VettaFi Rebrands Space Index for Day-One SpaceX, AST SpaceMobile Shares Drop 14%
VettaFi will rebrand the S-Network Space Index to VettaFi Space Index on May 15, 2026, adding a fast-track inclusion rule to onboard mega-cap IPOs like SpaceX on day one. AST SpaceMobile shares plunged over 14% after BlueBird 7 entered a low orbit and will be de-orbited with insurance covering losses.
1. Index Rebranding and Methodology Update
VettaFi will transition the S-Network Space Index to the VettaFi Space Index on May 15, 2026, introducing a fast-track inclusion rule that bypasses traditional waiting periods for newly public mega-cap space companies. This methodology change aims to capture market leaders like SpaceX immediately, enhancing the underlying benchmark for the Procure Space ETF.
2. AST SpaceMobile Satellite Issue and Share Impact
AST SpaceMobile’s BlueBird 7 satellite was placed into a lower-than-planned orbit during the New Glenn 3 mission, necessitating de-orbiting due to insufficient altitude. The unforeseen orbital deviation sent AST SpaceMobile shares down over 14% in premarket trading, though the company expects to recoup costs through insurance coverage.