SpaceX IPO Fever Sends NASA ETF To Record AUM - One Holding Could 'Dominate' The Space Race, Says Analyst

Retail investors are driving money into space-focused ETFs as SpaceX’s planned IPO intensifies the space rally. The NASA ETF has reached $2.6 billion in assets, up 50% since its March debut, with SpaceX exposure at 6.9% and Rocket Lab as the largest holding at 10.1%. The Kobeissi Letter notes that assets across space-focused ETFs have surpassed $5 billion, reflecting growing retail interest ahead of SpaceX’s anticipated IPO scheduled for June 12. SpaceX is targeting a $75 billion raise and a $1.8 trillion valuation, and is opening the offering to retail investors via platforms like Robinhood, SoFi, Fidelity, Charles Schwab, and E*Trade, with reports suggesting as much as 30% of allocations could go to individuals. The NASA ETF’s holdings also include MDA Space, AST SpaceMobile, Planet Labs, EchoStar, Intuitive Machines, and Firefly Aerospace. Oppenheimer analysts caution that while SpaceX expansion could benefit space stocks, the stock’s lofty valuation remains a market concern.