BlackRock Inc. is launching a new space ETF for European investors that will add newly listed companies within 10 to 30 days.The index of the iShares Space Technologies UCITS ETF — ticker STAR — includes an IPO fast-entry mechanism, according to a statement Tuesday. The feature will allow companies to be added shortly after listing via intra-rebalance reviews, rather than waiting for the next scheduled rebalance.The launch comes just days after the makers of the S&P 500 index declined to tweak rules that would have enabled the rapid inclusion of mega initial public offerings, including SpaceX, though the timing is unrelated, according to a spokesperson.Investor interest in space ETFs has surged in recent months ahead of the trading debut of Elon Musk’s rockets-to-Twitter conglomerate, according to Bloomberg Intelligence. The products have pulled in $8 billion since the beginning of the year, overtaking defense ETFs and ranking second among BI’s 39 ETF themes for net inflows.
BlackRock to offer space ETF that will add new IPOs within days
BlackRock has launched the iShares Space Technologies UCITS ETF (STAR) for European investors, featuring a unique IPO fast-entry mechanism. This allows newly listed space companies to be added to the index within 10 to 30 days, rather than waiting for scheduled rebalances. The move follows a surge in investor interest in space ETFs.
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