Direxion files for Trillions ETF to track equities over $1T, including 2x leveraged version

Direxion, the firm that made its name letting traders double and triple down on everything from semiconductors to small caps, has filed with the SEC for an ETF that exclusively holds equities with market capitalizations exceeding $1 trillion. The kicker: it’s also proposing a 2x daily leveraged version. The filing puts Direxion squarely in the growing “trillion-dollar club” ETF space. It also reflects a market reality that would have sounded absurd a decade ago: there are now enough trillion-dollar companies to fill an index. The trillion-dollar index race heats up Direxion isn’t the first to spot this opportunity. Defiance ETFs launched its own trillion-dollar product, the Defiance Trillion Dollar Club Index ETF (TRIL), on September 30, 2025. That fund tracks the BITA Trillion Dollar Club Index and initially included names like Nvidia, Microsoft, Apple, and Amazon, weighted equally across the portfolio. TRIL took a notably broad approach to “trillion-dollar” assets. It even included exposure to the iShares Bitcoin Trust. But TRIL operates as a straightforward, unleveraged index tracker, which is precisely where Direxion sees a gap. Direxion’s proposed offering would add a leverage...