KEY POINTS
- SpaceX is on track to become the largest IPO in history, but it is expected to list on the Nasdaq, not the ASX.
- The Betashares Space Industry ETF (ASX: RCKT) is the most direct ASX-listed way to gain exposure to the global space industry.
- Nasdaq 100 ETFs such as NDQ could eventually hold SpaceX if the company joins the index.
- Electro Optic Systems (ASX: EOS) offers exposure to Australia’s growing space and defence industries, although it is not a direct SpaceX investment.
- None of these options provides direct ownership of SpaceX shares.
SpaceX is on track to become the largest stock market float in history. In its formal SEC filing, the company set a fixed price of US$135 per share and a target valuation of about US$1.77 trillion, with a Nasdaq debut expected on 12 June 2026. Unsurprisingly, investor interest has surged as the company prepares to enter public markets.
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For Australians, however, there is a catch. SpaceX is listing on the Nasdaq, not the ASX. Buying shares directly will require access to US markets through an international brokerage account.
Fortunately, investors who prefer to stay on the ASX still have several ways to gain exposure to the broader growth of the space economy.
What are the Best ASX Stocks to invest in right now?
The Simplest Option: BetaShares Space Industry ETF (ASX: RCKT)
The BetaShares Space Industry ETF (ASX: RCKT) is currently the closest thing Australian investors have to a dedicated space-sector investment on the ASX.
Launched in May 2026, the ETF invests in a diversified portfolio of global companies involved in launch services, satellite communications, Earth observation, aerospace infrastructure and emerging space technologies. Holdings include companies such as Rocket Lab, AST SpaceMobile and Planet Labs.
For investors interested in SpaceX, one feature stands out. The ETF’s underlying index includes a fast-entry mechanism designed to capture significant new listings. That means SpaceX could potentially be added shortly after its IPO, subject to the index’s eligibility requirements and methodology rules. The trade-off is diversification. Even if SpaceX joins the fund, investors will own a basket of space-related businesses rather than a concentrated position in SpaceX itself.
For many investors, however, that diversification may actually reduce risk while still providing exposure to the long-term growth of the sector.
You Might Eventually Own SpaceX Through a Nasdaq 100 ETF
Many Australian investors already own the BetaShares Nasdaq 100 ETF (ASX: NDQ) or a similar Nasdaq-tracking fund.
If SpaceX becomes eligible for inclusion in the Nasdaq 100 Index after listing, index-tracking funds would be required to purchase shares as part of their portfolio construction process.
Given the company’s expected market capitalisation, many analysts believe SpaceX could qualify for Nasdaq’s accelerated index-entry process. However, inclusion remains subject to Nasdaq’s rules and review procedures.
The main limitation is weighting. Even if SpaceX enters the Nasdaq 100, it would represent only one position among 100 holdings. Investors would gain exposure, but it would likely make up a relatively small percentage of the fund. For investors who already own NDQ, this may be the easiest and lowest-maintenance way to gain indirect exposure to SpaceX.
The ASX Stock Play: Electro Optic Systems (ASX: EOS)
For investors looking for an individual ASX-listed company connected to the space theme, Electro Optic Systems (ASX: EOS) is one of the most prominent names available.
The company operates a Space Systems division focused on space-domain awareness technologies, including optical sensors that track satellites and debris in orbit. It also maintains a larger defence business specialising in remote weapon systems and counter-drone technologies.
EOS shares have delivered exceptional gains over the past year, and the company recently raised about A$190 million through a A$150 million institutional placement and a A$40 million strategic placement from defence-focused investors.
Investors should keep one important point in mind, however. EOS is primarily a defence technology company, with space representing only part of the broader business. The company has no direct ownership stake in SpaceX and should not be viewed as a direct proxy for the Elon Musk-led aerospace giant.
After such a strong rally, investors should also be aware that volatility remains a significant risk.
Which Option Is Best?
The right choice depends on how much exposure to the space sector you want and how much risk you’re prepared to take.
- RCKT offers the most direct ASX-listed exposure to the global space industry while maintaining diversification.
- NDQ provides potential future exposure through Nasdaq 100 inclusion and may already be sitting in many Australian portfolios.
- EOS offers a higher-risk, company-specific way to participate in Australia’s growing space and defence industries.
Importantly, none of these investments provides direct ownership of SpaceX shares. Instead, they offer varying degrees of exposure to the broader themes that could benefit from SpaceX’s public-market debut.
As the global space economy continues to expand, Australian investors are gaining more ways to participate. A second space-focused ETF, the Global X Space Tech ETF (ASX: MOON), is also expected to arrive on the ASX, further broadening the investment opportunity set.
For now, investors should focus less on the IPO hype and more on whether the underlying investment fits their long-term strategy. Excitement can drive share prices in the short term, but fundamentals ultimately determine returns.
