GraniteShares launched two new exchange-traded funds tied to Space Exploration Technologies Corp. (NASDAQ: SPCX), providing leveraged exposure to SpaceX as the company begins trading on public markets.

The GraniteShares 2x Long SpaceX Daily ETF (SPAL) seeks daily investment results of 200% of SpaceX's daily stock price changes, while the GraniteShares 2x Short SpaceX Daily ETF (SNK) targets -200% of the daily performance. Both funds are designed for short-term trading and carry significant risks due to their leveraged nature.

The ETFs allow investors to take amplified bullish or bearish positions on SpaceX, which operates launch services, the Starlink satellite network, and other space-related businesses. GraniteShares noted that SpaceX's public market debut represents one of the most anticipated market events in recent years.

"Few companies have generated as much investor interest as SpaceX," said Will Rhind, founder and CEO of 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."

The funds expand GraniteShares' lineup of leveraged single-stock ETFs. The company manages $15.31 billion in assets as of June 2026, according to the press release.

GraniteShares warned that the funds are not suitable for all investors and carry substantial risks. The leveraged products can lose money even when the underlying stock rises over periods longer than one day due to daily rebalancing and compounding effects.