SK Hynix’s American Depositary Receipts began trading on Nasdaq on July 10 in what Themes ETFs described as the largest-ever U.S. listing by a foreign company, and Leverage Shares by Themes said it will launch two single-stock ETFs tied to the ADR on Cboe on July 14. The products are the Leverage Shares 2x Long SK Hynix Daily ETF, ticker SKHX, and the Leverage Shares 1x Short SK Hynix Daily ETF, ticker SKHZ. The new funds differ from an earlier GraniteShares filing tied to the same listing. Themes’ long fund seeks daily investment results, before fees and expenses, corresponding to 200% of the daily performance of the SK Hynix ADR, while its short fund targets -100% of that daily move rather than a -2x inverse structure. Themes said SKHZ is expected to be the only 1x, non-leveraged short product among the SK Hynix ETFs coming to market, positioning it as a bearish or hedging tool without the amplified decay associated with a -2x fund. Themes said both funds are actively managed, use swaps, options and other derivatives, and carry a 0.75% management fee. The firm also said options on SKHX and SKHZ are expected to begin trading within days of launch. As with other daily leveraged and inverse products, the ETFs reset each day and are designed as short-term trading vehicles, meaning returns over longer holding periods can diverge materially from the stated daily targets because of compounding and volatility.