SpaceX is going public tomorrow—June 12—and it’s not just any IPO. We’re talking about the largest IPO in history, with the company raising up to $75 billion at $135 per share and landing a valuation around $1.8 trillion. Yeah, you read that right. Elon’s space company is about to become a publicly traded behemoth, and the financial world is scrambling to figure out how to fit it into your portfolio.
Here’s where it gets interesting: the major index providers are basically rewriting the rulebook to get SpaceX in front of investors as fast as possible. The Nasdaq-100 just slashed its waiting period from three months down to 15 trading days. FTSE Russell went even more aggressive, allowing mega-cap companies into the Russell Top 500 after just five trading days instead of waiting for quarterly reviews. It’s like they’re rolling out the red carpet.
But not everyone’s playing ball. S&P Dow Jones Indices said “nope” to changing the rules for SpaceX. The S&P 500 still requires companies to show positive earnings for both their most recent quarter and the prior full fiscal year. This is the same rule that kept Tesla out of the index for over a decade after its IPO. SpaceX, OpenAI, and Anthropic would all have to wait at least 12 months—possibly longer if they stay unprofitable. With $20 trillion in assets indexed to the S&P 500, this decision actually matters.
Now, here’s the kicker: when SpaceX does get added to the Nasdaq-100, it’s getting special treatment. The index will weight it at three times its float—basically giving it more influence than a typical IPO. That means SpaceX will make up roughly 0.6% of the Invesco QQQ and Invesco NASDAQ 100 ETF. Not huge, but definitely noticeable.
If you’ve been eyeing space-themed ETFs, you already know SpaceX is coming. The Baron First Principles ETF, the Entrepreneur Private-Public Crossover ETF, and the Tema Space Innovators ETF have all been loading up on pre-IPO exposure. Money’s been pouring in, and these funds are expecting SpaceX to be a major addition.
But here’s the thing: SpaceX isn’t just a space play anymore. The company’s prospectus is basically screaming about AI. They’re estimating a $28.5 trillion total addressable market, with AI accounting for most of it. So expect SpaceX to show up in AI-focused ETFs too. The company’s positioning itself as a tech powerhouse, not just a rocket launcher.
Oh, and one more thing: over 20 leveraged and inverse SpaceX ETFs are launching within days of the IPO. These are designed for short-term traders and are absolutely not suitable for anyone thinking long-term. If you’re tempted, remember that these products are basically financial fireworks—exciting but dangerous.
The bottom line? SpaceX is coming to your portfolio whether you buy it directly or not. The real question is whether you’re getting in at the right price or just chasing hype. Either way, the market’s already decided this is a big deal.
