SpaceX is set to join the Nasdaq 100 just 15 trading days after going public, marking the fastest entry into the technology heavy benchmark on record.

The company will be added before markets open on July 7, less than a month after its June 12 debut on the Nasdaq under the ticker SPCX.

The rapid inclusion was enabled by Nasdaq’s new fast entry rule, which took effect on May 1.

Under the updated methodology, a newly listed company can enter the Nasdaq 100 after 15 trading days if its full market capitalization ranks among the index’s 40 largest companies and it meets the remaining eligibility requirements.

Previously, new listings could face a waiting period of several months or as long as one year before becoming eligible.

SpaceX easily cleared the size threshold after completing the largest public offering in US history. The company raised $75 billion at an offering price of $135 per share, giving it an initial valuation of about $1.8 trillion.

Shares jumped 19% during their first trading session and briefly pushed the company’s market value above $2 trillion.

Its Nasdaq 100 inclusion is expected to create another major source of demand.

JPMorgan estimates that index funds could purchase about $4.3 billion worth of SpaceX shares as they adjust their holdings. Funds tracking the benchmark include the Invesco QQQ and QQQM exchange traded funds.

More than $800 billion in assets are tied to the Nasdaq 100, meaning additions can generate significant automatic buying regardless of a company’s valuation or recent share performance.

That effect could be amplified by SpaceX’s limited public float. Only a small portion of the company’s total shares is currently available for public trading, leaving passive funds competing for a relatively restricted supply.

The fast inclusion has also attracted criticism from investors concerned that index funds are being forced to purchase newly listed companies before their prices and liquidity have stabilized.

Nasdaq has argued that the change allows the index to remain representative as large private companies wait longer to enter public markets and often debut at valuations comparable with established index members.

SpaceX will still have to wait significantly longer for potential inclusion in the S&P 500.

S&P Dow Jones Indices declined to introduce a similar fast entry process. Under its existing rules, newly listed companies generally need at least 12 months of trading history and must meet profitability and public float requirements.