REX Shares has announced the launch of the T-REX 2X Long SpaceX Daily Target ETF (SPAX), a leveraged exchange-traded fund designed to provide 2x daily long exposure to SpaceX stock.

According to Odaily, REX Shares said the product is a high-risk leveraged fund intended for investors with professional trading experience.

The company also warned that holding the ETF beyond a single day may result in significant deviations from the performance of the underlying asset.