Index funds tracking the Nasdaq 100 must purchase $4.3 billion in SPCX shares due to SpaceX’s rapid addition to the index.
Index funds tracking the Nasdaq 100 will be forced to buy an estimated $4.3 billion in SpaceX shares following the company’s inclusion in the index. This rebalance affects over $800 billion in assets tied to the Nasdaq 100, with Invesco QQQ holding a significant portion of these funds.
SpaceX’s public float is limited to 281 million of its 7.57 billion shares, creating a thin market for the forced buying. Analysts note this scale of passive buying is unprecedented so soon after an IPO, with no comparable historical precedent.
A lockup expiration expected next month could further expand the float, potentially triggering additional passive buying tranches. The event is seen as one of the most mechanically consequential trading events of 2026.