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.

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.

The post SpaceX stock: Which ASX ETF buys you the most? appeared first on The Motley Fool Australia.

Shares were issued at US$135 before listing on 12 June, and the stock climbed well above US$200, pushing the valuation above US$2 trillion.

Since then, SpaceX shares have come back down to earth. Although, the company was then fast-tracked into the NASDAQ-100 Index (NASDAQ: NDX) in early July, approximately 15 trading days after listing.

Analysts remain bullish.

For ASX investors, that matters more than most realise, because a large number of Australians now own a piece of SpaceX without having made any decision to buy it.

Reasons to remain bullish on SpaceX shares

The core of the bull case is Starlink.

According to SpaceX's S-1 filing with the SEC, the Starlink connectivity segment generated US$11.4 billion in revenue in 2025. The segment delivered US$4.4 billion in operating income, representing year-on-year growth of 49.8% and 120.4%, respectively.

Starlink served 10.3 million subscribers across 164 countries as at 31 March 2026, up from just 2.3 million in 2023.

This is a business growing at extraordinary speed with a defensible moat. Launching a satellite constellation of that scale requires launch capability that almost no competitor possesses.

The Nasdaq-100 inclusion added a further mechanical tailwind. This will force index-tracking funds worldwide to buy SpaceX regardless of any individual portfolio manager's view on valuation.

Betashares Space Industry ETF

The Betashares Space Industry ETF (ASX: RCKT) is the most direct ASX exposure.

SpaceX has already been included in RCKT following the fund's fast-track inclusion feature. This allowed it to enter the Solactive Space Industry Index far more quickly than standard timelines would permit.

SpaceX now accounts for approximately 27% of the RCKT portfolio, making it the fund's single-largest holding by a wide margin.

That concentration deserves a closer look. RCKT is no longer a diversified space economy fund in any meaningful sense.

It is now, in effect, a SpaceX fund with 28 other holdings attached, and its performance will be dominated by what SPCX does from here.

Betashares Nasdaq 100 ETF

The Betashares Nasdaq 100 ETF (ASX: NDQ) is where most Australians now own SpaceX without having chosen to.

NDQ is one of the most widely held ETFs in Australia, and SpaceX's Nasdaq-100 inclusion means every NDQ holder automatically gained SpaceX exposure when the index inclusion took effect.

The same applies to holders of the Vanguard MSCI International Shares ETF (ASX: VGS) and the iShares S&P 500 ETF (ASX: IVV). What's more, the millions of Australians whose superannuation funds hold international shares benchmarked against major US indices have also gained exposure.

For most investors, that exposure will be small relative to the overall portfolio.

But it exists, automatically, without any further action required.

The risk worth understanding for SpaceX shares

SpaceX is not a conventionally profitable company.

The company posted a GAAP net loss of US$4.94 billion in 2025, driven by losses in the xAI and Space divisions that offset Starlink's profitability.

A company trading above US$2 trillion with significant GAAP losses is a demanding proposition, even for investors genuinely excited by the long-term opportunity.

The mechanical index buying that has supported the share price since listing was a one-time event, not a permanent support mechanism.

Furthermore, SpaceX bonds issued shortly after the IPO have reportedly sold off to levels comparable with junk-rated borrowers.

This is despite investment-grade ratings, a warning sign that the debt market is less enthusiastic than the equity market.

Foolish Takeaway for SpaceX shares

Analysts remain bullish on SpaceX shares, and Starlink's growth justifies significant optimism.

But for ASX investors, the more important point is that ownership of SpaceX is now largely automatic rather than chosen.

RCKT holders own it heavily, at around 26% of the fund.

NDQ, VGS, and IVV holders own it passively.

Understanding how much exposure you actually have to SpaceX is perhaps a more useful exercise than debating whether to buy it.

The post Analysts are still bullish on SpaceX shares after Nasdaq inclusion. Here is what that means for ASX investors appeared first on The Motley Fool Australia.

Space Exploration Technologies Corp (NASDAQ: SPCX) is expected to be included in the Nasdaq-100 index this week, less than a month after its 12 June listing.

The inclusion is driven by the Nasdaq-100's fast-track rules for extraordinarily large listings. This allows a company to be added to the index far more quickly than the standard schedule if its market cap is large enough to justify it.

SpaceX, now trading at US$160 per share at a valuation exceeding US$2 trillion, clearly meets that threshold.

For Australian investors, the implications are more direct than many realise.

What Nasdaq-100 inclusion actually means

The Nasdaq-100 is not just a list of large technology companies. Instead, it is the benchmark that underpins hundreds of billions of dollars in index-tracking funds and ETFs around the world.

When SpaceX joins that index, every fund that tracks the Nasdaq-100 must buy SpaceX shares, mechanically and at scale, regardless of what any portfolio manager thinks of the company's valuation.

Estimates suggest between US$22 billion and US$27 billion in mechanical index buying will be required across QQQ and Russell 1000 trackers once the inclusion becomes effective.

What inclusion means for NDQ holders

The most direct impact for Australian retail investors is felt through the Betashares Nasdaq 100 ETF (ASX: NDQ). NDQ is one of the most widely held ETFs in Australia.

Anyone who owns NDQ, or other ASX-listed US-focused ETFs including the Vanguard MSCI Index International Shares ETF (ASX: VGS) and the iShares S&P 500 ETF (ASX: IVV), will own SpaceX shares once the inclusion is effective.

That happens automatically, without the investor needing to do anything.

For investors who want Nasdaq-100 exposure and are comfortable with SpaceX as a holding, NDQ remains the simplest and most liquid way to access that index from the ASX.

For investors who are concerned about SpaceX's valuation or its GAAP losses, it is worth noting that the inclusion means they will own SpaceX whether they want to or not.

What inclusion means for RCKT holders

For the Betashares Space Industry ETF (ASX: RCKT), index inclusion has come even faster.

SpaceX has already been included in RCKT following the fund's fast-track inclusion feature. This allowed SpaceX to enter the Solactive Space Industry Index far more quickly than standard timelines would normally permit.

SpaceX now represents 25.9% of the RCKT portfolio, making it the fund's single largest holding by a wide margin.

That means RCKT holders already own a meaningful and direct slice of SpaceX, alongside the fund's 28 other holdings across the global space economy. Rocket Lab and AST SpaceMobile remain as the next two largest positions.

For investors who want concentrated and thematic exposure to the space economy, RCKT now offers something NDQ cannot: a dedicated space fund with SpaceX as its dominant holding.

The trade-off remains that RCKT is a smaller, less liquid fund with a higher management fee of 0.57% per annum compared to NDQ's 0.22%.

What inclusion means for superannuation investors

Beyond direct ETF holdings, the Nasdaq-100 inclusion has implications for the millions of Australians whose superannuation funds allocate to international shares.

The vast majority of Australian super funds allocate a large portion of their international shares exposure to US equities. Those allocations typically include the largest companies in the US market.

Once SpaceX is in the Nasdaq-100, it becomes a holding in most institutional portfolios that benchmark against that index.

For most superannuation members, that exposure will be small relative to the overall portfolio. But it will exist, automatically, without any action required.

The risk worth understanding

SpaceX is not a conventionally profitable company.

The company posted a GAAP net loss of US$4.94 billion in 2025. This was driven by losses in the xAI and Space divisions that offset the Starlink connectivity business's profitability.

A company trading at US$2 trillion with significant GAAP losses is a demanding proposition even for investors who are excited about the long-term Starlink and space economy opportunity.

Nasdaq-100 inclusion forces index-tracking funds to own it regardless.

Foolish takeaway

SpaceX joins the Nasdaq-100 this week. Millions of Australian investors will automatically own a piece of the world's most valuable space company through their ETFs and super funds.

For both RCKT and NDQ holders, exposure arrives without any further action required.

Whether SpaceX at US$2 trillion is a good investment is a separate question.

The post SpaceX will be included in the Nasdaq index this week. Here's what that means for ASX investors appeared first on The Motley Fool Australia.

Shares were issued at US$135 before beginning trade on the Nasdaq last Friday, closing their first session at US$160.95 before finishing Tuesday at US$201.80.

That leaves Space Exploration Technologies Corp (NASDAQ: SPCX) shares well above the IPO price after just four trading sessions.

Australian investors cannot buy SpaceX directly on the ASX. But two ASX-listed options may benefit directly from this momentum.

Why SpaceX's rally matters for ASX investors

Australian mining billionaire Gina Rinehart secured more than US$1 billion worth of SpaceX shares through Hancock Prospecting during the IPO.

That stake has already generated a significant paper profit million in under a week.

Rinehart described the investment as betting that the company "could become a major driver of demand for critical minerals and off-Earth infrastructure."

That scale of return, on that scale of investment, in that short a window, has put SpaceX firmly back in the spotlight for Australian investors searching for a way in.

Betashares Space Industry ETF (ASX: RCKT)

The Betashares Space Industry ETF is the most direct ASX-listed way to gain exposure to the rally.

SpaceX is likely soon to be included in RCKT thanks to the fund's fast-track inclusion feature. This would allow Australian investors to gain direct allocation to SpaceX through a single ASX trade.

RCKT already holds 28 companies across the global space economy, including Rocket Lab and AST SpaceMobile. Both of these have rallied alongside SpaceX as investor enthusiasm for the sector broadens.

RCKT launched at $14 per unit on 12 May 2026 and has had a volatile ride in the month since listing. This was largely due to the anticipation built ahead of the SpaceX listing.

With SpaceX up significantly since debut, the case for RCKT's eventual SpaceX inclusion has only strengthened.

Electro Optic Systems Holdings Ltd (ASX: EOS)

Electro Optic Systems Holdings (EOS) offers a different way to participate in the space economy momentum that SpaceX's rally has generated.

EOS operates a dedicated Space Systems division providing laser tracking and communications technology for satellite operators globally.

As the Starlink constellation grows toward the 42,000 satellites the company has regulatory approval to eventually deploy, the demand for precision ground infrastructure of the kind EOS provides continues to grow alongside it.

EOS chair Garry Hounsell confirmed at the company's AGM that 60% to 80% of its $726 million order book is expected to convert to revenue in 2026 and 2027. This has provided a solid earnings base independent of SpaceX-driven sentiment.

The risk worth remembering

SpaceX's current valuation leaves very little room for disappointment. The company has already pushed past US$2 trillion within hours of opening.

Hot IPOs often fail to outperform the market in their first few years as public companies, and a sharp pullback in SpaceX shares could quickly cool sentiment across RCKT and EOS as well.

Both stocks remain volatile and should be sized accordingly.

Foolish takeaway

SpaceX shares are up significantly. Australian investors cannot buy SpaceX directly, but RCKT ETF offers the closest ASX-listed proxy, with potential direct SpaceX inclusion on the horizon.

EOS on the other hand, provides exposure to the infrastructure growth that a larger Starlink constellation continues to demand.

For investors who believe the space economy momentum has further to run, both deserve a place on the watchlist.

The post SpaceX climbs nearly 20% after its IPO. Here's why that is good news for these ASX shares appeared first on The Motley Fool Australia.

It was the largest IPO in stock market history. And it is just the beginning.

Anthropic is targeting a December 2026 public debut at a forecast first-day market cap of approximately US$1.1 trillion, according to the most current forecasts.

OpenAI, which filed its own confidential S-1 earlier this month, is expected to follow in early 2027 at a comparable valuation.

Together, SpaceX, Anthropic, and OpenAI represent a combined public market value approaching US$4 trillion.

For Australian investors who cannot buy any of these stocks on the ASX, the question is what it means for the companies they can buy.

Why these IPOs matter for ASX investors

The most important consequence of trillion-dollar AI IPOs is not the immediate share price movement in SPCX, Anthropic, or OpenAI.

It is the reallocation of institutional capital that follows.

When capital flows into public AI companies at these valuations, attention and money flow toward every company in the AI infrastructure supply chain, including those listed on the ASX.

The AI thesis is being publicly validated at a scale never seen before.

Three ASX stocks sit directly in the path of that validation.

Betashares Space Industry ETF (ASX: RCKT)

The Betashares Space Industry ETF is already living proof of the thesis.

The fund launched at $14 per unit on 12 May 2026, well before SpaceX listed. It surged approximately 30% in the weeks leading up to the SpaceX IPO as anticipation built.

This served to demonstrate how powerfully public AI IPOs move adjacent listed markets.

RCKT holds 28 companies across the global space economy, with Rocket Lab and AST SpaceMobile as its two largest positions.

SpaceX itself will take time to enter the index, but the attention the listing generates flows directly into RCKT's holdings.

As Anthropic and OpenAI approach their own listings later this year and in 2027, the same dynamic will play out across AI infrastructure stocks globally.

For ASX investors, RCKT captures that excitement in a single trade.

NextDC Ltd (ASX: NXT)

NextDC is Australia's largest independent data centre operator and has the most direct relationship with the AI IPO wave of any ASX company.

OpenAI is NextDC's foundational customer for its US$7 billion AI data centre campus in Western Sydney.

When OpenAI lists publicly at close to US$1 trillion, that customer relationship may be permanently reframed.

NextDC has already raised its FY 2026 capital expenditure guidance to between $2.7 billion and $3.0 billion as contracted utilisation surged 60% in the March quarter.

Morgans carries a buy rating on NextDC with a $19 price target, implying upside of approximately 36% from current levels.

Macquarie Technology Group Ltd (ASX: MAQ)

Macquarie Technology Group plays a different but equally important role.

Anthropic's Claude platform is already being deployed by Australian government agencies and critical infrastructure operators who cannot use offshore AI infrastructure.

Anthropic's annualised revenue reportedly crossed $47 billion in May 2026, and the company is on track to post its first operating profit in Q2 2026.

As Anthropic's public listing raises its enterprise profile globally, the demand for sovereign Australian AI infrastructure will only grow.

Macquarie Technology is the primary beneficiary of that demand, backed by a $200 million National Reconstruction Fund investment and 20 consecutive half years of operating income growth.

Canaccord Genuity upgraded MAQ shares following the NRF investment, predicting significant upside from current levels.

The risks

History offers a clear warning about mega-cap IPOs.

According to Professor Jay Ritter's updated long-run IPO statistics, the average newly listed company underperforms its peers by approximately 8% per year over the five years following its debut.

If Anthropic or OpenAI disappoint in their early trading sessions, the repricing could weigh on AI infrastructure stocks.

Foolish Takeaway

SpaceX has listed. Anthropic targets December. OpenAI follows in 2027.

For ASX investors seeking exposure to the AI IPO wave without buying US-listed stocks, RCKT, NXT, and MAQ each offers a distinct way to participate.

The post After SpaceX, the Anthropic and OpenAI IPOs are next. Here is what ASX AI investors need to know appeared first on The Motley Fool Australia.

SpaceX shares were US$135 apiece at last Friday's IPO, and have already soared past $200 at the time of writing. 

That's a 25% rise in just a few days of trading. 

Is the hype justified?

Australians have long looked to US equities to build wealth. 

Many Aussies investors would have exposure to S&P 500 companies in their portfolio. 

The new SpaceX listing has generated plenty of headlines, but is it really a strong investment?

For investors looking for reasons to buy, SpaceX isn't hype built on nothing..

Starlink – its satellite internet division, generates substantial operating income of $4.4 billion at 39% margins. That's a real, profitable business inside the rocket company.

SpaceX also controls the majority of orbital launches globally and has a multi-year head start on competitors in reusable rockets. 

Starlink is already the world's largest satellite internet provider with millions of subscribers, including in regional Australia.

On the flip side, at a ~$2 trillion valuation against approximately $18.6 billion in 2025 revenue, SpaceX trades at almost 100 times trailing revenue. 

This dramatically exceeds the worlds largest companies like Nvidia Inc (NASDAQ: NVDA).

This means there is almost no margin for error and SpaceX investors are paying a premium. 

What are experts saying?

Experts seem cautious on the first 12 months of trading for the company. 

As my colleague Bronwyn Allen reported yesterday, the current share price already sits well above many price targets from brokers. 

Some of these targets are as low as $115 per share. 

The honest truth is that both things can be true at the same time:

• Analysts are probably right that the stock is fundamentally overvalued today
• The stock could still double from here before it ever corrects. 

How can investors gain exposure?

Many brokers and platforms now allow Australians to buy and sell US stocks. 

However there are some other options to hedge against some risk. 

For example, SpaceX is likely soon to be included in the Betashares Space Industry ETF (ASX: RCKT) thanks to the fast-track feature.

This could allow investors to have more diversified exposure to the sector, while including some allocation to SpaceX. 

Another space themed ETF that just became available is the Global X Space Tech ETF (ASX: MOON), which is also could include SpaceX at some stage. 

The post SpaceX shares are rocketing – how can Aussie investors get exposure? appeared first on The Motley Fool Australia.

The initial public offering (IPO) of SpaceX has been the talk of the investing town over the past few months. Even in Australia, investors have seemingly been keen, as we've documented, to get amongst the hype.

Although SpaceX is scheduled to list on the American NASDAQ exchange, Australians have been given unprecedented access to the IPO, with CommSec offering investors the chance to directly participate.

But of course, many ASX investors will not be comfortable owning SpaceX shares directly. Holding an asset outside our local stock market, and in US dollars, can be daunting. Perhaps to get ahead of this, the past few months have seen more than one new ASX exchange-traded fund (ETF) that specialises in space stocks sprout.

Space ETFs flood the ASX amid SpaceX IPO

A few weeks ago, we checked out the launch (forgive the pun) of the BetaShares Space Industry ETF (ASX: RCKT). And, just a few days ago, ETF provider Global X (no relation to SpaceX) debuted its Global X Space Tech ETF (ASX: MOON).

Both of these funds offer investors indirect access to some of the leading space companies of the world. Of course, they don't feature SpaceX yet, as the company is just now making its stock market entrance.

But it is almost certain that SpaceX will find itself in both of these ETFs' portfolios in the very immediate future. In fact, it does not strain credulity to posit that the IPO of SpaceX is in fact the very reason for the birth of these funds in 2026.

So, if you want to invest in SpaceX, but aren't comfortable with buying a US stock, is one of these ETFs a good alternative?

Well, in my view, yes. If you wish to be exposed to SpaceX, as well as other leading companies in the space industry, either RCKT or MOON would fill the role nicely.

Foolish Takeaway

However, a word of caution. As we've previously discussed, SpaceX can arguably be described as a speculative investment. The market capitalisation it is aiming for (US$1.77 trillion) is a long way from its revenues last year of US$18.7 billion, and even further from the operating loss of UD$4.2 billion that it recorded.

Space is clearly the hype sector of the month, and many investors are pouring in their dollars in the literal hope things will go to the moon. Hype bubbles tend to pop eventually, though, and investors eventually turn to profits as an indicator of value, rather than lofty plans. If that happens, investors in a space ETF are highly exposed. As such, I would argue that investors should think twice before betting the farm on SpaceX or any of these space-themed ETFs.

The post SpaceX IPO: Should you buy an ASX space ETF to cash in? appeared first on The Motley Fool Australia.

SpaceX begins trading on the Nasdaq under the ticker SPCX, priced at US$135 per share implying a valuation of approximately US$1.75 trillion.

That surpasses Saudi Aramco's 2019 listing as the largest IPO in stock market history.

Australian investors cannot buy SPCX directly on the ASX.

But two ASX-listed stocks are already moving in direct response to today's listing, and both deserve consideration from ASX investors.

Why the SpaceX IPO matters for ASX investors

SpaceX is not just a rocket company.

It's Starlink connectivity segment generated US$11.4 billion in revenue in 2025, delivering US$4.4 billion in operating income. This represents year-on-year growth of 49.8% and 120.4% respectively.

Starlink serves 10.3 million subscribers across 164 countries as at 31 March 2026, up from just 2.3 million in 2023.

The IPO validates the commercial space economy for ASX investors.

Near-term index mechanics add a further dimension to the story. SpaceX is expected to be fast-tracked into the Nasdaq-100 as early as 15 trading days post-listing.

This would force index-tracking funds to buy SpaceX mechanically and generate an estimated US$22 billion to US$27 billion in additional buying pressure across index trackers.

That wave of forced buying will keep the space economy in the spotlight for weeks.

Betashares Space Industry ETF (ASX: RCKT)

The Betashares Space Industry ETF is the most direct ASX play on today's listing.

Betashares Space Industry ETF tracks the Solactive Space Industry Index, holding 28 companies across the global space economy with Rocket Lab and AST SpaceMobile as its two largest positions.

Betashares Space Industry ETF launched on the ASX on 12 May 2026 at $14 per unit and has had a wild ride as SpaceX IPO anticipation built throughout May and June.

SpaceX will need to meet index inclusion criteria before Betashares Space Industry ETF can formally hold SpaceX, a process that typically takes several months.

In the meantime, Betashares Space Industry ETF remains the most liquid and accessible ASX way to participate in today's historic event.

The underlying Solactive Space Industry Index returned 249% over the twelve months to 31 May 2026.

Electro Optic Systems Holdings Ltd (ASX: EOS)

Electro Optic Systems offers a different and more direct angle on the SpaceX story.

The company operates a dedicated Space Systems division that provides laser tracking and communications technology for satellite operators globally.

SpaceX has filed applications to deploy up to 42,000 Starlink satellites in total. This means that the constellation will require increasingly sophisticated ground-based tracking and communications infrastructure as the satellite count grows.

Electro Optic Systems is one of the very few companies in the world capable of providing that precision ground infrastructure.

Electro Optic Systems chair Garry Hounsell confirmed at the AGM that 60% to 80% of its $726 million order book is expected to convert to revenue in 2026 and 2027. This has removed the execution uncertainty that had previously weighed on the stock.

The index inclusion wildcard

One of the most underappreciated dimensions of today's SpaceX listing is its potential impact on the Nasdaq-100.

If SpaceX is included, every fund tracking the Nasdaq-100, including the Betashares Nasdaq 100 ETF (ASX: NDQ), would need to buy SpaceX shares mechanically.

Nsdaq 100 ETF is one of the most widely held ASX ETFs among Australian retail investors, meaning holders of Nasdaq 100 could gain indirect SpaceX exposure without doing anything at all.

Foolish takeaway

The SpaceX IPO will be live today.

However, Australian investors cannot buy SpaceX on the ASX today. Yet Betashares Space Industry ETF and Electro Optic Systems each offer a distinct way to participate in the moment that commercial space investing went mainstream.

For long-term investors who believe the space economy has decades of growth ahead, both deserve serious attention.

The post SpaceX starts trading today. Here's what ASX investors need to know appeared first on The Motley Fool Australia.

Many of these funds now focus on niche themes or sectors, aiming to capture gains in fast growing industries. 

The SpaceX IPO has made plenty of headlines, and also influenced the creation of two new space themed ASX ETFs. 

The pros and cons of thematic ASX ETFs

While this provides an exciting opportunity, the challenge for investors is identifying which themes and funds are targeting sectors poised for long term growth, rather than a short-lived burst of investor interest.  

There have been plenty of examples of themes seemingly poised for growth, fizzling out quickly. 

Examples include 3D printing companies in the 2010s, legalised cannabis in certain countries and more recently buy-now-pay-later stocks. 

These niche themes captured plenty of attention for a short period of time alongside real financial investment. 

However time has shown that these were short term crazes rather than long term opportunities. 

On the other hand, themes such as the internet, cloud computing and smartphones all grew from emerging trends into long-term, vital industries. 

What investors should consider

For investors considering emerging themes, some key considerations include: 

• If the theme addresses or solves a problem
• How large could the end market could realistically become
• If the theme will still matter in 10-20 years
• If the underlying companies are already priced for perfection. 

With these considerations in mind, let's look at the new theme generating excitement – space. 

Space ASX ETFs

The SpaceX IPO has generated extensive coverage all over the world. 

Interest in this sector has resulted in two new space themed ASX ETFs to hit the market: 

• Betashares Space Industry ETF (ASX: RCKT)
• Global X Space Tech ETF (ASX: MOON). 

RCKT ETF focuses on companies whose core businesses are directly tied to the space economy. This includes rocket launches, satellite operators, space infrastructure and space-related data services. 

It is designed to give investors concentrated exposure to the commercialisation of space. It also includes a fast-track mechanism for adding new space IPOs. 

MOON ETF on the other hand, invests across the wider space technology ecosystem, including launch systems, satellite infrastructure, communications networks and geospatial data businesses. 

This may result in exposure to a broader range of technology companies that benefit from space-related growth, rather than only pure-play space operators

Are they worth investing in?

Space-themed ETFs such as RCKT and MOON offer investors exposure to what could become one of the world's next major growth industries. 

As satellite networks, space-based communications, Earth observation technologies and commercial space exploration continue to develop, companies operating in these areas could benefit from decades of investment and innovation. 

However, the sector also carries significant risks. 

Many space-related businesses are still in the early stages of commercialisation, meaning profitability can be uncertain and valuations can be heavily influenced by investor sentiment. 

The industry's growth also depends on technological breakthroughs, government spending and regulatory support, which can create periods of volatility. 

As a result, space ETFs have the potential to deliver strong long-term returns if the industry fulfils its promise, but investors should be prepared for a potentially bumpy ride along the way.

The post Are space ASX ETFs the next big growth opportunity or overhyped? appeared first on The Motley Fool Australia.

SpaceX (NASDAQ: SPCX) prices its shares tomorrow, 11 June 2026, at US$135 per share, implying a valuation of approximately US$1.75 trillion, and begins trading on the Nasdaq under the ticker SPCX on Thursday, 12 June.

That would make it the largest IPO in stock market history, surpassing Saudi Aramco's US$1.7 trillion listing in 2019.

Anthropic, the AI company behind the Claude platform, has filed confidentially with the SEC at a reported valuation of approximately US$900 billion, targeting a public debut as soon as October.

And just this week, OpenAI also filed confidentially for an IPO, with the combined three-company valuation potentially exceeding US$3.6 trillion.

None of these companies will be available on the ASX. But all three will reshape how the market thinks about AI stocks, including the ones that are available here.

Why these IPOs change everything for ASX AI shares

For the first time, the world's most important AI infrastructure companies are being given public market price tags.

That is important for ASX investors for two reasons.

First, successful listings at these valuations validate the entire AI investment thesis at a scale that no private funding round has ever achieved.

Second, the capital flows these IPOs generate will not stay in the United States.

Institutional investors across Asia-Pacific, including Australia's own superannuation funds, will look to rebalance AI exposure following the listings.

This rebalancing will direct fresh attention and capital toward ASX-listed AI infrastructure plays.

Three in particular stand out.

Betashares Space Industry ETF (ASX: RCKT)

The most direct ASX beneficiary of the SpaceX listing is the Betashares Space Industry ETF, which launched on 12 May 2026.

The ETF has had a wild ride as SpaceX anticipation built throughout the month.

RCKT tracks the Solactive Space Industry Index, holding 28 companies across the global space economy with Rocket Lab and AST SpaceMobile as its two largest positions.

SpaceX will need to meet index inclusion criteria before RCKT can formally hold it, a process that typically takes several months.

In the meantime, RCKT remains the clearest and most liquid ASX proxy for investor excitement around the space economy that SpaceX is bringing.

NextDC Ltd (ASX: NXT)

NextDC is Australia's largest independent data centre operator.

The company is building a $7 billion AI data centre campus in Western Sydney with OpenAI as its foundational customer.

Now that OpenAI has filed for its own IPO, that customer relationship takes on new significance.

For context, Anthropic is paying SpaceX's xAI division US$1.25 billion per month for exclusive compute access. This illustrates just how voracious AI companies' appetite for data centre capacity has become.

Every dollar an AI company spends on compute creates demand for the infrastructure NextDC provides.

Perhaps as a result, NextDC raised its FY 2026 capital expenditure guidance to between $2.7 billion and $3.0 billion as contracted utilisation surged 60% in the March quarter.

Macquarie Technology Group Ltd (ASX: MAQ)

Macquarie Technology plays a different but equally important role in the AI IPO story.

Anthropic's Claude platform is increasingly being adopted by Australian government agencies, financial institutions, and critical infrastructure operators.

Many of these organisations cannot use offshore AI infrastructure for data sovereignty reasons.

This has created a captive market for Macquarie Technology, which provides sovereign cloud and AI infrastructure backed by a $200 million National Reconstruction Fund investment.

As Anthropic's public listing raises its enterprise profile globally, the demand for sovereign Australian AI infrastructure will only grow.

The risk worth acknowledging for ASX AI shares

History offers a warning.

Of the five largest IPOs in modern history, only Visa significantly outperformed markets after listing.

On the other end, Saudi Aramco still trades below its issue price.

If SpaceX disappoints in its first weeks of trading, the repricing conversation that follows would weigh on AI stocks globally, including the RCKT ETF, NextDC, and Macquarie Technology.

Foolish Takeaway

SpaceX prices tomorrow, Anthropic is months away from listing, and OpenAI just filed.

For ASX investors who want exposure to the AI IPO wave without buying US-listed stocks, the RCKT ETF, NextDC, and Macquarie Technology offer three unique ways to participate.

The post The SpaceX and Anthropic IPOs will massively impact ASX AI shares appeared first on The Motley Fool Australia.

Trading on the open market is anticipated to start in late June under the ticker SPCX.

The company is targeting a valuation of between US$1.7 trillion and US$2 trillion.

If it prices anywhere near that range, the deal would surpass Saudi Aramco's 2019 listing as the largest IPO in history by a wide margin.

Goldman Sachs is leading the deal, and retail investors are earmarked for 30% of the float, three times the standard mega-cap norm.

For Australian investors, unfortunately, SpaceX will not be available on the ASX.

The question for ASX investors is how to participate in the excitement the SpaceX IPO is generating from within the Australian market.

Two options stand out.

The SpaceX S-1: what the numbers actually show

Before diving into the ASX plays, it is worth understanding what SpaceX has disclosed about its own finances.

SpaceX generated $18.7 billion in total revenue for full-year 2025, up 33% year-on-year, with Starlink contributing $11.4 billion, or 61% of total revenue.

On an adjusted EBITDA basis, the company reported $6.6 billion in profit for 2025, however SpaceX posted a GAAP net loss of $4.94 billion for full-year 2025. This was driven by stock-based compensation, depreciation on the Starlink constellation, and AI infrastructure capex.

In Q1 2026, that trend accelerated with a net loss of $4.28 billion in a single quarter alone. That is an important caveat for investors who will be tempted to buy SPCX on day one.

SpaceX is a remarkable and transformative business but is not yet a conventionally profitable one.

That makes the two ASX alternatives potentially more attractive on a risk-adjusted basis.

Betashares Space Industry ETF (ASX: RCKT)

The Betashares Space Industry ETF is the most accessible way for Australian investors to participate in the SpaceX IPO excitement without buying SpaceX directly.

RCKT units floated at $14 on 12 May 2026 and have gained approximately 12% since launch. The underlying Solactive Space Industry Index has returned 249% over the twelve months to 31 May 2026.

RCKT tracks the Solactive Space Industry Index, which holds 28 companies across the global space economy, with its two largest positions being Rocket Lab USA and AST SpaceMobile at 12.6% each.

Rocket Lab has risen significantly over twelve months and AST SpaceMobile has surged on confirmation of its first commercial satellite communications service with major US carriers.

Importantly for ASX investors, SpaceX would need to meet index inclusion criteria after listing before RCKT could hold it, a process that could take months.

However, as the roadshow generates headlines this week and next, RCKT is likely to keep attracting investor attention.

Electro Optic Systems Holdings Ltd (ASX: EOS)

The second ASX option is less obvious but equally interesting.

Electro Optic Systems Holdings is primarily known as a defence stock. The stock having risen approximately 550% over the past twelve months on the back of a record contract pipeline in counter-drone and directed energy systems.

What fewer investors appreciate is that EOS also operates a dedicated Space Systems division. This division provides laser tracking and communications technology for satellite operators around the world.

At its AGM, EOS chair Garry Hounsell confirmed the company's turnaround phase is now complete and that 60% to 80% of its $726 million order book is expected to convert to revenue in 2026 and 2027.

SpaceX's Starlink constellation now has more than 10,300 satellites in orbit. Moreover, the company has filed applications to deploy up to 42,000 in total.

Every satellite launched creates demand for the precision tracking and communications infrastructure that EOS provides through its Space Systems division.

As the SpaceX IPO draws global attention to the space economy, EOS offers Australian investors a way to participate that is backed by contracted revenue rather than pre-IPO speculation.

The risks

Both RCKT and EOS carry meaningful risk.

RCKT's top holdings are pre-profit companies whose valuations reflect enormous future potential.

If the SpaceX IPO disappoints or the broader technology sector rotates lower, RCKT units could give back a significant portion of recent gains quickly.

EOS carries its own risks: contracts are lumpy, defence spending can be reprioritised, and the space division remains a small part of overall revenue.

Neither is suitable for investors who cannot tolerate volatility.

Foolish takeaway

The SpaceX IPO is coming soon, and the excitement is already moving markets.

Australian investors cannot buy SPCX directly on the ASX, but RCKT and EOS each offer a distinct way to participate in the space economy boom that SpaceX is generating.

For investors who believe the commercial space economy has years of growth ahead, both deserve a place on the watchlist.

The post The SpaceX IPO is coming. Here's how ASX investors can benefit from the excitement appeared first on The Motley Fool Australia.

ETF providers are consistently coming up with newly designed funds to track niche areas of the market. 

For examples of this, look no further than the recently listed Betashares Space Industry ETF (ASX: RCKT). 

After listing in mid-May, the fund has already rocketed (excuse the pun) 13%. 

However it wasn't the only thematic fund to perform well during May. 

Why target thematic ASX ETFs?

Thematic ASX ETFs can offer investors a simple way to back powerful long-term trends. 

Popular themes include artificial intelligence and cybersecurity to clean energy and biotech.

Rather than picking individual winners, investors gain exposure to a basket of companies positioned to benefit from a particular theme. 

This can help diversify and spread risk while capturing broad industry growth. 

These funds can also provide valuable insight into market sentiment, as strong inflows often signal growing investor confidence in a sector or economic trend. 

However, thematic investing is not without risks. 

Popular themes can become crowded, valuations may become detached from fundamentals, and trends that appear transformative today may fail to deliver the expected returns. 

With that in mind, here were three of the top performing funds during May. 

Global X Cybersecurity ETF (ASX: BUGG)

This ASX ETF was a market winner during the month of May. 

In the last four weeks, it has risen an astonishing 42%. 

The fund seeks to invest in companies that stand to benefit from the increased adoption of cybersecurity technology, particularly those whose principal business is in the development and management of security protocols preventing intrusion and attacks on systems, networks, applications, computers, and mobile devices.

At the time of writing, it is made up of roughly 28 holdings, with the majority based in the US. 

Global X China Tech ETF (ASX: DRGN)

Another high performing ASX ETF during May was the China focussed fund from Global X. 

It has risen more than 13% over the last 4 weeks, driven by semiconductor and AI tailwinds. 

The fund offers access to 20 leading Chinese technology companies listed in Hong Kong and Mainland. With a rules-based selection process across 15 core sectors including semiconductors, robotics, software, and internet platforms, DRGN captures China's strategic push into self-sufficient innovation.

Global X Semiconductor ETF (ASX: SEMI)

It has been a similar story for this Semiconductor focussed ASX ETF. 

It has risen by more than 25% in the last month. 

The fund seeks to invest in companies that stand to potentially benefit from the broader adoption of tech-enabled devices that require semiconductors. This includes the development and manufacturing of semiconductors.

The post What are the best performing thematic ASX ETFs right now? appeared first on The Motley Fool Australia.

Today it has one, and the Betashares Space Industry ETF (ASX: RCKT) has wasted no time making its presence felt.

RCKT units floated at $14 on 12 May 2026.

They now trade much higher, with a gain of approximately 30% in May 2026.

The primary force behind that extraordinary run can be summarised in one word: SpaceX.

What is driving the RCKT ETF higher

SpaceX is targeting a Nasdaq debut around 12 June 2026 under the ticker SPCX.

The company is aiming for a valuation of between US$1.7 trillion and US$2 trillion.

This would make it the largest stock market debut in history.

Every development in the SpaceX IPO process has sent the RCKT ETF higher, as investors use it as the most accessible proxy for the space economy available on the ASX.

RCKT tracks the Solactive Space Industry Index, which holds 28 companies across the global space economy.

Its two largest positions are Rocket Lab USA and AST SpaceMobile at 12.6% each.

Both have delivered extraordinary returns over the past year.

Rocket Lab has risen more than 440% over twelve months.

AST SpaceMobile has surged on confirmation of its first commercial satellite communications service with major US carriers.

The underlying Solactive Space Industry Index returned 249% over the twelve months to 31 May 2026.

This makes it one of the strongest performing thematic indices in the world.

What Betashares CEO said about the RCKT ETF

The timing of RCKT's launch was no accident.

Alex Vynokur, CEO of Betashares, said at launch:

Once driven primarily by government agencies, the space industry is increasingly shaped by commercial companies launching rockets, building satellite networks and providing critical data from orbit. With falling launch costs expanding what is commercially possible, and anticipated IPOs such as SpaceX's on the horizon, RCKT is designed to capture the range of opportunities emerging in the global space industry.

Furthermore, McKinsey and the World Economic Forum project that the global space economy could reach $1.8 trillion by 2035.

That long-term growth trajectory underpins the case for RCKT beyond the near-term SpaceX excitement.

Will RCKT hold SpaceX after the IPO?

This is the question every RCKT investor is asking.

The answer is: possibly, but not guaranteed, and not right away.

RCKT is designed to track the Solactive Space Industry Index, which has specific rules about index inclusion.

SpaceX would need to meet those criteria after listing before RCKT could hold it.

That process could take months.

In the meantime, investors using RCKT as a SpaceX proxy are buying the broader space economy rather than SpaceX directly.

That may actually be a better outcome.

SpaceX is expected to be priced at a demanding valuation at IPO, with Elon Musk aiming to allot up to 30% of shares to retail investors.

IPO day prices can reflect peak enthusiasm rather than fair value.

A diversified basket of space companies through RCKT provides exposure to the theme without the concentrated IPO risk.

The risks

The history of space investing includes spectacular failures alongside the successes.

Virign Galactic surged dramatically during the meme stock mania of 2021 before crashing more than 98% from its peak.

RCKT's top holdings, Rocket Lab and AST SpaceMobile, are both pre-profit companies whose valuations reflect enormous future potential.

If the SpaceX IPO disappoints or if the broader technology sector rotates lower, RCKT units could give back a significant portion of recent gains quickly.

The RCKT ETF charges a management fee of 0.57% per annum and does not yet have a distribution history, given its recent launch.

Foolish Takeaway

The RCKT ETF has delivered returns in three weeks that most funds take years to achieve.

The SpaceX IPO is the immediate catalyst, but the underlying strength of the space economy and the remarkable performance of its holdings suggest this is more than a single-event trade.

For investors comfortable with high volatility and a long time horizon, the RCKT ETF offers an accessible way to participate in what could be one of the defining investment themes of the next decade.

The post This ASX ETF has soared because of the upcoming SpaceX IPO appeared first on The Motley Fool Australia.

For years, many Australian investors have been spoilt for choice when it comes to banks, miners, healthcare, and infrastructure shares.

But let's be honest.

The S&P/ASX 200 Index (ASX: XJO) is not exactly overflowing with companies building reusable rockets, artificial intelligence models, or the next generation of space-based infrastructure.

That is why the looming public debuts of SpaceX, OpenAI, and Anthropic could be so fascinating for ASX investors.

These companies sit at the centre of some of the world's most powerful technology themes. SpaceX is pursuing reusable rocket technology, satellite internet, and long-term space ambitions. OpenAI and Anthropic are at the front of the artificial intelligence race.

For investors used to the familiar rhythms of the Australian market, that is a very different kind of growth story.

Yet, before getting swept up in the excitement, there is an important question to ask: Is buying into a blockbuster initial public offering really the best way to gain exposure?

The excitement is obvious

SpaceX is expected to be one of the most-watched IPOs in history if it proceeds.

The potential appeal is easy to understand. This is a business focused on self-landing rockets, Starlink satellite internet, and ambitious plans that stretch far beyond the typical corporate growth playbook.

The company's prospectus outlined three divisions: its rocket business, Starlink satellite internet, and artificial intelligence. Crucially, Starlink was the only profitable division at that stage, while the broader business was still loss-making.

For all the excitement, investors buying into a company like SpaceX would not simply be buying current profits. They would be buying a bold view of the future.

That can be powerful. But it can also be risky.

IPOs can be tricky for investors

Blockbuster IPOs often come with enormous hype. They can attract attention from retail investors, institutions, index funds, and thematic investors all at once.

However, IPO investing is not always straightforward.

One challenge is valuation. By the time a famous private company reaches public markets, much of the early value creation may already have occurred. Early investors, founders, employees, and private market backers may have acquired shares at far lower prices.

Once lock-up periods expire, some of those holders may look to sell shares and crystallise large gains. That selling pressure can weigh on a newly listed company's share price, even if the long-term story remains compelling.

That is one reason IPOs can sometimes fall after listing.

It does not necessarily mean the business is poor. It may simply mean the initial public market price left little room for error.

How ASX investors could gain exposure

Australian investors may have a few different paths to consider.

One option is direct participation if a US IPO includes an Australian retail offer. CommSec has been named as a lead Australian retail broker for the potential SpaceX IPO, with investors expected to require an international shares account.

Another option is to wait until the company lists and buy shares on the US market through an international trading account.

A third option is via listed vehicles that already hold exposure to these private companies.

One example is Pengana Private Equity Trust (ASX: PE1). The trust has exposure to SpaceX, OpenAI, and Anthropic through its private equity portfolio. Its SpaceX position has previously been described as one of the largest holdings in the portfolio.

That does not make PE1 a pure SpaceX investment. In fact, that may be the point. It offers exposure alongside a broader private equity portfolio, rather than relying solely on the success of a single newly listed company.

There is also thematic exposure. The recently launched Betashares Space Industry ETF (ASX: RCKT) is designed to provide exposure to the global space industry and may be able to include a major company like SpaceX quickly after listing, subject to index rules.

Foolish Takeaway

For ASX investors, the arrival of companies like SpaceX, OpenAI, and Anthropic on public markets could feel like a window into the next era of global innovation.

IPO prices can be demanding. Early shareholders may sell. Markets can overpay for the most popular stories. And even great companies can make poor investments if bought at the wrong price.

For long-term investors, the key may be to separate the dream from the deal.

Owning a company building rockets to Mars or intelligence systems for the future may sound extraordinary. But as always, valuation, business quality, time horizon, and portfolio risk still matter.

The post SpaceX IPO buzz grows as ASX investors eye global tech giants appeared first on The Motley Fool Australia.