SpaceX plans to go public in 2026 with a valuation target of up to $1.75 trillion, and for the first time ever, intends to allocate 30% of its shares to retail investors. Currently, early exposure can be obtained through the Cosmos Fund (100% focused on SpaceX, but with high entry barriers) or the ERShares Private-Public Crossover ETF (with approximately 23.49% of its holdings in SpaceX, offering better liquidity but carrying a discount risk). Each approach has its pros and cons, and investors should carefully choose based on their own circumstances.
For individual investors interested in investing in SpaceX, the company appears to want to lower the barriers to entry. Bret Johnsen, SpaceX’s Chief Financial Officer, told a team of bankers this April that retail investors will be a key component of this IPO, more important than in any IPO in history. It is reported that Elon Musk hopes to allocate as much as 30% of shares to smaller investors, whereas most companies typically reserve only 5% to 10% of their shares for retail investors.
For investors unwilling to wait until the summer of 2026 to invest, there are already two investment vehicles that can provide early exposure to SpaceX.
The first is the Cosmos Fund, launched by SoFi Technologies (SOFI) in partnership with Templum. This fund is entirely focused on SpaceX but has relatively strict eligibility requirements. The initial offering period has passed, and in addition to meeting accredited investor requirements based on income and asset levels, investors must also satisfy other stringent conditions. However, once successfully invested in the fund, investors gain 100% exposure to SpaceX shares.
The second way is through the ERShares Private-Public Crossover ETF (XOVR). This ETF is widely regarded as the easiest and most direct way to gain exposure to SpaceX shares. According to the latest data, 23.49% of the ETF’s portfolio is invested in SpaceX, with these shares held through a special purpose vehicle (SPV). SpaceX is by far the largest holding in this ETF, while the rest of the portfolio is primarily composed of technology and artificial intelligence stocks, including Nvidia (NVDA), Meta Platforms (META), and Alphabet (GOOG).
