Leverage Shares to List 'SpaceX 3x Leverage' ETP on London Stock Exchange on the 12th

Trading Begins on the London Stock Exchange
Ticker Symbols: 'ELON' and 'MUSK'

Leverage Shares announced on the 11th that it will list its SpaceX 3x Exchange Traded Product (ETP) on the London Stock Exchange (LSE) on the 12th.

According to Leverage Shares, this product is expected to become the fastest-listed SpaceX leveraged ETP in the world.

This product will be traded in two currency lines. The ticker for the U.S. dollar (USD) denominated product is 'ELON', while the ticker for the British pound (GBP) denominated product is 'MUSK'.

However, on the first day of listing, exposure to the SpaceX price will not yet be applied, so even if there is buying demand from investors, the ETP price will not fluctuate. On the 12th, it will be possible to buy and sell the ETP; however, any funds flowing in that day will be held in cash within the ETP. As a result, even if buy orders are placed on the day of listing, the funds will not be immediately converted into a SpaceX position, and no price premium will occur due to buying pressure, according to Leverage Shares.

The asset manager stated that it plans to establish the SpaceX position using the cash at the close of the U.S. market on the 12th. The SpaceX purchase price executed at that time will serve as the reference price for subsequent ETP performance calculation, and starting from Monday the 15th, the ETP’s performance will reflect SpaceX price fluctuations either upwards or downwards.

Regarding whether the same mechanism will apply to the SpaceX product scheduled to be listed in the U.S., Leverage Shares explained that the U.S. product should be regarded as separate from the ETP listed in London.

Leverage Shares plans to list the SpaceX 2x product 'SPCH' and the SpaceX short 2x product 'SPCC' on the New York Stock Exchange. The company explained that these products are separate from ELON and MUSK on the London Stock Exchange, and that the structure, trading conditions, and applicable regulations may differ.

This content was produced with the assistance of AI translation services.