XOVR ETF Assets Jump to $2.2B as SpaceX IPO Sparks Demand
XOVR•XOVR•XOVR•XOVR•XOVR assets surged from under $500 million to $2.2 billion since late March as investors chase SpaceX exposure ahead of its $135 IPO valuing the company at $1.75 trillion. The fund’s SpaceX weighting fell from 45% to 14%, and XOVR will impose a 2% redemption fee on IPO day.
XOVR’s assets climbed to $2.2 billion from under $500 million at the end of March as investors flocked to the fund’s exposure to SpaceX ahead of its IPO.
Inflows diluted XOVR’s position in SpaceX, cutting the weighting from 45% to 14% by June, reflecting broad fund growth outpacing underlying holdings.
To deter short-term speculative flows, XOVR is rejecting large creation orders before SpaceX’s trading debut and will impose a 2% redemption fee starting on IPO day.
SpaceX’s $135 IPO price assigns a $1.75 trillion valuation, driving ETF demand as investors anticipate a post-IPO pop, though single-company gains may be muted within diversified funds.
