SpaceX IPO drives NASDAQ’s busiest month in 6 years
The largest IPO in history sent shockwaves through index funds, ETF flows, and the broader risk-on trade that crypto investors should be watching closely.
SpaceX went public on June 12 under the ticker SPCX on Nasdaq, and the numbers are genuinely absurd. The company raised between $75 billion and $86 billion in proceeds, making it the largest IPO in history by both valuation and capital raised. Shares opened at $150, closed near $161, and more than 500 million shares changed hands on day one.
That’s a roughly 19% pop on debut.
The IPO pushed SpaceX’s market valuation to approximately $1.75 trillion, with its market cap swelling to around $2.1 trillion by the close of its first trading session.
The ETF earthquake
SpaceX triggered the fastest entry into the Nasdaq-100 Index in history, earning its spot on July 7, merely 15 trading days after going public.
That speed was possible because Nasdaq implemented a new “fast entry” rule specifically designed to accommodate mega-cap listings.
Major Nasdaq-tracking ETFs like Invesco’s QQQ and QQQM were forced into significant rebalancing, buying up SpaceX shares to match the updated index composition. SpaceX is expected to carry an initial Nasdaq-100 weighting somewhere between 0.47% and 0.70%.
June 2026 became the busiest month for Nasdaq’s biggest ETFs in six years. Record inflows poured in as both institutional and retail investors scrambled to get exposure, either directly through SpaceX shares or indirectly through the index products that now included them.
The Tema Space Innovators ETF, which trades under the ticker NASA, amassed over $2.6 billion in assets under management within roughly two months of its March 30 launch.