NEW YORK — June 12, 2026
Executive Summary
GraniteShares has launched GraniteShares 2x Long SpaceX Daily ETF (SPAL) and GraniteShares 2x Short SpaceX Daily ETF (SNK), introducing new exchange-traded funds designed to provide 2x leveraged and -2x inverse daily exposure to SpaceX as the company begins trading on public markets. The launch expands GraniteShares’ lineup of leveraged single-stock ETFs and provides active traders with new tools to express bullish or bearish short-term views on one of the world’s most closely watched companies across aerospace, satellite communications, commercial spaceflight, and space technology.
Announcement Overview
GraniteShares announced the launch of SPAL and SNK, two new leveraged single-stock ETFs linked to the daily performance of Space Exploration Technologies Corp. (Nasdaq: SPCX). The funds are designed to provide sophisticated investors and active traders with amplified daily exposure to SpaceX following its public market debut. According to GraniteShares, the launch broadens its leveraged ETF platform while expanding access to short-term trading strategies tied to a company with operations spanning launch services, Starlink satellite communications, government contracts, and the evolving space economy. The new ETFs are intended to offer efficient tools for expressing directional market views through both leveraged long and inverse exposure.
Key Announcement Details
- Announcement Type: ETF Launch
- Issuer: GraniteShares
- Announcement Date: June 12, 2026
- New ETFs Introduced: GraniteShares 2x Long SpaceX Daily ETF and GraniteShares 2x Short SpaceX Daily ETF
- Tickers: SPAL and SNK
- Underlying Company: Space Exploration Technologies Corp.
- Underlying Ticker: Nasdaq: SPCX
- Exposure Structure: Leveraged and inverse single-stock ETFs
- Long Fund: GraniteShares 2x Long SpaceX Daily ETF (SPAL)
- Long Fund Objective: Seeks daily investment results, before fees and expenses, equal to 200% (2x) of the daily percentage change in SpaceX common stock
- Short Fund: GraniteShares 2x Short SpaceX Daily ETF (SNK)
- Short Fund Objective: Seeks daily investment results, before fees and expenses, equal to -200% (-2x) of the inverse daily percentage change in SpaceX common stock
- Primary Purpose: Provide amplified daily long and short exposure to SpaceX shares
- Target Investors: Sophisticated investors and active traders
- Investment Approach: Short-term directional trading
- Market Focus: Aerospace, satellite communications, commercial spaceflight, and space technology
- Launch Context: Introduced as SpaceX begins trading on public markets
- Strategic Significance: Expands GraniteShares’ leveraged single-stock ETF lineup
- Investor Use Case: Express bullish short-term market views on SpaceX
- Investor Use Case: Express bearish short-term market views on SpaceX
- SpaceX Business Segments Referenced: Launch services, Starlink satellite network, satellite communications, commercial spaceflight, government contracts, and space economy opportunities
- Fund Structure: Exchange-traded funds (ETFs)
- Exposure Period: Daily performance objectives
- GraniteShares Founder and CEO: Will Rhind
- GraniteShares Founded: 2016
- Assets Under Management: $15.31 billion as of June 08, 2026
- Global Exchange Presence: United States, United Kingdom, Italy, France, and Germany
- Product Categories: Leveraged ETFs, single-stock leveraged ETFs, YieldBOOST™ products, Autocallable ETFs, thematic ETFs, and income-oriented ETFs
Launch of SPAL and SNK
GraniteShares announced the introduction of:
- GraniteShares 2x Long SpaceX Daily ETF
- Ticker: SPAL
- GraniteShares 2x Short SpaceX Daily ETF
- Ticker: SNK
The launch expands the firm’s portfolio of leveraged single-stock exchange-traded funds and coincides with the commencement of public trading for Space Exploration Technologies Corp. (SpaceX).
According to GraniteShares, the funds are designed to provide traders with additional flexibility when seeking short-term exposure to one of the most closely followed companies in global markets.
The company stated that the launch reflects continued demand for specialized trading products that provide amplified participation in daily stock price movements.
New Single-Stock ETFs Provide Leveraged and Inverse Exposure to SpaceX
The newly launched funds are designed to provide investors with distinct approaches to gaining exposure to daily movements in SpaceX shares.
SPAL
GraniteShares 2x Long SpaceX Daily ETF (SPAL) seeks daily investment results, before fees and expenses, equal to:
- 200% (2x) of the daily percentage change in the price of SpaceX common stock
The fund is designed for investors seeking amplified daily participation when SpaceX shares increase in value.
SNK
GraniteShares 2x Short SpaceX Daily ETF (SNK) seeks daily investment results, before fees and expenses, equal to:
- -200% (-2x) of the inverse daily percentage change in the price of SpaceX common stock
The fund is designed for investors seeking amplified inverse exposure to daily declines in SpaceX shares.
According to GraniteShares, both ETFs are intended to function as short-term trading vehicles and are structured around daily investment objectives.
Company Commentary
Will Rhind
Founder and Chief Executive Officer
GraniteShares
“With SPAL and SNK, traders can now take 2x leveraged or short positions on a company that sits at the forefront of innovation across aerospace, satellite communications, and space technology.”
Later in the announcement, Rhind further commented on investor interest surrounding the company’s public market debut.
“Few companies have generated as much investor interest as SpaceX.”
“Its transition to the public markets represents one of the most anticipated market events in recent years.”
“With SPAL and SNK, traders can now take 2x leveraged or short positions on a company that sits at the forefront of innovation across aerospace, satellite communications, and space technology.”
SpaceX Enters Public Markets
According to GraniteShares, the launch of SPAL and SNK comes as SpaceX enters public markets following years of expansion across multiple business segments.
The company highlighted several areas that have contributed to investor attention surrounding SpaceX, including:
- Launch services
- Commercial spaceflight operations
- Starlink satellite network
- Satellite communications infrastructure
- Government contract activity
- Space technology development
- Participation in the broader space economy
GraniteShares stated that SpaceX has established itself as a significant participant within commercial spaceflight while simultaneously building one of the world’s largest satellite communications networks through Starlink.
The company noted that SpaceX’s operations span multiple sectors of the aerospace and communications industries, contributing to strong investor interest surrounding its public market debut.
Investor Tools for Bullish and Bearish Market Views
GraniteShares stated that the introduction of SPAL and SNK is intended to provide active traders with additional methods for expressing directional views on SpaceX.
The launch provides:
- Leveraged long exposure
- Inverse exposure
- Short-term tactical trading opportunities
- Amplified participation in daily stock movements
- Exchange-traded access through ETF structures
According to the company, the products are designed for sophisticated investors seeking efficient vehicles for implementing short-term market strategies.
The ETFs expand the range of available trading tools tied to SpaceX shares as investor interest in transformational technology companies remains elevated.
Expansion of GraniteShares’ Leveraged Single-Stock ETF Lineup
The launch of SPAL and SNK further expands GraniteShares’ existing suite of leveraged single-stock ETFs.
According to the company, its leveraged ETF lineup is designed to provide:
- Targeted stock exposure
- Amplified daily performance participation
- Trading flexibility
- Short-term market positioning tools
- Efficient ETF-based implementation
GraniteShares stated that the products are intended primarily for sophisticated investors and active traders who monitor positions frequently and understand leveraged investment strategies.
The company noted that SPAL and SNK strengthen its position within the leveraged single-stock ETF segment while broadening available exposures tied to widely followed public companies.
Fund Details
| Fund Name | Ticker | Investment Objective |
|---|---|---|
| GraniteShares 2x Long SpaceX Daily ETF | SPAL | Seeks 200% of the daily performance of SpaceX |
| GraniteShares 2x Short SpaceX Daily ETF | SNK | Seeks -200% of the daily performance of SpaceX |
Risk Factors and Important Information
GraniteShares stated that the funds are not suitable for all investors and are intended primarily for knowledgeable investors who understand leveraged investment strategies and the risks associated with daily leveraged exposure.
According to the company:
- The funds seek daily leveraged investment results
- The funds are intended as short-term trading vehicles
- Investors should understand the effects of daily rebalancing
- Investors should understand the effects of compounding
- Investors should understand market volatility risks
- Investors should understand leverage-related risks
GraniteShares stated that the funds may lose value even during periods when the underlying stock performs positively over longer periods due to daily compounding effects.
The company also noted that investors could lose the full principal value of their investment within a single day.
Additional risks identified by GraniteShares include:
- Market Risk
- Leverage Risk
- Compounding and Volatility Risk
- Counterparty Risk
- Rebalancing Risk
- Intra-Day Investment Risk
- ETF Investment Risk
- Underlying Stock Risk
- Sector Concentration Risk
- Derivative Instrument Risk
The company advised investors to carefully review the applicable prospectus before investing.
About GraniteShares
GraniteShares is a global asset manager focused on creating, issuing, and managing exchange-traded products.
Founded in 2016 by William “Will” Rhind, the firm develops investment products for high-conviction investors and operates across multiple international exchanges.
According to the company, GraniteShares launched its first U.S. ETF in 2017 and today offers products across:
- United States
- United Kingdom
- Italy
- France
- Germany
The firm’s ETF lineup includes:
- Leveraged ETFs
- Single-stock leveraged ETFs
- Income-oriented ETFs
- Thematic ETFs
- YieldBOOST™ products
- Autocallable ETFs
GraniteShares stated that it is a market leader in leveraged single-stock ETFs and reported $15.31 billion in assets under management as of June 08, 2026.
