Key facts
- BlackRock acquired $882 million in SpaceX stock through various ETFs.
- The iShares AI Innovation and Tech Active ETF was the largest investor, contributing over $451 million.
- SpaceX's IPO raised $75 billion, valuing the company at $1.77 trillion.
- SpaceX stock closed at $160.95 on its first trading day, up from its $135 IPO price.
- ARK Invest also invested $530 million in SpaceX.
BlackRock significantly increased its stake in SpaceX, acquiring approximately $882 million in the company's stock through various exchange-traded funds following its record-setting initial public offering. The iShares AI Innovation and Tech Active ETF was the largest contributor, investing over $451 million, according to Bloomberg data. Other BlackRock-managed funds, including the iShares U.S. Equity Factor Rotation Active ETF and iShares Defense Industrials Active ETF, also participated in the investment.
ETF investors showed rapid enthusiasm for SpaceX shares post-IPO, with the number of ETF holders increasing from four on Friday morning to 40. Analyst Eric Balchunas noted this swift accumulation, contrasting it with the slower ETF entry for Meta Platforms and Alibaba in the past. He attributed the current trend to the rise of actively managed funds, which are not bound by index rules and can adjust holdings more dynamically.
SpaceX's IPO was a landmark event, issuing 556.5 million shares at $135 each to raise approximately $75 billion and valuing the company at $1.77 trillion. The stock opened trading at $172, closing the day at $160.95, still significantly above its IPO price. Cathie Wood's ARK Invest also participated in the strong institutional demand, investing around $530 million in SpaceX stock.