SpaceX's epic IPO plan makes obscure ETFs the focus
As investors seek to enter before SpaceX goes public, the niche ETF - ERShares Private-Public Crossover ETF (XOVR) has attracted over $470 million in funds since December 8. This ETF holds a small amount of SpaceX shares through a special purpose vehicle (SPV), making it potentially the only U.S. listed ETF with a position in the company. With a significant influx of funds, the proportion of SpaceX held by the ETF has been diluted to about 4% of total assets, and its book valuation is only $185 per share, far below the recent secondary market prices
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