Direxion Files for Three ETFs Targeting Memory Chips and AI Power Demand

Direxion has filed to launch three ETFs offering exposure to the global memory semiconductor industry and U.S. electricity markets, targeting investment themes linked to AI infrastructure and rising power demand. The proposed Direxion Memory ETF will track the Global Memory Equal Weight Index, comprising 15 globally listed companies generating at least 50% of their revenue from memory and storage technologies, including DRAM, flash memory, nonvolatile memory, storage drives and related components. Constituents will be equally weighted, with the index reconstituted quarterly. Unlike Direxion's leveraged products, the fund will use a conventional passive indexing approach without a stated leverage target. The Direxion AI Powered Electricity Commodity ETF will track the ICE U.S. Prompt Power Total Return Index, providing exposure to six front-month electricity futures contracts. The Direxion AI Powered Electricity Commodity - Long Dated ETF will track the ICE U.S. National Power Index, comprising 72 futures contracts spanning 12 monthly maturities across six U.S. electricity markets. Both funds will cover PJM, MISO, ERCOT, CAISO, NYISO and ISO-NE, with contract weights based on regional electricity consumption data from FERC. Futures will be rolled monthly, while the indices will rebalance annually. The electricity funds aim to capture changes in wholesale power prices associated with structural demand drivers, including AI data centers, industrial electrification and population growth, although returns will also reflect futures pricing and market conditions. Both will primarily obtain commodity exposure through futures contracts, including via Cayman Islands subsidiaries, and will be classified as commodity pools under CFTC regulations. All three proposed ETFs are non-diversified. Tickers, fees and launch dates were not specified in the provided filing details.