Defiance ETFs launched the Defiance Daily Target 2X Long SpaceX ETF (Cboe: SPCU), providing active traders with 200% daily leveraged exposure to SpaceX Class A common stock. SPCU began trading on June 15, 2026, at 4am ET, utilizing swap agreements and listed options contracts to achieve its objective without requiring a margin account. This launch follows SpaceX's initial public offering on June 12, where shares priced at $135, valuing the company at approximately $1.77 trillion in the largest U.S. IPO by debut market value.

SPCU joins the existing Defiance Daily 2X Space ETF (Cboe: SPCL), which established 2X daily leveraged exposure to SpaceX on the IPO date. While SPCL holds other investments in line with its strategy, SPCU is purpose-built for traders seeking high-conviction, tactical views on SpaceX through a single ticker. Both funds are non-diversified and carry significant risks, including the potential for losses exceeding the principal investment over periods longer than a single day.

Key Details of SPCU and SpaceX IPO

Risks and Considerations

The funds are designed strictly for short-term use and are not suitable for all investors. Due to daily reset and compounding risks, performance over periods longer than a day will likely differ from the stated 2X target. Investors face the risk of losing their entire principal within a single trading day if the underlying asset's value decreases significantly. The funds magnify both gains and losses and require active monitoring.

Defiance ETFs LLC is the ETF sponsor, and Tidal Investments LLC serves as the investment adviser. The funds are distributed by Foreside Fund Services, LLC. Full fund details are available at defianceetfs.com.

A debate over wealth creation, government-backed job growth and economic inequality has erupted following Elon Musk’s rise to trillionaire status, which renewed scrutiny of how prosperity should be measured in America. Rep. Ro Khanna (D-Calif.) initiated the discussion by contrasting the celebration surrounding Musk’s wealth with what he described as a lack of recognition for policies that created jobs for millions of Americans.

In a post on X, Khanna noted that Wall Street was applauding Musk for helping create thousands of millionaires through SpaceX (NASDAQ: SPCX), but asked whether similar praise had been directed toward former President Joe Biden’s Inflation Reduction Act, American Rescue Plan and CHIPS Act. "Our barometer should be opportunity & stability for the majority, not simply wealth for the few," Khanna wrote.

The comments came days after Musk became the world’s first trillionaire following SpaceX’s public debut. According to previous estimates cited by a report in The New York Times, more than 4,400 current and former SpaceX employees were expected to become millionaires as a result of the offering, with hundreds projected to hold stakes worth at least $100 million.

Khanna’s remarks drew a response from entrepreneur and investor David Friedberg, who argued that jobs derive their value from market demand rather than government intervention. "They're not jobs if they're not valued," Friedberg wrote, contending that employment sustained primarily by government action can create dependency and reduce economic mobility. He further argued that government-directed job creation risks leading to a less dynamic economy.

Musk’s rise as the world’s first trillionaire sparked sharply divided reactions from politicians and investors, reigniting debate over wealth concentration and taxation. Gov. Gavin Newsom (D-Calif.) said Musk’s growing fortune highlights a system many Americans view as unfair, while Sen. Bernie Sanders (I-Vt.), Rep. Alexandria Ocasio-Cortez (D-N.Y.), Sen. Elizabeth Warren (D-Mass.) and New York City Mayor Zohran Mamdani renewed calls for higher taxes on the ultra-wealthy.

Hedge fund manager Bill Ackman pushed back, arguing that Musk’s wealth is tied largely to ownership stakes in companies such as Tesla Inc. (NASDAQ: TSLA) and SpaceX rather than cash holdings. Ackman said those businesses have driven innovation, reinvested capital and created substantial wealth for employees.

SpaceX Stock Performance

SpaceX stock showed significant movement following the public debut.