrating toward the leaders.
Looking ahead, capital will most likely keep flowing toward leading assets. Ultimately, only a small number of products can continue to attract substantial inflows, while most mid-tier products will see reduced traffic, and tail assets will be gradually marginalized by the market.
#SpaceXLeveragedETF