---
title: "The holding ratio of SpaceX in the ERShares Private-Public Crossover ETF has soared to over 40%, raising concerns about liquidity risk"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278138105.md"
description: "The ERShares fund (XOVR) has increased its holding in SpaceX to over 40%, exceeding the SEC's stipulated limit of 15%. This change has sparked discussions in the market about whether ETF products are suitable for including non-public assets. Experts point out that illiquid assets may exacerbate redemption pressure and valuation transparency risks for the fund in extreme market conditions"
datetime: "2026-03-06T16:28:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278138105.md)
  - [en](https://longbridge.com/en/news/278138105.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278138105.md)
---

# The holding ratio of SpaceX in the ERShares Private-Public Crossover ETF has soared to over 40%, raising concerns about liquidity risk

The ERShares fund (XOVR) has increased its holding in Elon Musk's SpaceX from approximately 37% to over 40%, far exceeding the U.S. Securities and Exchange Commission (SEC) regulation that limits open-end funds' holdings of illiquid securities to 15%.

Due to the fund's priority of selling liquid public stocks when responding to redemptions, the proportion of illiquid SpaceX assets in the portfolio has been passively elevated.

This phenomenon has once again sparked intense debate in the market about whether "daily liquidity" ETF products are suitable for accommodating non-listed assets. Industry experts point out that placing hard-to-trade and value assets into ETFs will exacerbate the redemption pressure and valuation opacity risks for funds in extreme market conditions

### Related Stocks

- [XOVR.US](https://longbridge.com/en/quote/XOVR.US.md)

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