SpaceX (SPCX) continued to rise after the IPO on Monday. The stock was hovering around $178, which indicates a two-day increase of about 32% from the price of $135 set last week.
This development led investors to keep their eyes on the new leveraged funds built around the new ticker.
SPCX started trading on June 12 at a price of $135 per share. The IPO raised about $75 billion, marking the largest public offering ever.
Goldman Sachs led the deal. They received orders for about $250 billion, with bids exceeding supply by roughly three and a half times before the price was set.
The listing broke previous records. Saudi Aramco's IPO in 2019 landed at 29.4 billion USD, but SpaceX was about two and a half times higher.
The stock jumped about 19% on Friday, closing at 160.95 USD. Then it shot up to around 192 USD on Monday.
SpaceX stock closed its second day of trading up 19.6% today, pushing the company's market cap above $2.5 trillion for the first time. SpaceX added $420 billion to its market cap today. pic.twitter.com/vLeEZMBzYV
— Sawyer Merritt (@SawyerMerritt) June 15, 2026
Thus, SpaceX was valued close to 2.3 trillion USD during the record Nasdaq listing. The company placed itself among the world's most valuable public firms. Elon Musk therefore retained his status as the first trillionaire on paper.
The size of the order book has many wondering if the buys on the second trading day indicate strong demand or if it's just the temporary hype that often follows oversubscribed IPOs.
ETF issuers are betting big
GraniteShares launched its 2x Long SpaceX Daily ETF (SPAL) and also a 2x Short version (SNK) on Monday. At the same time, Defiance released its 2x long instrument (SPCU) on the same day.
SPAL has an annual fee of 1.50% and resets its exposure daily. Therefore, the issuer claims it's better suited for short-term trading than for long-term investing.
And they're off.. 11 leveraged SpaceX ETFs hitting the market today. Here's how they stand in the first half hour regarding $ volume. $SPCH in the lead by a nose.. $SPCL is no longer halted in 2nd place despite $SPCU in the mix. All told $119m in 30min. Solid. Anything over $1m on Day One is… pic.twitter.com/N2BJhetuaF
— Eric Balchunas (@EricBalchunas) June 15, 2026
These funds join previous launches from ProShares, Direxion, and Leverage Shares. A total of about 25 SpaceX-related applications have been filed ahead of the IPO.
Defiance's previous fund SPCL reached about 10 million USD in volume on its first day and surged around 46% before SPCX started trading.
The launches follow the same strategy leveraged funds for individual stocks have used since U.S. regulators approved them in 2022.
Direxion's 2x Tesla fund (TSLL) and GraniteShares' 2x Nvidia fund (NVDL) grew to about 6.5 billion USD and 4.4 billion USD in assets. This shows how quickly retail investors are diving into high-risk products around a stock.
The same interest now meets debate over SpaceX's valuation, as the price is far ahead of the results expected in 2025.
Daily interest could cause these funds to bleed money even if SPCX rises over longer periods. The risk also increases as more shares hit the market in the coming weeks.
Not all funds targeting SpaceX are suited for day traders. ARK Invest announced that they now have SPCX in four active ETFs: ARKX, ARKQ, ARKK, and ARKW. They entered the company back in 2023 via their private ARK Venture Fund.
The company bought about 3.3 million shares worth around 444 million USD at debut. SpaceX represented 11.38% of the Venture Fund's total assets at the end of May, making it its largest holding.
SpaceX is now public. For ARK, this moment has been years in the making. We initiated our position in the ARK Venture Fund in 2023, long before the S-1 was filed, and have built conviction through every data point since. Our thesis has not changed: this is one of the most… pic.twitter.com/XZl4chYJQB
— ARK Funds (@ARK_Funds) June 15, 2026
The coming days will show if the demand that drove the IPO holds. It remains to be seen if the leverage in SPCX amplifies the first real downturn.