According to Eric Balchunas, T-Rex has filed for a 2x leveraged Discord ETF even though Discord is not expected to go public until March, highlighting pre-IPO product planning by the issuer; source: Eric Balchunas (X, Jan 15, 2026). A 2x single-stock ETF seeks to deliver twice the daily return of the underlying stock via derivatives and rebalances daily, making it intended for short-term trading rather than long-term holding; source: U.S. SEC Office of Investor Education and Advocacy, Investor Bulletin on Leveraged and Inverse ETFs. If approved and launched following Discord’s listing, the ETF would offer traders a levered vehicle for directional exposure to Discord’s daily moves; source: U.S. SEC Office of Investor Education and Advocacy, Investor Bulletin on Leveraged and Inverse ETFs.