One of the biggest potential developments in the investing world might be taking shape this week. I am referring to the initial public offering (IPO) of SpaceX.
If you haven’t heard of SpaceX, it is the (for now) private space technology and exploration company helmed by Elon Musk.
Musk is most widely known for his leadership of electric vehicle, battery and robotics company Tesla Inc. However, SpaceX is also a Musk enterprise. And we could be getting some details about its public markets debut as soon as this week.
According to reporting from Forbes, SpaceX “will likely make public its paperwork” this week as it aims for a 12 June IPO on the American NASDAQ exchange.
It could be the largest IPO in history, with Musk reportedly looking to raise as much as US$75 billion and valuing SpaceX at a gargantuan US$1.75 trillion. This could, in turn, make Musk the world’s first trillionaire. He is already worth more than US$800 billion, so he’s really just a hop, skip, and jump away from ‘the big T’ already.
SpaceX is home to some of the world’s most exciting technology, including xAI, Starlink, and SpaceX’s cutting-edge rocketry. As such, there will be plenty of investors who would relish the thought of owning SpaceX stock if it does IPO. That potentially includes many Australians. However, Australian investors will need to cross the proverbial pond and purchase shares directly on the US stock market is they wish to get a piece of the action directly.
Saying that, there will probably be another way for Australians to invest in the SpaceX IPO without owning US stock if they so wish.
Using ASX ETFs to buy SpaceX after IPO
It’s by investing in exchange-traded funds (ETFs), of course.
ETFs are one of the simplest ways that Australian investors can buy US stocks without leaving the comfort of our local market. As it happens, a space-themed ASX ETF launched on the ASX just last week. It is none other than the BetaShares Space Industry ETF (ASX: RCKT).
As it sname implies, this ASX ETF offers Australian investors a portfolio of global stocks that are all leaders in the space industry. At present, RCKT’s portfolio includes Rocket Lab USA Inc, Firefly Aerospace Inc, and Planet Labs PBC.
Of course, it does not contain SpaceX, at least yet, as the company has still not IPO-ed. However, I would be shocked if SpaceX doesn’t make this ETF’s cut as soon as it is eventually listed. So once we do know when the SpaceX IPO will occur, keep an eye on this ETF’s holdings to see if it pops up. If it does, RCKT will probably be the easiest way ASX investors can buy shares of SpaceX.
The post Is this the easiest way to invest in the SpaceX IPO on the ASX? 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 Planet Labs PBC, Rocket Lab, and Tesla. 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.