SK Hynix's US listing sparks rush of single-stock ETF filings

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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