The upcoming SpaceX IPO has been generating plenty of coverage over the last month.
After years of speculation about an initial public offering (IPO), SpaceX shares are expected to start trading on the Nasdaq stock exchange on June 12.
This announcement has been impacting markets already, with Betashares announcing the very first ASX-listed space-themed ETF last month.
The BetaShares Space Industry ETF (ASX: RCKT) took off with a bang, rising 30% in its first two weeks of trading, before coming back down to earth quickly.
You can read more about the Betashares fund here.
Now, the team at Global X has announced its own space-themed ASX ETF, which will trade under the name: Global X Space Tech ETF (ASX: MOON).
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Fund overview
According to the ETF provider, the Global X Space Tech ETF gives investors exposure to companies across this ecosystem, including:
- Rocket launch and reusable systems
- Satellite infrastructure and components
- Communication, data, and geospatial services
- Space exploration and emerging applications
Importantly, companies must generate at least 50% of their revenue from space-related activities, meaning space is core to their business, not just a side project.
According to Global X, space is shifting from exploration to commercialisation.
As costs fall and infrastructure scales, it has the potential to become a foundational layer of the global economy, much like the internet did over the past few decades.
The Global X Space Tech ETF offers:
- Exposure to companies across the space value chain
- A mix of established players and emerging innovators
- A way to invest in the broader ecosystem, rather than picking individual stocks
At the time of writing, no official launch date has been announced for the new space-themed ASX ETF.
Why satellites matter
According to the Global X report, more than half of today's space economy is tied to satellites. The industry is shifting from single satellites to large networks (often called constellations) in Low Earth Orbit, the region of space closest to Earth.
These satellite networks support everyday services such as:
- Broadband internet (e.g. satellite internet services)
- GPS navigation on your phone
- Weather forecasting
- Logistics and supply chain tracking
- Secure communications for governments and defence.
As these networks grow, business models are shifting from one-off sales to recurring revenue services. For example, satellite broadband alone could grow from about US$22 billion in 2025 to US$100 billion by 2035.
Looking ahead
Global X believes that as space becomes more important for national security, this spending is expected to remain strong.
By 2034, the global space market could surpass US$1 trillion in annual revenues. Key growth areas including launch services, connectivity, and data are expected to grow faster than the overall market.
Government demand also plays a major role. Global government space spending reached US$137 billion in 2025, while defence-related spending accounted for US$73 billion.
