Bloomberg ETF analyst Eric Balchunas said the product will trade as ELON in U.S. dollars and MUSK in pounds, with full 3x exposure expected from next Monday; Leverage Shares is also launching 3x SK Hynix and DRAM products.
Leverage Shares is set to list a 3x long SpaceX exchange-traded product in Europe on Friday, according to Bloomberg senior ETF analyst Eric Balchunas. The product will trade under ELON for the U.S. dollar share class and MUSK for the British pound share class. Balchunas said the ETP will mainly hold cash on its first trading day because of time-zone factors, with full 3x leveraged exposure expected to begin next Monday. He also said Leverage Shares is launching 3x leveraged SK Hynix and DRAM products, adding to its lineup of high-risk trading instruments designed to magnify short-term moves and losses.