By Suzanne McGee
PROVIDENCE, R.I., March 26 (Reuters) – REX Shares and Tuttle Capital Management plan to launch 2x leveraged exchange-traded funds tied to yet-to-be-issued publicly traded shares of SpaceX and Anthropic, according to regulatory filings, as the two companies try to capitalize on what are expected to be two of the most anticipated IPOs in 2026.
SpaceX is likely to file for its initial public offering (IPO) within days or weeks, while Anthropic’s IPO is also expected in 2026. But the ETF filings are signs of how aggressively asset managers serving retail investors are trying to “leapfrog” the competition with products linked to stocks that are not yet publicly traded, ETF industry experts said.
“They’re so early that they’re coming into the game before it’s even been invented yet, trying to claim territory that hasn’t been charted yet,” said Alex Morris, founder of F/m Investments LLC, an asset manager and ETF issuer. “It’s become part of the ETF ecosystem to try to do as much as you can, as quickly as possible, to beat your rivals.”
The T-Rex 2x Long SpaceX Daily Target ETF and the T-Rex 2x Long Anthropic Daily Target ETF aim to give holders 200% of the daily performance of those two companies, once they make their public market debut.
REX Shares and Tuttle did not immediately return calls seeking comment on the filings.
Although the timing, size and many other details of SpaceX’s IPO have yet to be publicly revealed, the company is preparing its offering, which could be one of the largest initial public offerings in Wall Street history, with up to 30% of the new shares going to retail investors. Owners of the growing number of single-stock leveraged ETFs tend to be individual investors who enthusiastically follow high-profile, volatile stocks like Tesla and Nvidia.
(Reporting by Suzanne McGee in Providence, Rhode Island; editing by David Gaffen)