ETF Gains 30.7% From SpaceX IPO, Restructures SPV to Protect Shareholders
XOVR•From March 30 to June 15, 2026, XOVR’s SpaceX stake delivered $183 million in unrealized gains and drove a 30.71% fund return following SpaceX’s June 12 IPO. ERShares restructured the position into a 0/0 SPV and implemented a Shareholder Protection Plan, limiting over $1 billion in potential event-driven inflows to preserve exposure.
1. Performance Metrics
From March 30 to June 15, 2026, XOVR’s SpaceX exposure generated over $183 million in unrealized appreciation and contributed to a 30.71% gain in the fund’s net asset value following SpaceX’s June 12 IPO.
2. SPV Restructure and Transparency Reset
In January 2026, ERShares converted its SpaceX holding into a 0/0 special purpose vehicle with no management or performance fees at the SPV level, part of a Transparency Reset initiative designed to enhance fee efficiency and alignment with long-term shareholders.
3. Shareholder Protection Measures
Ahead of the IPO, ERShares enacted a Shareholder Protection Plan including board-reviewed fair value updates, redemption and creation fee mechanics, and caps on short-term event-driven creations, successfully restricting over $1 billion in potential inflows to preserve existing shareholder exposure.
