GraniteShares lists two 3x leveraged ETPs – Long and Short – on SpaceX on the LSE

GraniteShares has today listed two new leveraged instruments on SpaceX, the aerospace company founded by Elon Musk, which was listed on the NASDAQ on 12 June.

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Article created by the editorial staff of ETFWorld.co.uk

Will Rhind Founder & CEO GraniteShares

The 3x Short version is the first ETP in Europe to allow investors to take a leveraged short position on the shares of Elon Musk’s aerospace company, which listed on NASDAQ on 12 June.

The products are the GraniteShares 3X Long SpaceX Daily ETP (Ticker: SPX3; ISIN: XS3415294688) and the GraniteShares 3X Short SpaceX Daily ETP (Ticker: SNK3; ISIN: XS3415294928).

The two ETPs offer exposure equal to three times the daily performance of the SpaceX share, in long and short directions respectively. They are denominated in US dollars and traded in euros, and allow traders and investors to take leveraged bullish or bearish positions on the daily performance of the share, reflecting short-term tactical views. The 3x Short version is the first ETP listed in Europe that allows investors to take a leveraged short position on SpaceX.

An extension of the range launched in the United States

The UK listing follows just a few days after the debut, on 15 June, of two 2x leveraged ETFs from GraniteShares on the Chicago Board Options Exchange (Cboe): the GraniteShares 2x Long SpaceX Daily ETF (SPAL) and the GraniteShares 2x Short SpaceX Daily ETF (SNK). The two US funds had raised approximately $70 million in assets under management as at 17 June 2026, a figure that signals market interest in leveraged instruments on the stock during its first trading sessions.

GraniteShares is one of the world’s leading issuers of leveraged ETFs tracking individual shares, a segment in which it is a market leader. In Europe, the company offers a well-established range of 3x leveraged ETPs, both long and short, tracking heavily traded US and Italian shares.

How daily leveraged ETPs work

The two instruments are collateralised ETPs that track, net of fees and other adjustments, a 3x leveraged Solactive index based on SpaceX shares. The tracking is synthetic, via swaps, with collateral held and valued daily by an independent custodian in a segregated account.

The leverage is daily and is reset to zero at the close of each trading session. Over a single day, if the SpaceX share price rises by 1%, the GraniteShares 3X Long SpaceX Daily ETP rises by approximately 3% (before costs), whilst if it falls by 1%, the ETP loses approximately 3%; the 3x Short version moves in the opposite direction. Due to the daily reset mechanism and the effect of compound capitalisation, over time horizons longer than a single day, the cumulative return may deviate – even significantly – from three times the cumulative performance of the share. This deviation tends to widen during periods of market volatility. These instruments are therefore designed for tactical, short-term use and should be actively monitored.

SpaceX, from 2002 to its listing

SpaceX (Space Exploration Technologies Corp.) is an aerospace company founded in 2002 by Elon Musk with the mission of reducing the cost of space travel and expanding access to space. The company develops reusable rockets, spacecraft and satellite technologies, including Falcon, Dragon, Starship and Starlink, whilst pursuing the long-term goal of enabling human life beyond Earth.

The share has been listed on the NASDAQ under the ticker SPCX since 12 June 2026. The offering, with an issue price of $135 per share and a valuation of around $1.77 trillion, was the largest IPO ever conducted on the stock markets. The share closed its first trading session up by around 19 per cent and, in the weeks that followed, exhibited high volatility, reaching a high of over $225 before retracing: on 24 June, it was trading at around $154. This price profile forms part of the context in which the new leveraged instruments are being launched.

The issuer

GraniteShares is an independent US issuer specialising in leveraged ETFs and ETPs on individual securities, as well as in commodities and income-generating products. According to the company’s figures, as at 13 June 2026 it managed approximately $13.67 billion in assets. The company is led by its founder and CEO, Will Rhind.

Risk warnings

Leveraged and inverse ETPs are complex instruments, intended for short-term trading and active monitoring, and are not suitable for all investors. Due to daily resets and compound capitalisation, performance over time horizons longer than a single day may differ significantly from the stated daily target. Investors may lose their entire invested capital.

Product overview

Source: ETFWorld.co.uk