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CRSP · Index Funds · S&P · SpaceX
SpaceX is officially joining indexes managed by CRSP and S&P Dow Jones Indices, with Vanguard, BlackRock, and State Street funds tracking these benchmarks acquiring the stock as early as Monday, marking a significant index inclusion event.
CRSP and S&P Dow Jones Indices are the initial providers to integrate SpaceX into their products. Vanguard funds that track CRSP products, alongside BlackRock and State Street ETFs following the S&P Total Market Index, will own the stock starting Monday.
LSEG's Russell indexes and those maintained by MSCI will incorporate SpaceX subsequently. Index inclusion is a beneficial development for a stock, as it mandates buying by funds that track these indexes.
Some index providers, including S&P, have adjusted their rules to fast-track large new companies like SpaceX into their offerings. CRSP considers fast-tracked IPOs for inclusion after five days of trading, with SpaceX's first trading session counting towards this criterion.
SpaceX enters several S&P Dow Jones Indices, including the S&P Total Market Index, before Monday's trading commences, according to a message sent to S&P clients. The S&P 500 will not immediately include SpaceX, as the provider did not alter its eligibility criteria for fast-tracking large IPOs into that specific benchmark.