Interest in SpaceX pre-IPO investing has never been higher. As investors search for ways to access SpaceX before a potential IPO, several routes have emerged: ETFs, interval funds, and secondary markets. Each option works differently and comes with its own trade-offs in liquidity, fees, minimum investment, and investor access.
This guide explains the main ways to invest in SpaceX pre-IPO, including SpaceX ETFs, private-market funds, and secondary market platforms.
Key Takeaways
- ETFs offer daily liquidity with no minimum beyond the cost of one share.
- XOVR currently offers one of the largest SpaceX weightings among publicly traded ETFs.
- XOVR was the first ETF designed to provide exposure to private companies alongside public equities inside a single ETF structure, pioneering private equity access within an ETF.
- Interval funds may suit long-term investors who are comfortable with quarterly liquidity.
- Secondary markets can offer more direct SpaceX share access but usually require accreditation and large minimum investments.
Main Ways to Invest in SpaceX Pre-IPO
There are three broad categories of SpaceX pre-IPO investment, each suited to a different type of investor:
- ETFs: Daily-traded funds like XOVR and RONB that give investors liquid SpaceX exposure through stock exchanges. No accreditation is required, and there are no large minimums beyond the cost of one ETF share.
- Interval funds: Long-term private-market vehicles like ARK Venture Fund, also known as ARKVX, and Private Shares Fund, also known as PRIVX, that hold SpaceX alongside other private companies. These are designed for patient investors who do not need daily liquidity.
- Secondary markets: Platforms like Forge Global, EquityZen, and Hiive where accredited investors may purchase SpaceX shares directly from employees or early investors. This route has the highest barriers to entry but may offer the closest form of direct ownership.
How ETFs and Interval Funds Offer SpaceX Exposure
ETFs: XOVR and RONB
ETFs are the simplest and most accessible route for many investors seeking SpaceX exposure.
XOVR, the ERShares Private-Public Crossover ETF, is currently one of the most concentrated publicly traded ETF options for SpaceX exposure. XOVR was also the first ETF designed to provide exposure to private companies alongside publicly traded equities inside a single ETF structure, helping pioneer private equity access within an ETF format.
XOVR provides SpaceX exposure through a special purpose vehicle, or SPV, structure. As of May 2026, the fund reported approximately $292 million in SpaceX exposure. SpaceX exposure within XOVR has fluctuated with valuation changes, fund flows, and portfolio activity, at times exceeding 40% of total assets.
- Expense ratio: 0.75%.
- Trades daily on Nasdaq.
- Available through major brokerage platforms.
- No accreditation required.
- No minimum investment beyond the price of one ETF share.
RONB, the Baron First Principles ETF, also provides SpaceX exposure through an ETF structure. RONB holds SpaceX shares directly, with exposure split across share classes.
- Expense ratio: 0.80%.
- Trades daily on NYSE.
- Available to all investors through standard brokerage accounts.
The key difference is that XOVR has recently offered the largest reported SpaceX weighting among publicly traded ETFs, while RONB offers SpaceX exposure through direct share ownership rather than an SPV layer.
Interval Funds: ARK Venture Fund and Private Shares Fund
Interval funds are designed to hold illiquid private assets, which is why they can offer exposure to private companies such as SpaceX.
ARKVX, the ARK Venture Fund, holds SpaceX as one of its largest positions.
- Minimum investment: $500 through select platforms such as SoFi or Titan.
- Expense ratio: approximately 2.75%.
- Net expense ratio after fees and fund expenses: approximately 2.90%.
- Liquidity: quarterly repurchases only.
PRIVX, the Private Shares Fund, holds SpaceX and other private companies.
- Minimum investment: approximately $2,500.
- Expense ratio: generally 2.5% to 3% annually depending on share class and operating expenses.
- Liquidity: quarterly repurchase offers.
Unlike ETFs, interval funds do not trade daily on an exchange. The trade-off is that investors give up daily liquidity and typically pay higher fees in exchange for private-market exposure.
Overall, ETFs may be better suited for investors who want SpaceX exposure with daily liquidity, while interval funds may appeal to long-term investors who are comfortable locking up capital for longer periods.
How Secondary Markets for SpaceX Shares Work
Secondary market platforms like Forge Global, EquityZen, and Hiive allow accredited investors to buy private company shares from existing shareholders, such as employees or early investors.
This is how the process generally works:
- Verify accredited investor status with the platform.
- Browse available listings or submit a buy order at a negotiated price.
- SpaceX may exercise its Right of First Refusal, or ROFR, meaning the company can block or match the transaction.
- If approved, the deal may close over several weeks.
- Shares are held until a future liquidity event, such as an IPO, tender offer, or secondary sale.
Pros
- Closest form of direct SpaceX ownership available to private investors.
- No ongoing ETF or fund expense ratio once the transaction is complete.
Risks
- Minimum investments often start at $100,000 or more.
- Transaction fees may range from 5% to 10%.
- Shares can be completely illiquid until IPO or another liquidity event.
- ROFR can delay or stop a transaction.
- Pricing can fluctuate significantly in private markets.
Which SpaceX Investment Option Has the Best Liquidity and Lowest Costs?
Liquidity and cost vary significantly across the main SpaceX investment routes.
| Method | Liquidity | Minimum Investment | Fees | Investor Type |
| XOVR ETF | Daily | Approx. price of 1 ETF share* | 0.75% | All investors |
| RONB ETF | Daily | Approx. price of 1 ETF share* | 0.80% | All investors |
| ARK Venture Fund, ARKVX | Quarterly | $500 | Approx. 2.75% | All investors |
| Private Shares Fund, PRIVX | Quarterly | $2,500 | Approx. 2.5% to 3% | All investors |
| Secondary Markets | No guaranteed liquidity pre-IPO | $100,000+ | 5% to 10% transaction fees | Accredited investors only |
*ETF share prices fluctuate daily based on market conditions.
Biggest Risks of SpaceX Pre-IPO Investing
SpaceX pre-IPO investing carries meaningful risks, regardless of the vehicle used.
- Valuation risk: Private-market valuations can be high and may leave limited room for disappointment after an IPO or other liquidity event.
- Indirect ownership: ETF and interval fund investors typically own fund shares, not SpaceX shares directly.
- SPV structure risk: In some vehicles, SpaceX exposure may be obtained indirectly through a special purpose vehicle.
- Illiquidity: Interval funds offer limited quarterly liquidity. Secondary market shares may have no liquidity until IPO or another transaction.
- Fee drag: Higher-fee vehicles can reduce long-term returns, especially if a liquidity event is delayed.
- Concentration risk: A fund with a large SpaceX position may be more sensitive to SpaceX valuation changes.
- Headline and sentiment risk: News related to SpaceX, Elon Musk, Tesla, X, or broader private-market sentiment may affect investor demand.
Risk levels vary by structure. ETF investors face market-price volatility, concentration risk, and fund-structure risk. Interval fund investors face liquidity limits and higher expenses. Secondary market buyers face transaction complexity, accreditation requirements, illiquidity, and direct private-market valuation risk.
Best SpaceX Investment Options by Investor Type
- XOVR ETF: Best for investors who want high SpaceX exposure in a liquid ETF structure. XOVR currently has one of the largest reported SpaceX weightings among publicly traded ETFs and pioneered private equity exposure inside an ETF structure.
- RONB ETF: Best for investors who want daily liquidity and SpaceX exposure through an ETF with direct share ownership.
- Interval funds such as ARKVX and PRIVX: Best for long-term investors who do not need daily liquidity and are comfortable with higher fees.
- Secondary markets: Best for accredited investors seeking the closest available form of direct SpaceX ownership and who can accept large minimums and complete illiquidity.
The right choice depends on liquidity needs, risk tolerance, fee sensitivity, and how directly an investor wants to access SpaceX.
Frequently Asked Questions
1. Can I buy SpaceX stock through a normal brokerage account?
Not directly. SpaceX is still a private company. However, ETFs like XOVR and RONB are available through major brokerage platforms and provide indirect SpaceX exposure without special account requirements.
2. Which ETF has the most SpaceX exposure?
XOVR currently has one of the largest reported SpaceX weightings among publicly traded ETFs. SpaceX exposure has recently been reported around the 20% to 23% range and has, at times, exceeded 40% of total assets due to valuation changes, portfolio activity, and fund flows. Holdings and weights are subject to change.
3. Was XOVR the first ETF with private equity exposure?
XOVR was the first ETF designed to provide exposure to private companies alongside publicly traded equities within a single ETF structure. This made XOVR a pioneer in bringing private equity-style exposure into an ETF format available through public markets.
4. Do I need to be an accredited investor to invest in SpaceX?
Not for ETFs or interval funds. Accreditation is generally required only for direct private share purchases through secondary market platforms such as Forge Global, EquityZen, or Hiive.
5. What is the cheapest way to get SpaceX exposure?
ETFs such as XOVR and RONB are among the lowest-barrier options because investors only need to buy one ETF share. They also offer daily liquidity and expense ratios below 1%, unlike many private-market funds that may charge higher annual fees.
6. Are interval funds liquid?
No, not in the same way ETFs are. Interval funds like ARKVX and PRIVX typically allow redemptions only quarterly, and repurchases may be limited to a percentage of outstanding shares. In certain circumstances, investors may not be able to redeem all requested shares.
7. What happens to these investments after a SpaceX IPO?
If SpaceX becomes publicly traded, ETF and interval fund valuations would generally begin reflecting SpaceX’s public-market price. However, certain holdings may be subject to lock-up restrictions after an IPO. Once any applicable lock-up period expires, funds may choose to hold, reduce, or sell their SpaceX exposure depending on their investment mandate.
