Jun. 2 at 1:33 AM
$XOVR managed by ERShares, provides exposure to SpaceX by holding shares of the private company within its portfolio, which is a rare feature for an exchange-traded fund. Specifically, XOVR allocates a portion of its assets—currently around 11-12.3%—to SpaceX, making it the fund’s top holding. This is achieved through a special purpose vehicle or private market transactions, such as tender offers or secondary market purchases, allowing the ETF to acquire SpaceX shares despite the company being privately held. The rest of XOVR’s portfolio, over 85%, tracks the ER30TR Index, which focuses on entrepreneurial U.S. large-cap companies. This structure lets retail investors gain indirect exposure to SpaceX without needing to be accredited investors, offering daily liquidity and pricing close to net asset value (NAV). However, the exact details of how XOVR acquires these shares are not fully disclosed, and the valuation of private holdings like SpaceX can be complex - I’ll buy all I can.
