SpaceX (SPCX) has continued its growth post-IPO into the second session on Monday, trading near $178 and bringing the two-day gain to about 32% above last week's $135 price point.

This uptrend has kept investors focused on a rapidly growing number of leveraged exchange-traded funds built around the new ticker.

SPCX kicked off trading on June 12 at $135 per share, raking in about $75 billion in the largest IPO ever.

The operation, led by Goldman Sachs, gathered orders for about $250 billion and closed with demand exceeding supply by about three and a half times before the price determination.

It surpassed the previous record, the $29.4 billion listing of Saudi Aramco in 2019, by about two and a half times.

The stock jumped about 19% on Friday, closing at $160.95, before rising to around $192 on Monday.

SpaceX stock closed its second day of trading up 19.6% today, pushing the company's market cap above $2.5 trillion for the first time. SpaceX added $420 billion to its market cap today. pic.twitter.com/vLeEZMBzYV

— Sawyer Merritt (@SawyerMerritt) June 15, 2026

This has led to SpaceX being valued at nearly $2.3 trillion in its record debut on Nasdaq, placing it among the most valuable listed companies in the world and keeping Elon Musk's status as the first trillionaire on paper intact.

The size of this order book is at the center of an ongoing question hanging over the rally, namely whether purchases during the second session reflect solid demand or the fervor that often follows a massive oversubscription.

ETF issuers are mobilizing.

On Monday, GraniteShares listed its 2x Long SpaceX Daily ETF (SPAL) and a 2x Short version (SNK), while Defiance brought its 2x long product (SPCU) to market on the same day.

SPAL has a total net cost of 1.50% and updates its exposure daily, a feature that, according to the issuer, makes it a tool dedicated to short-term trading rather than long-term investing.

And they're off.. 11 leveraged SpaceX ETFs hitting the market today. Here's how they stand in the first half hour regarding $ volume. $SPCH in the lead by a nose.. $SPCL is no longer halted in 2nd place despite $SPCU in the mix. All told $119m in 30min. Solid. Anything over $1m on Day One is… pic.twitter.com/N2BJhetuaF

— Eric Balchunas (@EricBalchunas) June 15, 2026

They add to the initial offerings from ProShares, Direxion, and Leverage Shares, part of a wave of about 25 filings related to SpaceX submitted prior to the listing.

The previous SPCL fund from Defiance saw volumes of about $10 million on its first day and a rise of around 46% before SPCX started trading.

These launches extend a well-established strategy by leveraged funds on individual stocks since US regulators approved them in 2022.

The 2x Tesla fund from Direxion (TSLL) and the 2x Nvidia fund from GraniteShares (NVDL) reached approximately $6.5 billion and $4.4 billion in assets respectively, showing how quickly retail traders flock to leveraged bets on a single stock.

This same appetite now confronts the debate on SpaceX's valuation, with the price well above expected results for 2025.

The daily capital means that these funds can lose money even when SPCX rises in the long run, a risk that increases as the shares released into the market grow in the coming weeks.

Not all funds targeting SpaceX are intended for day traders. ARK Invest has stated that it now holds SPCX in four active ETFs (ARKX, ARKQ, ARKK, and ARKW), after being among the first investors in the company through the private ARK Venture Fund in 2023.

The company bought around 3.3 million shares for approximately $444 million around the debut, and SpaceX represented 11.38% of the ARK Venture Fund's net assets at the end of May, its largest position.

SpaceX is now public. For ARK, this moment has been years in the making. We initiated our position in the ARK Venture Fund in 2023, long before the S-1 was filed, and have built conviction through every data point since. Our thesis has not changed: this is one of the most… pic.twitter.com/XZl4chYJQB

— ARK Funds (@ARK_Funds) June 15, 2026

The upcoming sessions will test whether the demand that supported the debut will keep buyers interested, or if the leverage now built up on SPCX will amplify the first real retracement.