The public debut of Space Exploration Technologies Corp (NASDAQ:SPCX) has sparked one of the most aggressive ETF launch waves in recent memory, with issuers rushing to roll out leveraged products tied to the aerospace giant as traders seek amplified exposure to one of the market’s most closely watched stocks.

• SpaceX shares are experiencing downward pressure. What’s driving SPCX stock lower?

Ten leveraged SpaceX ETFs launched on Monday, offering investors a growing menu of products to bet both for and against the newly public company.

The launches come as SpaceX, trading under the ticker SPCX, begins attracting attention not only from retail traders but also from ETF issuers eager to capitalize on the stock’s expected volatility.

The enthusiasm has translated into significant trading activity. On Monday, 11 leveraged ETFs benchmarked to SpaceX generated more than $1 billion in volume. Even the lowest-volume fund among those tracked by Bloomberg Intelligence traded $26 million, prompting analyst Eric Balchunas to describe the activity as “bonkers.”

Issuers Race To Capture Demand

Among the latest entrants, ProShares launched the Ultra SpaceX ETF (NYSE:SPCF), which seeks to deliver 200% of SpaceX’s daily return.

“SPCF offers investors a way to magnify a bullish view on SpaceX without borrowing on margin,” said ProShares CEO Michael L. Sapir.

Tradr ETFs also joined the race with the launch of the Tradr 2X ...