ERShares Crossover ETF Assets Jump to $2.2B, Adds 2% Pre-IPO Fee
XOVR•ERShares Private-Public Crossover ETF assets climbed to $2.2 billion from under $500 million at the end of March as SpaceX weighting fell from 45% to 14%. The fund will reject large creation orders and impose a 2% redemption fee when SpaceX begins trading.
1. Rapid Asset Growth
ERShares Private-Public Crossover ETF saw its assets surge from below $500 million at the end of March to $2.2 billion as investors sought indirect SpaceX exposure ahead of its IPO.
2. Portfolio Dilution
Heavy inflows have diluted SpaceX’s position in the ETF, reducing its portfolio weight from approximately 45% at the end of March to around 14% as new capital has entered.
3. Pre-IPO Fee Measures
To deter short-term speculators, the fund is rejecting certain large creation orders and will implement a 2% redemption fee starting on the first day SpaceX shares trade.
