MSCI confirms early index inclusion rules ahead of SpaceX IPO
Index provider MSCI confirmed on Monday it will apply existing rules for early inclusion of large IPOs in its Global Standard Indexes, likely clearing the
Index provider MSCI confirmed on Monday it will apply existing rules for early inclusion of large IPOs in its Global Standard Indexes, likely clearing the way for SpaceX to join, which will fuel demand from passively managed investment funds. Investment funds with trillions of dollars in assets track MSCI's indexes, and they would have to buy shares of SpaceX if it is added to those benchmarks, adding to demand from funds tracking the Nasdaq 100 and FTSE Russell indexes.
SpaceX is raising $75 billion and targeting a $1.75 trillion valuation that would place it among the top 10 most valuable U.S.-listed firms, even as only around 7% of its listed shares will be freely tradeable at launch on June 12. The rocket maker led by Elon Musk is expected to easily clear MSCI's size and free-float thresholds for early inclusion in its indexes. MSCI's decision contrasts with S&P Global, which last week shut out SpaceX from quick inclusion in the S&P 500 index after deciding it would not change its criteria, including a rule that a company must be profitable.
SpaceX posted a net loss of $4.94 billion in 2025, even as revenue rose 33% to $18.67 billion. The final IPO price is due to be set on June 11, with trading on Nasdaq starting the next day, which would put SpaceX on track to join MSCI's indexes 10 trading days later, according to MSCI. Passively managed funds tracking MSCI indexes had around $5.79 trillion in assets, according to an MSCI blogpost published in February. Nasdaq has already made changes that will make it easier for SpaceX, Anthropic and other newly listed megacaps to join its Nasdaq 100 index.
SpaceX is set to be eligible for inclusion in both the Russell U.S. Equity Indexes and the FTSE Global Equity Index Series under the newly announced fast-entry rules from the index provider FTSE Russell.
The BriefWire