The retail SpaceX stampede
ERShares is leaning harder into the private-market hype machine. Its ERShares Private-Public Crossover ETF, XOVR, said it added about $35 million of extra SpaceX exposure, pushing the fund's total position to roughly $281 million — about 23% of assets under management.
That’s not exactly a casual nibble. It’s more like the ETF looked at the SpaceX IPO buzz and said, “Yeah, let’s bring the whole appetizer tray.” With SpaceX now having filed for an IPO late Wednesday, investors are clearly trying to get in front of what could be one of the splashiest public debuts in years.
Why investors should care
The whole point of XOVR is to give you a bridge into companies that are still mostly off-limits to ordinary public-market investors. And SpaceX is the poster child for that trend: launch services, Starlink, satellite broadband, and now the kind of AI-infrastructure halo that gets thematic investors to sit up a little straighter.
ERShares says the fund's SpaceX position has already grown by around $41 million over the past month, which is a tidy reminder that sentiment alone can do a lot of heavy lifting when a company is on every investor's wish list.
Not just a one-off trade
The move also spotlights a bigger race among ETF issuers: packaging private-company exposure in a format that doesn't require you to be a venture capitalist with a billion-dollar Rolodex. XOVR wasn't the only fund built to chase this idea, but it has become one of the clearest examples of how quickly the market can turn a hard-to-own private company into a public-market obsession.
Big picture: when ETFs start loading up on pre-IPO SpaceX exposure, you know the market is officially treating private companies like the new blue chips.