<p>零售投资者在 SpaceX IPO 之前纷纷涌入太空投资交易，而一只 ETF 已经从中获利。</p>
<p>Tema ETFs 的太空创新 ETF 于 3 月 30 日推出，交易代码为 NASA，仅用 37 个交易日便突破了 10 亿美元的资产，到上周末时，资产已超过 26 亿美元。</p>
<p>这种快速增长部分是由于零售投资者在 SpaceX 上市前寻求投资机会。</p>
<p>虽然 SpaceX 在其发行中采取了不寻常的方式，通过经纪公司为零售投资者提供接入，这在通常由机构主导的新交易中并不常见，但 NASA 基金是投资者接触埃隆·马斯克火箭公司的另一种选择。该基金已经直接持有私募交易的 SpaceX 股票，目前 SpaceX 在基金中占比约 7.5%。</p>
<p>&#34;如果我们要投资太空……我们必须提供对 SpaceX 的接触，&#34; Tema ETFs 创始人兼首席执行官 Maurits Pot 在 CNBC 的 &#34;ETF Edge&#34; 节目中表示。</p>
<p>Pot 表示，IPO 发生后没有出售股份的计划。&#34;对我们来说，IPO 只是将头寸重新标记为市场价格，&#34;他说。</p>
<p>股票图标</p>
<p><img src="https://imageproxy.pbkrs.com/https://static-redesign.cnbcfm.com/dist/a54b41835a8b60db28c2.svg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://static-redesign.cnbcfm.com/dist/a54b41835a8b60db28c2.svg"/></p>
<p>NASA 1 M</p>
<p>不过，NASA 并不是唯一一家可以接触 SpaceX 的 ETF，尽管选择有限。共同基金经理和亿万富翁 Ron Baron 是长期的特斯拉和 SpaceX 投资者，通过他的 First Principles 基金（RONB）拥有这家火箭公司。特斯拉是 RONB ETF 的最大持股，占比超过 14%，而 SpaceX 占基金资产的近 2%。ERShares Private-Public Crossover ETF（XOVR）也持有 SpaceX 的股份，基于超过 1.5 万亿美元的 IPO 估值，其股份价值接近 3 亿美元。</p>
<p>为 SpaceX 交易设定精确估值仍然是市场和投资者之间的争论点。</p>
<p>ETF Action 的创始合伙人 Mike Akins 在 &#34;ETF Edge&#34; 中表示，ETF 结构本身使得普通投资者能够获得这种接触。&#34;十年前、二十年前，如果你谈论这样的太空主题，投资者必须自己去查找所有这些公司。现在有了一个代码，&#34; Akins 说。</p>
<p>Strategas 的首席 ETF 策略师 Todd Sohn 指出，过去几个月已经推出了几只新的太空 ETF，包括 Van Eck 太空 ETF（WARP）和 Roundhill Investments 的太空与技术 ETF（MARS），这本身就表明零售投资者预计会追求这一主题，就像他们对其他最近的科技创新主题交易一样，从人工智能到量子计算。&#34;对我来说，这通常是一个很好的信号，表明行业预计太空将成为下一个大事，&#34; Sohn 在 CNBC 中表示。&#34;这与几年前的人工智能非常相似，并且还在继续。&#34;</p>
<p>但 Sohn 警告说，并非所有基金都是平等的。&#34;这完全取决于 ETF 的纯粹程度或稀释程度。因此，现在进行尽职调查非常重要，&#34;他说。</p>
<p>市场上已经有其他以太空投资为主题的 ETF 存在多年，构建了包括纯粹、高风险的太空探索公司、卫星公司以及更广泛的航空航天和国防行业名称的股票组合。</p>
<p>Procure Space ETF（UFO）于 2019 年推出，资产超过 12 亿美元，持有 Rocket Lab、Firefly Aerospace 和 Planet Labs 等顶级持股。SPDR S&amp;P Kensho Final Frontiers ETF（ROKT）于 2018 年推出，也持有 Intuitive Machines 和 Redwire。Global X Space Tech ETF（ORBX）提供类似的投资组合构成。</p>
<p>股票图标</p>
<p><img src="https://imageproxy.pbkrs.com/https://static-redesign.cnbcfm.com/dist/a54b41835a8b60db28c2.svg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://static-redesign.cnbcfm.com/dist/a54b41835a8b60db28c2.svg"/></p>
<p>投资于太空和航空航天股票的 UFO ETF 的五年表现。</p>
<p>ARK 太空与国防创新 ETF（ARKX）是一个很好的例子，说明顶级股票的定义集可以在市场上广泛分布，其投资组合还包括亚马逊和迪尔。</p>
<p>Sohn 表示，对这些 ETF 和太空投资主题感兴趣的投资者应考虑投资组合中与更经典的国防行业名称的重叠程度，以及基金在小型高风险股票中的集中程度。</p>
<p>&#34;从事这一行业的上市公司数量有限，&#34; Sohn 说。&#34;其中一些可能有 30 个持股，有些可能接近 50 个，&#34;他说当前的太空 ETF。&#34;我感觉一旦 SpaceX 上市并交易一段时间，你会看到一些基金转变为更集中押注，具体取决于它们的管理方式，&#34;他说。</p>
<p>这是投资者需要考虑的另一个因素：例如，NASA 是一只主动管理的基金，而不是跟踪旨在代表该主题的现有股票指数，这正是 UFO、ORBX、ROKT 和其他基金的做法。</p>
<p>显然，埃隆·马斯克将是 SpaceX IPO 的大赢家，并可能成为世界首位万亿富翁。但 Akins 和 Sohn 都表示，零售投资者进入太空主题的最大风险是波动性。</p>
<p>本周，蓝色起源的 New Glenn 火箭发射台爆炸使太空市场的风险变得更加明显。</p>
<p>&#34;预计会有波动。这通常是非常早期行业的情况。会有一些公司表现优异，也会有一些 ETF 中的公司因为商业模式不合理而崩溃，&#34; Sohn 说。</p>
<p>注册我们的每周通讯，超越直播，深入了解塑造 ETF 市场的趋势和数据。</p>
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全球上市私募股权 ETF - ProShares

NASA

<p>零售投资者纷纷涌向以太空为主题的 ETF，特别是 Tema 的 NASA ETF，因 SpaceX 即将上市而备受关注。NASA ETF 在两个月内资产激增至 26 亿美元，提供了对 SpaceX 股票的直接投资机会。尽管零售投资者的投资选择仍然有限，但专家指出，主题 ETF 为这一趋势提供了便利的投资工具，尽管他们提醒投资者在投资前应对基金的组成和集中风险进行尽职调查</p>

<p>Retail investors are rushing into the space investing trade ahead of the SpaceX IPO, and one ETF has cashed in on the excitement.</p>
<div class="lb-trans"><p>零售投资者在 SpaceX IPO 之前纷纷涌入太空投资交易，而一只 ETF 已经从中获利。</p>
</div><p>Tema ETFs' Space Innovators ETF, which launched on March 30 and trades under the ticker symbol NASA, crossed $1 billion in assets in just 37 trading days, and by the end of this past trading week, had reached over $2.6 billion in assets.</p>
<div class="lb-trans"><p>Tema ETFs 的太空创新 ETF 于 3 月 30 日推出，交易代码为 NASA，仅用 37 个交易日便突破了 10 亿美元的资产，到上周末时，资产已超过 26 亿美元。</p>
</div><p>That rapid rise is due in part to retail investors hunting for exposure to SpaceX before it goes public.</p>
<div class="lb-trans"><p>这种快速增长部分是由于零售投资者在 SpaceX 上市前寻求投资机会。</p>
</div><p>While SpaceX has taken an unusual approach to its offering, setting up access for retail investors through brokerage firms at a level atypical in new deals typically dominated by institutions, the NASA fund is another alternative for investors to gain access to Elon Musk's rocket company. It already holds privately traded SpaceX shares directly. It is one of the few investment vehicles available to retail investors that does, with SpaceX currently representing around 7.5% of the fund.</p>
<div class="lb-trans"><p>虽然 SpaceX 在其发行中采取了不寻常的方式，通过经纪公司为零售投资者提供接入，这在通常由机构主导的新交易中并不常见，但 NASA 基金是投资者接触埃隆·马斯克火箭公司的另一种选择。该基金已经直接持有私募交易的 SpaceX 股票，目前 SpaceX 在基金中占比约 7.5%。</p>
</div><p>&#34;If we're going to invest in space ... We have to offer exposure to SpaceX,&#34; said Maurits Pot, Tema ETFs founder and CEO on CNBC's &#34;ETF Edge&#34; on Wednesday.</p>
<div class="lb-trans"><p>&#34;如果我们要投资太空……我们必须提供对 SpaceX 的接触，&#34; Tema ETFs 创始人兼首席执行官 Maurits Pot 在 CNBC 的 &#34;ETF Edge&#34; 节目中表示。</p>
</div><p>Pot said there is no plan to sell shares once the IPO occurs. &#34;The IPO for us is simply a remarking of the position to market price,&#34; he said.</p>
<div class="lb-trans"><p>Pot 表示，IPO 发生后没有出售股份的计划。&#34;对我们来说，IPO 只是将头寸重新标记为市场价格，&#34;他说。</p>
</div><p>Stock chart icon</p>
<div class="lb-trans"><p>股票图标</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://static-redesign.cnbcfm.com/dist/a54b41835a8b60db28c2.svg" alt="" original-src="https://static-redesign.cnbcfm.com/dist/a54b41835a8b60db28c2.svg"/></p>
<p>NASA 1 M</p>
<div class="lb-trans"><p>NASA 1 M</p>
</div><p>NASA isn't the only ETF that has access to SpaceX, though the options are limited. Mutual fund manager and billionaire Ron Baron, a long-time Tesla and SpaceX investor, owns the rocket company through his First Principles fund (RONB). Tesla is the top holding in the RONB ETF, at over 14%, while holding close to 2% of the fund's assets in SpaceX. The ERShares Private-Public Crossover ETF (XOVR), which offers access to late-stage private companies, also owns shares of SpaceX which it says are worth close to $300 million based on an IPO value of over $1.5 trillion.</p>
<div class="lb-trans"><p>不过，NASA 并不是唯一一家可以接触 SpaceX 的 ETF，尽管选择有限。共同基金经理和亿万富翁 Ron Baron 是长期的特斯拉和 SpaceX 投资者，通过他的 First Principles 基金（RONB）拥有这家火箭公司。特斯拉是 RONB ETF 的最大持股，占比超过 14%，而 SpaceX 占基金资产的近 2%。ERShares Private-Public Crossover ETF（XOVR）也持有 SpaceX 的股份，基于超过 1.5 万亿美元的 IPO 估值，其股份价值接近 3 亿美元。</p>
</div><p>Setting a precise valuation for the SpaceX deal remains a point of contention in the market and among investors.</p>
<div class="lb-trans"><p>为 SpaceX 交易设定精确估值仍然是市场和投资者之间的争论点。</p>
</div><p>Mike Akins, founding partner at ETF Action, said on &#34;ETF Edge&#34; that the ETF structure itself is what makes this kind of access possible for the everyday investor. &#34;Ten, twenty years ago, you talked about a space theme like this, an investor would have to go out and look up all these companies. Now there's a ticker,&#34; Akins said.</p>
<div class="lb-trans"><p>ETF Action 的创始合伙人 Mike Akins 在 &#34;ETF Edge&#34; 中表示，ETF 结构本身使得普通投资者能够获得这种接触。&#34;十年前、二十年前，如果你谈论这样的太空主题，投资者必须自己去查找所有这些公司。现在有了一个代码，&#34; Akins 说。</p>
</div><p>Todd Sohn, chief ETF strategist at Strategas, noted that several new space ETFs have launched over the past few months, including the Van Eck Space ETF (WARP) and Roundhill Investments' Space &amp; Technology ETF (MARS), which is itself a signal that retail investors are expected to pursue the theme as they have with other recent thematic trades playing off tech innovation, from AI to quantum computing. &#34;That to me is usually a pretty good read that the industry expects space to be the next big thing,&#34; Sohn told CNBC. &#34;It's a very similar idea to what AI was a few years ago and continuing on.&#34;</p>
<div class="lb-trans"><p>Strategas 的首席 ETF 策略师 Todd Sohn 指出，过去几个月已经推出了几只新的太空 ETF，包括 Van Eck 太空 ETF（WARP）和 Roundhill Investments 的太空与技术 ETF（MARS），这本身就表明零售投资者预计会追求这一主题，就像他们对其他最近的科技创新主题交易一样，从人工智能到量子计算。&#34;对我来说，这通常是一个很好的信号，表明行业预计太空将成为下一个大事，&#34; Sohn 在 CNBC 中表示。&#34;这与几年前的人工智能非常相似，并且还在继续。&#34;</p>
</div><p>But Sohn cautioned that not all funds are created equal. &#34;It all depends on how pure or watered down the ETF is. So the due diligence for this is really important now,&#34; he said.</p>
<div class="lb-trans"><p>但 Sohn 警告说，并非所有基金都是平等的。&#34;这完全取决于 ETF 的纯粹程度或稀释程度。因此，现在进行尽职调查非常重要，&#34;他说。</p>
</div><p>There are other ETFs branded under the space investing theme that have been in the market for years already, building portfolios of stocks that include pure-play, high-risk space exploration companies, satellite companies, and broader aerospace and defense sector names.</p>
<div class="lb-trans"><p>市场上已经有其他以太空投资为主题的 ETF 存在多年，构建了包括纯粹、高风险的太空探索公司、卫星公司以及更广泛的航空航天和国防行业名称的股票组合。</p>
</div><p>The Procure Space ETF (UFO), which launched in 2019 and has over $1.2 billion in assets, holds Rocket Lab, Firefly Aerospace, and Planet Labs among its top holdings. The SPDR S&amp;P Kensho Final Frontiers ETF (ROKT), which launched in 2018, also holds Intuitive Machines and Redwire. The Global X Space Tech ETF (ORBX) offers a similar portfolio composition.</p>
<div class="lb-trans"><p>Procure Space ETF（UFO）于 2019 年推出，资产超过 12 亿美元，持有 Rocket Lab、Firefly Aerospace 和 Planet Labs 等顶级持股。SPDR S&amp;P Kensho Final Frontiers ETF（ROKT）于 2018 年推出，也持有 Intuitive Machines 和 Redwire。Global X Space Tech ETF（ORBX）提供类似的投资组合构成。</p>
</div><p>Stock chart icon</p>
<div class="lb-trans"><p>股票图标</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://static-redesign.cnbcfm.com/dist/a54b41835a8b60db28c2.svg" alt="" original-src="https://static-redesign.cnbcfm.com/dist/a54b41835a8b60db28c2.svg"/></p>
<p>Five-year performance of UFO ETF which invests in space and aerospace stocks.</p>
<div class="lb-trans"><p>投资于太空和航空航天股票的 UFO ETF 的五年表现。</p>
</div><p>The ARK Space and Defense Innovation ETF (ARKX) is a good example of how the definitional set of top stocks can range far across the market, with its portfolio also including Amazon and Deere.</p>
<div class="lb-trans"><p>ARK 太空与国防创新 ETF（ARKX）是一个很好的例子，说明顶级股票的定义集可以在市场上广泛分布，其投资组合还包括亚马逊和迪尔。</p>
</div><p>Sohn says investors interested in these ETFs and the space investing theme should consider how much overlap there is in a portfolio with more classic defense industry names, as well as how concentrated the fund is in a small group of high-risk stocks.</p>
<div class="lb-trans"><p>Sohn 表示，对这些 ETF 和太空投资主题感兴趣的投资者应考虑投资组合中与更经典的国防行业名称的重叠程度，以及基金在小型高风险股票中的集中程度。</p>
</div><p>&#34;There's only so many companies who are doing this that are public,&#34; Sohn said. &#34;Some of them may have 30 holdings, some of them may have closer to 50 or so,&#34; he said of the current crop of space ETFs. &#34;I have a feeling once SpaceX is public and trading for some time, you're going to see some of these funds morph into more concentrated bets, depending on how they are managed,&#34; he said.</p>
<div class="lb-trans"><p>&#34;从事这一行业的上市公司数量有限，&#34; Sohn 说。&#34;其中一些可能有 30 个持股，有些可能接近 50 个，&#34;他说当前的太空 ETF。&#34;我感觉一旦 SpaceX 上市并交易一段时间，你会看到一些基金转变为更集中押注，具体取决于它们的管理方式，&#34;他说。</p>
</div><p>That's another factor for investors to consider: NASA, for example, is an actively managed fund, rather than tracking an existing index of stocks designed to represent the theme, which is the approach of UFO, ORBX, ROKT and others.</p>
<div class="lb-trans"><p>这是投资者需要考虑的另一个因素：例如，NASA 是一只主动管理的基金，而不是跟踪旨在代表该主题的现有股票指数，这正是 UFO、ORBX、ROKT 和其他基金的做法。</p>
</div><p>It is clear that Elon Musk is going to be a big winner from the SpaceX IPO and likely the world's first trillionaire. But both Akins and Sohn said the biggest risk for retail investors getting in on the space theme is volatility.</p>
<div class="lb-trans"><p>显然，埃隆·马斯克将是 SpaceX IPO 的大赢家，并可能成为世界首位万亿富翁。但 Akins 和 Sohn 都表示，零售投资者进入太空主题的最大风险是波动性。</p>
</div><p>The risks in the space market were made vivid this week with the launchpad explosion of Blue Origin's New Glenn rocket.</p>
<div class="lb-trans"><p>本周，蓝色起源的 New Glenn 火箭发射台爆炸使太空市场的风险变得更加明显。</p>
</div><p>&#34;Expect volatility. That is usually what happens with very early-stage industries. There will be companies that outperform and companies within ETFs that fall apart because the business model doesn't make sense,&#34; Sohn said.</p>
<div class="lb-trans"><p>&#34;预计会有波动。这通常是非常早期行业的情况。会有一些公司表现优异，也会有一些 ETF 中的公司因为商业模式不合理而崩溃，&#34; Sohn 说。</p>
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<div class="lb-trans"><p>选择 CNBC 作为您在 Google 上的首选来源，永不错过商业新闻中最值得信赖的名字的任何时刻。</p>
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Two months, $2.6 billion: How NASA ETF turned SpaceX IPO access into a hot retail trade

CNBC

SpaceX

Destiny Tech100

Rocket Lab

Tema Space Innovators ETF

特斯拉

Baron First Principles ETF

ERShares Private-Public Crossover ETF

VanEck Space ETF

Roundhill Space & Technology ETF

太空 ETF - Procure

Firefly Aerospace

Planet Labs

标普 Kensho 最终前沿 ETF - SPDR

Intuitive Machines

Redwire

Global X Space Tech ETF

ARK Space Exploration & Innovation ETF

亚马逊

迪尔

PLANET LABS PBC C/WTS 06/12/26 (TO PUR COM)

INTUITIVE MACHINES INC C/WTS (TO PUR COM)

两个月，26 亿美元：NASA ETF 如何将 SpaceX IPO 的准入转化为热门的零售交易