Is it 1969 or 2026? Investors might be a little confused, given that space, or more specifically, investing in space stocks, is becoming all the rage this year. A month ago, the ASX hosted no space-themed exchange-traded funds (ETFs). Today, it has one, and soon, it will have two.
That says it all.
Yep, as we covered earlier this month, 12 May saw the debut of the BetaShares Space Industry ETF (ASX: RCKT). This ASX ETF allows Australian investors to indirectly own shares in a number of global leaders in the space sector. RCKT units have done quite well since their ASX inception, too, currently up almost 30% since launch (no pun intended).
Perhaps rival ETF provider Global X has noticed. It has just revealed that its next ASX ETF will also be space-themed, designed to “capture the future of the space economy”. It will be known as the Global X Space Tech ETF, and trade with the ticker code ‘MOON’.
And that’s all we know for now. Global X hasn’t released any further details, including its launch date, fees, underlying index, or holdings.
There is a good chance that it will look fairly similar to the BetaShares Space Industry ETF, though. As we’ve discussed here before, RCKT tracks the Solactive Space Industry Index. It charges a management fee of 0.57% per annum. Its top holdings currently include Rocket Lab Corp, AST Spacemobile Inc, Planet Labs PBC, and Viasat Inc.
A new ASX ETF for the SpaceX age
Let’s get to the elephant in the room, though. There’s little doubt that the impending initial public offering (IPO) of Elon Musk’s SpaceX is driving this interest in space investing. SpaceX, which also owns Starlink, xAI, and X (formerly Twitter), is shaping up to be one of the biggest IPOs in history and could make Musk the world’s first trillionaire. The company’s ambitious plans, vast scope, and unique leadership have excited investors all over the world. When SpaceX does eventually float, you can bet your bottom dollar that it will be a large, if not the largest, holding in both RCKT and MOON.
The Global X and Space Tech ETF and the Betashares Space Industry ETF will, in all likelihood, be the easiest way for ASX investors to buy into SpaceX without owning the US stock themselves. No doubt the provers know this, and are rolling out these ASX ETFs in anticipation. Watch this space.
The post SpaceX IPO: Strap in for launch with another ASX space ETF appeared first on The Motley Fool Australia.
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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended AST SpaceMobile, Planet Labs PBC, and Rocket Lab. The Motley Fool Australia has recommended Rocket Lab. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.