First U.S. ETF to Offer Double Exposure
Launching today, the Defiance Daily 2X Space ETF (Cboe: SPCL) marks the first U.S. ETF offering 2X exposure to SpaceX Class A common stock. This event coincides with SpaceX’s debut on the Nasdaq.
Priced at $135 per share, SpaceX’s initial public offering values the company at about $1.77 trillion. This valuation makes it the largest U.S. IPO by debut market value. With SPCL’s SpaceX exposure set at the IPO price, active traders can engage with 2X leveraged exposure from the market open.
Details regarding the fund’s prospects, holdings, and recent performance are available at defianceetfs.com/spcl or by calling 833.333.9383.
Risks and Considerations
Investors face significant risks, including those related to leverage, compounding, and the newly public nature of the company. The fund is designed for short-term use, making it unsuitable for individuals who do not actively monitor their investments.
As a result of being deemed a ‘Material Space Event’ by the fund, SpaceX’s IPO leads to a concentrated portfolio, which may increase volatility. Derivatives are used by the ETF to achieve its exposure, introducing additional risks. There is a possibility that investors could lose their entire principal value within a single day.
Defiance ETFs LLC sponsors the fund, while Tidal Investments LLC serves as the investment adviser. They encourage potential investors to carefully evaluate the fund’s objectives and risks before making an investment.
The fund’s performance results from compounded daily returns over time, potentially differing from 200% of the Target Portfolio’s return over the same period.
SPCL does not represent a direct investment in the underlying securities. It is not suitable for all investors and is designed for those with a deep understanding of the consequences of seeking daily leveraged (2X) investment results.
For more information, the fund’s prospectus is accessible at defianceetfs.com/spcl or via phone at 833.333.9383.
Last updated: 13 June 2026, 3:15 pm
