ProShares to Launch 2x Ultra SpaceX ETF (SPCF) on June 12

ProShares said it plans to launch the Ultra SpaceX ETF (SPCF) on June 12, targeting 2x the daily returns of SpaceX. According to BeInCrypto, CEO Michael Sapir said the fund lets traders magnify a bullish view on SpaceX without borrowing on margin on IPO day, and it will join ProShares’ lineup of leveraged single-stock ETFs. Separately, Reuters reported SpaceX’s IPO has drawn more than $250 billion in orders versus a $75 billion target, implying roughly 3.5 to 4 times oversubscription; books close Wednesday, pricing is set for June 11, and shares are expected to start trading on Nasdaq on June 12.