SEC delays launch of leveraged ETFs tied to SpaceX IPO
The SEC just hit pause on the launch of leveraged ETFs tied to SpaceX's much-anticipated IPO, bumping the debut from Friday to Monday.
The move is meant to keep things smooth when SpaceX hits the market, with big players like Direxion, ProShares, and Tradr ETFs all set to roll out 2x leveraged funds.
Asset managers recalibrate after ETF delay
This delay has asset managers recalibrating, since many were eyeing major inflows from day one.
Tradr ETFs says its 2x long and short funds will now drop Monday on Cboe Global Markets.
There's serious global hype too: Leverage Shares launched a 3x leveraged long product tied to SpaceX for listing on the London Stock Exchange.
As Todd Sohn, an ETF analyst at Strategas, put it, "There are billions at stake in the first few weeks alone," with investors everywhere wanting a piece of the SpaceX action.