Active traders now have a new way to bet on Elon Musk’s two flagship companies.
Leverage Shares By Themes launched the Leverage Shares 100% TSLA and 100% SpaceX Daily ETF (NASDAQ:ELOL), which combines daily exposure to both Tesla, Inc (NASDAQ:TSLA) and Space Exploration Technologies Corp (NASDAQ:SPCX) in a single ETF.
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The fund, launched on Friday, charges a 0.99% management fee and is designed for traders seeking tactical exposure to themes including electric vehicles, autonomous driving, artificial intelligence, satellite communications and space exploration, without having to choose between Tesla and SpaceX.
QUICK CONTEXT: SpaceX Expands ETF Footprint
SpaceX has rapidly become one of the most sought-after companies in the ETF universe, particularly after its inclusion in the Nasdaq-100 earlier this year. That move prompted a wave of ETF launches and product innovation as issuers looked for new ways to package exposure to Musk’s businesses.
ELOL takes a different approach by pairing SpaceX with Tesla, giving investors simultaneous exposure to two of Musk’s pubic companies. The launch reflects a broader trend in the ETF industry toward increasingly thematic, concentrated and event-driven products aimed at active traders willing to express high-conviction views through single-ticker strategies.
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