Now that the initial public offering (IPO) of Elon Musk's Space Exploration Technologies Corp (NASDAQ: SPCX) is complete and bedded down, investors all over the world have a myriad of options at their disposal if they wish to invest in this ambitious company. Yes, SpaceX stock has, at least as of the time of writing, come off the boil a little. Even so, this company remains a behemoth on the world stage, commanding a market capitalisation of US$1.91 trillion.
For an investor wishing to get themselves a slice of this company, the most direct way remains buying SpaceX stock themselves. Yes, SpaceX is listed on the American NASDAQ exchange and is thus not available for purchase on the ASX. However, it has arguably never been easier to open a US brokerage account from Australia and put some shares against a name.
Even if an investor isn't comfortable with owning a US stock directly, there are locally-based options. These essentially boil down to owning an exchange-traded fund (ETF) that, in turn, owns SpaceX shares. That allows ASX investors to indirectly invest in SpaceX without having to buy US dollars or open an international brokerage account.
But which ASX ETF to pick? Well, SpaceX shares haven't qualified for many international index funds just yet. For instance, the company hasn't yet made the cut for either the iShares S&P 500 ETF (ASX: IVV) or the BetaShares Nasdaq 100 ETF (ASX: NDQ). It probably will with time, albeit as one relatively small holding among many.
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Two ASX ETFs to buy for SpaceX stock
However, some ASX ETFs of the thematic persuasion haven't wasted any time in buying SpaceX stock. These ETFs are giving the company a lot of real estate.
If that sounds appealing to investors, the first port of call may be the BetaShares Space Industry ETF (ASX: RCKT). This ETF was launched back in May. Although it didn't invest in SpaceX until the IPO, today, the company commands a whopping 26.8% of RCKT's entire portfolio. That means more than one in every four dollars invested in this fund finds its way to SpaceX stock.
The other option for ASX investors seeking a substantial but local SpaceX investment is the Global X Space Tech ETF (ASX: MOON). This ETF has just over a month of ASX life to its name. Saying that, MOON's portfolio is dominated by SpaceX stock as well. Space Exploration Technologies Corp makes up 26.7% of the ETF's entire weighted portfolio.
Thus, there are a few options for ASX investors who may like to own some SpaceX stock today.
