Nasdaq confirmed SpaceX will enter the benchmark index on July 7, unlocking an estimated $4.3 billion in passive fund purchases
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Space Exploration Technologies Corporation will join the Nasdaq $NDAQ-100 Index before trading begins on July 7, Nasdaq announced Friday, making the rocket and satellite company one of the first beneficiaries of the exchange's new fast-track inclusion rules.
SpaceX made its Nasdaq debut on June 12 under the ticker SPCX. At just 15 trading days old as a public company when the announcement came, SpaceX set what CNBC described as one of the fastest-ever paths to Nasdaq-100 inclusion. Under the exchange's previous framework, new listings faced a waiting period of at least three months before becoming eligible for inclusion.
The Nasdaq-100 tracks 100 of the largest non-financial companies listed on the exchange. The Invesco QQQ Trust, widely regarded as a daily trading bellwether for the AI bull market, is among the products tied to the index, which collectively commands more than $800 billion in assets globally. After markets close on July 6, funds and ETFs benchmarked to the Nasdaq-100 are expected to begin acquiring SpaceX shares in order to bring their portfolios into alignment with the revised index. J.P. Morgan estimated the inclusion could draw $4.3 billion in passive inflows, according to Reuters. When it joins, SpaceX's share of the index is projected to be below 1%.
"Clearly, there's a lot of demand, that's why they fast-tracked the integration into the index," Michael Field, chief equity market strategist at Morningstar, said. "We think the stock is overvalued."
The Nasdaq-100 entry contrasts with SpaceX's standing at a rival index. As Quartz covered when S&P Dow Jones Indices declined to revise its eligibility requirements, SpaceX remains ineligible for the S&P 500 under rules that require at least one year of trading history and demonstrated GAAP profitability. S&P confirmed earlier this month it would not grant exceptions based on market capitalization alone. SpaceX reported a net loss of $4.94 billion in 2025 alongside revenue of $18.67 billion.
Attracting major listings to U.S. exchanges was among the stated goals behind a wave of index-eligibility reforms: Nasdaq cut its minimum seasoning period to 15 trading days for qualifying IPOs, while FTSE Russell went further with a five-day window.
SpaceX priced its IPO at $135 per share and carries a dual-class share structure that gives CEO Elon Musk approximately 82.4% of voting power.
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