Procure Space ETF names SpaceX top holding after IPO

Procure Space ETF (UFO) added SpaceX as its largest holding at 6.17% as of June 17, 2026, after the company’s Nasdaq debut. The fund used a new index methodology that permits immediate inclusion of large pure-play space companies.

On May 15 the index tracked by UFO was rebranded from the S-Network Space Index to the VettaFi Space Index (SPACE). The updated rules removed a prior requirement that new listings trade for 22 consecutive days or wait for scheduled reconstitutions before becoming eligible for inclusion. Under the index’s Fast-Track Inclusion rule, companies that meet a pure-play test and a float market-cap threshold can be added to the index immediately.

The SPACE methodology also created a Mega-Cap Classification for pure-play companies with float market capitalizations above $100 billion. Firms in that group may receive a single-stock allocation of up to 15% of the index, replacing the previous individual holding cap of about 4.8%. The change allows UFO to increase its SpaceX weighting as more shares enter the public float.

UFO had more than $1 billion in assets under management and recorded over $800 million in net inflows through June 12, 2026. The fund’s holdings include other aerospace and satellite-related companies such as EchoStar Corp., Rocket Lab Corp., Trimble and AST SpaceMobile alongside its SpaceX allocation.

Initial IPO structures limited the volume of shares available to public investors, which constrained immediate large-scale allocations. As SpaceX’s free-float market capitalization grows, the fund can raise its weighting up to the new 15% ceiling. SpaceX’s public valuation rose quickly after the debut, briefly exceeding Amazon in market value and at one point surpassing Microsoft on the third day of trading.

Todd Rosenbluth, head of research at VettaFi, noted that the SpaceX IPO was highly anticipated and said the listing has pushed the space economy into a prominent investment theme for 2026. Andrew Chanin, co-founder and CEO of ProcureAM, added that investors have long sought a public vehicle for SpaceX exposure and that UFO now offers that access with ETF transparency and daily liquidity.

VettaFi is the index provider for UFO and receives an index licensing fee; VettaFi does not issue, sponsor, endorse or sell the fund and has no obligation or liability for its issuance or marketing.