REX Shares announced the launch of the T-REX 2X Long SpaceX Daily Target ETF, which trades under the ticker SPAX. The exchange-traded fund is designed to provide 2x daily long leveraged exposure to SpaceX stock, meaning its stated objective is tied to delivering amplified long exposure over a single trading day.
SPAX is described as a high-risk leveraged product
In its announcement, REX Shares warned that SPAX is a high-risk leveraged fund and is intended for investors with professional trading experience. The company emphasized that investors should understand how leveraged products work and the specific risks attached to daily target exposure before using the fund.
REX Shares also noted that holding the ETF beyond a single day carries the risk of performance deviating significantly from the performance of the underlying asset. The announcement was reported by Businesswire.