Singapore, July 10 – In a move that has sent shockwaves through the financial markets, at least 10 fund managers, including major issuers Direxion and ProShares, have filed registrations to list single-stock exchange-traded funds (ETFs) tracking SK Hynix, the Korean chipmaker, following its listing on the Nasdaq in the US.

According to regulatory filings, almost all of the filings referring to SK Hynix are for leveraged and inverse strategies tracking the company’s Nasdaq-listed American Depositary Receipts (ADRs). The filings indicate that the fund managers are seeking to capitalize on the significant interest in SK Hynix’s shares following its highly successful initial public offering (IPO) this week, which raised $26.5 billion.

One of the fund managers, ThemesETFs, has filed to list a 2x levered ETF and a 1x short ETF on the Cboe exchange under its Leverage Shares brand, with the funds set to begin trading on July 13. CorgiFunds has also filed to list a 2x levered SK Hynix ETF on the Cboe BZX Exchange, with the fund set to begin trading on the same day.

Direxion is also seeking to list a 2x levered SK Hynix ETF, which will begin trading shortly after SK Hynix’s ADR lists on the Nasdaq. The move by Direxion is seen as a significant development, as the company is a major player in the ETF market and has a reputation for launching innovative and popular funds.

The rush of single-stock ETF filings following SK Hynix’s listing has raised concerns among market regulators in Korea, with the head of the country’s market regulator expressing regret over the approval of leveraged ETFs tracking SK Hynix’s shares in Korea. The head of the regulator stated that the approval of these funds has had a significant impact on the Seoul market, with the funds being cited as a factor in the market’s volatility.

The move by fund managers to list single-stock ETFs tracking SK Hynix is seen as a sign of the growing interest in the company’s shares and the potential for significant returns. However, the move has also raised concerns among market regulators, who are warning investors to exercise caution when investing in these funds.

The listing of single-stock ETFs tracking SK Hynix is set to be a significant development in the financial markets, with the funds offering investors a way to gain exposure to the company’s shares without having to purchase individual stocks. However, the move has also raised concerns among market regulators, who are warning investors to exercise caution when investing in these funds.