BlackRock STAR ETF Adds 2.6% AST SpaceMobile Holding, Stock Rises 1%
ASTS•Investor orders for SpaceX topped $250 billion, making its IPO nearly four times oversubscribed, prompting a wave of leveraged SpaceX ETFs. AST SpaceMobile shares jumped 1% after BlackRock’s STAR ETF added a 2.6% weight in the company alongside new ProShares-launched 2x SpaceX funds.
1. ProShares Launches Leveraged SpaceX ETFs
ProShares unveiled the ProShares Ultra SpaceX ETF (SPCF) to deliver two times daily performance of SpaceX shares on IPO debut, joining Direxion’s LOFF, Leverage Shares’ SPCH, Defiance’s SPCU and GraniteShares’ SPAL. These funds offer amplified exposure to SpaceX ahead of public trading.
2. BlackRock STAR ETF Weightings
BlackRock introduced the iShares Space Technologies UCITS ETF (STAR) for European investors, featuring a fast-entry mechanism for new listings. STAR holds 56 stocks, with Rocket Lab at roughly 20%, Intuitive Machines at 3.4% and AST SpaceMobile at 2.6%, at a 0.5% expense ratio.
3. AST SpaceMobile Share Movement
AST SpaceMobile shares rose 1% in overnight trading as investors adjusted positions around the new space-themed and leveraged ETFs. The inclusion of AST SpaceMobile in STAR and the launch of ProShares’ SpaceX funds have increased liquidity interest in the satellite communications firm.
