NASA ETF Tops Rival Space Funds Within Two Months as SpaceX Demand Surges

An exchange-traded fund offering exposure to SpaceX has overtaken established rival space ETFs just two months after launching, according to a Bloomberg analysis. Demand for indirect investment in the privately held company is increasingly flowing into related ETFs.

Bloomberg ETF analyst Eric Balchunas wrote on X on May 26 that an "unusual scene" is unfolding in the space ETF market. Space-themed ETFs such as UFO, ARKX and ROKT have traded for years, but the NASA ETF surpassed all of them within two months of its debut, he wrote.

Balchunas attributed the fund's rapid growth to its inclusion of a SpaceX special purpose vehicle, or SPV. The ETF allocates 10% of its portfolio to a SpaceX SPV. "There's now a buying scramble to get SpaceX exposure," he wrote.

SpaceX is widely regarded as a leading company in the private space industry, but ordinary investors cannot easily invest directly because it remains unlisted. Products that hold SpaceX shares or related SPVs have therefore drawn attention as indirect investment vehicles.

Performance has also fueled demand. Balchunas said the NASA ETF has returned 55% since launch, helping attract investor interest.

The market is increasingly focused on access to key private companies as a competitive edge for thematic ETFs. More than broad exposure to the space industry, fund inflows are being driven by how much access a product can provide to companies such as SpaceX, where direct investment remains limited.