Leverage Shares lists Europe’s first SpaceX and DRAM income ETPs

Leverage Shares, the single-stock ETP issuer, rolled out four new products on Thursday on the London Stock Exchange, Euronext Amsterdam, Borsa Italiana and Deutsche Börse Xetra, including income ETPs it says are the first in Europe tied to SpaceX and memory (DRAM).

The package gives European investors three ways to trade SpaceX less than a month after the company’s 12 June Nasdaq debut: a 3x Long ETP (now listed on Xetra from 13 July), a new -3x Short ETP and the IncomeShares SpaceX (SPCX) Options ETP. A separate IncomeShares Memory (DRAM) Options ETP rounds out the launch.

Both income products are physically replicated, distributing ETPs with 0.55% expense ratios. They aim to generate monthly income by combining direct equity exposure with put-option sales at strikes ranging from 5% out-of-the-money to 10% in-the-money.

“One month after one of the most anticipated public-market debuts of a generation, investors are looking beyond simple ownership. They want the ability to trade SpaceX long, short, or target income from the theme,” said Oktay Kavrak, Head of Communications & Strategy at Leverage Shares.

The DRAM income product follows leveraged and inverse DRAM ETPs the firm listed in June. The IncomeShares platform now holds more than 55 products, with AUM reaching $189 million at end-June.