SK Hynix Debuted July 10 in a Monster $29 Billion Offering. GraniteShares Offers Leveraged Long (SKUU) and Short (SKDD) ETFs

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SK Hynix (SKHY) debuted on the Nasdaq on July 10th in one of the most anticipated listings in market history, trading under the ticker SKHY. The South Korean memory chip company is targeting up to $29.4 billion in its U.S. offering, which would rank among the largest stock market listings ever recorded. 

In conunction with that debut, GraniteShares has unveiled two new short-term trading vehicles tied to the highly anticipated SK Hynix listing: the GraniteShares 2x Long SK Hynix Daily ETF (SKUU) and the GraniteShares 2x Short SK Hynix Daily ETF (SKDD). Both funds are scheduled to commence trading this week, offering market participants amplified and inverse tools to trade one of the chip industry's most significant market events.

SK Hynix May be One of the Biggest AI Share Sales in Recent History

SK Hynix is the world's second-largest memory chipmaker and holds an estimated 57% of the global market for high-bandwidth memory (HBM), the specialized chip technology required inside Nvidia's (NVDA) most advanced AI processors. Every major AI data center depends on HBM, and SK Hynix supplies more of it than any other company on earth.

That position has already made SK Hynix stock one of the most dramatic performers in global markets this year. Already listed on the Korea Exchange, its shares have surged more than 280% in 2026 as AI infrastructure spending accelerated, briefly pushing its market capitalization above $1 trillion and making it the most valuable listed company in South Korea, overtaking Samsung Electronics for the first time in 26 years.

SK Hynix is seeking to expand its reach by debuting in the American market, where it will compete with rival Micron Technology (MU) and seek to attract passive institutional capital that flows into Nasdaq-listed technology benchmarks. As with any listing, the ultimate valuation will be determined by bookbuilding and market conditions.

Leveraged ETFs Continue to Gain Traction

The SpaceX (SPCX) IPO in June demonstrated that demand for leveraged exposure to high-profile new listings is substantial and immediate. On the peak trading day of SpaceX's first week on the Nasdaq, leveraged ETF volume across the product ecosystem exceeded $4.2 billion in a single session, with more than $10 billion in total leveraged ETF volume recorded across the first week. GraniteShares' own SpaceX-leveraged ETFs generated more than $516 million in trading volume during that stretch, according to CNBC data.

SK Hynix is expected to attract a similar profile of trader interest. The company is already well known to semiconductor investors, and its HBM dominance makes it one of the most direct single-stock plays on the AI infrastructure buildout available in public markets.

Trade SK Hynix With Leverage Using SKUU and SKDD

The GraniteShares 2x Long SK Hynix Daily ETF (SKUU) and the GraniteShares 2x Short SK Hynix Daily ETF (SKDD) each seek daily investment results equal to 200% and -200%, respectively, of the daily performance of SK Hynix's Nasdaq-listed ADR, before fees and expenses.

• When SK Hynix rises 1%, SKUU targets a 2% gain and SKDD targets a 2% decline (before fees)
  • SKUU aims to suit active traders with a bullish short-term view on SK Hynix's momentum following its Nasdaq debut
• When SK Hynix falls 1%, SKDD targets a 2% gain and SKUU targets a 2% decline (before fees)
  • SKDD aims to suit active traders positioning for downside or volatility on the short side

Both funds reset their leverage daily, and the targeted 200% and -200% exposures apply to single-day price movements. 

It is important to note that leverage works both ways: because these funds reset daily, holding either fund beyond a single trading session introduces compounding effects that may cause returns to diverge meaningfully from the underlying ADR over time. Both funds are designed for sophisticated investors who understand the consequences of seeking daily leveraged investment results and intend to actively monitor their positions.

Korean Semiconductor Giant Arrives on Wall Street

SK Hynix's domestic performance has generated immense hype around its American debut, and the AI memory story driving that hype has not slowed down. For active traders looking to position around one of the most significant NASDAQ listings of the year, there is no need to manage complex options strategies or execute multiple derivative orders. 

With GraniteShares 2x Long SK Hynix Daily ETF (SKUU) and the GraniteShares 2x Short SK Hynix Daily ETF (SKDD), traders can go long, go short, or trade both sides of the of SK Hynix's NASDAQ listing with leverage.

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