T-Rex files for leveraged SpaceX, Anthropic ETFs ahead of anticipated IPOs

By Suzanne McGee

PROVIDENCE, Rhode Island, 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 common stock of SpaceX and Anthropic, according to regulatory filings, as the two firms try to piggyback on what are expected to be two of the most hotly anticipated IPOs in 2026. 

SpaceX is likely to file for its IPO within days or weeks, while Anthropic’s IPO is also expected in 2026. But the ETF filings are signals of how aggressive asset managers catering to retail investors are trying to get a jump on the competition with products tied to stocks that do not yet trade publicly, ETF industry insiders said.

“They’re so early that they are showing up to the game before it’s even been invented yet, trying to stake a claim to territory that hasn’t been mapped out yet,” said Alex Morris, founder of F/m Investments LLC, an asset manager and ETF issuer. “It has become a part of the ETF ecosystem to try and do as much as you can as rapidly as you can 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 the SpaceX IPO have yet to be publicly revealed, the company is in the midst of preparing its offering, which could be one of Wall Street’s largest-ever initial public offerings, with as much as 30% of the new shares earmarked for retail investors. Owners of the growing number of leveraged single-stock ETFs tend to be individual investors who eagerly track high-profile, volatile stocks such as Tesla and Nvidia. 

(Reporting by Suzanne McGee in Providence, Rhode Island; editing by David Gaffen )