By Gregor Stuart Hunter
SINGAPORE, July 10 (Reuters) – At least 10 fund managers, including major issuers Direxion and ProShares, have filed registrations to list single-stock exchange-traded funds tracking SK Hynix soon after the chipmaker begins trading in the U.S., according to regulatory filings.
• Almost all of the filings referring to SK Hynix are for leveraged and inverse strategies tracking the Korean chipmaker’s Nasdaq-listed ADRs.
• SK Hynix is due to begin trading on the Nasdaq on Friday after raising $26.5 billion this week.
• Fund managers include ThemesETFs, which plans to list a 2x levered ETF and a 1x short ETF on Cboe on July 13 under its Leverage Shares brand, according to a press release.
• CorgiFunds has filed to list a 2x levered SK Hynix ETF on the Cboe BZX Exchange, which is scheduled to begin trading the same day, the fintech said in a press release.
• Direxion is also seeking to list a 2x levered SK Hynix ETF which will “begin trading shortly after SK Hynix’s ADR lists on Nasdaq,” it said in a press release.
• Leveraged ETFs tracking SK Hynix’s shares in Korea have been cited as a factor warping the Seoul market, with the head of the country’s market regulator saying he regretted approving them.
(Reporting by Gregor Stuart Hunter; Editing by Christopher Cushing)
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