Space-themed exchange-traded funds are blasting off, with asset managers rushing to issue new products ahead of the much-anticipated IPO by industry giant SpaceX and investors jumping aboard the space bandwagon.
Space-related ETFs have attracted $1.3 billion in new cash in the last month alone, pushing total assets under management in the embryonic segment to $3.3 billion, according to Morningstar Direct. The popularity has been driven by Elon Musk's SpaceX as well as a realization among investors that this may mark only the beginning of meaningful growth in the space economy, as envisaged by Musk and his plans to colonize Mars.
