BlackRock IncBlackRock placed a $5 billion order for SpaceX shares at IPO, and its funds hold SpaceX, benefiting from the upcoming index inclusion.
Millions of investors may already own SpaceX shares through their 401(k)s, IRAs, or brokerage accounts without buying a single share directly. Major fund families including Fidelity, Baron Capital, BlackRock, Franklin Resources, and Neuberger Berman hold SpaceX across dozens of actively managed funds, with some Baron funds carrying over 20% exposure. SpaceX is set to join the Russell 1000 around June 18 and the Nasdaq 100 around July 6, which will force every passive fund tracking those indexes to automatically buy shares. BlackRock placed an order for at least $5 billion in SpaceX shares at the IPO, priced at a $1.75 trillion valuation, and the number of ETFs holding SpaceX has surged from four to 120 in recent days. Investors are advised to check their existing fund holdings before adding leveraged SpaceX ETFs to avoid doubling down on concentrated exposure they may already carry.
BlackRock IncBlackRock placed a $5 billion order for SpaceX shares at IPO, and its funds hold SpaceX, benefiting from the upcoming index inclusion.
Franklin Resources Inc
Fidelity National Information Services Inc
Space Exploration Technologies Corp. Class A Common StockSpaceX is set to join Russell 1000 and Nasdaq 100, forcing passive funds to buy shares, and its valuation is $1.75 trillion at IPO.