Several exchange-traded funds (ETFs) have gradually increased their positions in Space Exploration Technologies (NASDAQ: SPCX) as additional shares have been unlocked. But the Vanguard Communication Services ETF (NYSEMKT: VOX) has been one of the most aggressive buyers. When SpaceX held its initial public offering on June 12, 2026, only about 5% of shares were available for trading on the Nasdaq.
As more shares are unlocked and sold, the number of shares available for trading by the public -- known as the float -- increases. So does SpaceX's weighting in indexes like the Nasdaq-100, which weights SpaceX based on a multiple of its float rather than its market cap until the float is big enough. Act 2 Could Be 15x Bigger.
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Continue » Because of SpaceX's gradual unlocking, many ETFs have continued to buy SpaceX regardless of its share price, although some ETFs have slowed their purchases of SpaceX in recent months. Here's why the Vanguard Communications Services ETF will likely continue loading up on SpaceX stock and why it's one of the best ETFs to buy for exposure to SpaceX. Several major Vanguard ETFs have been buying SpaceX, including the Vanguard Morningstar Total Stock Market ETF, the Vanguard Total World Stock ETF, and the Vanguard Morningstar Growth ETF.
As of Aug. 31, SpaceX hasn't even cracked the top 50 holdings in the Vanguard Growth ETF, the top 100 in the Vanguard Total Stock Market ETF, or the top 200 in the Vanguard World Stock ETF. That's even though SpaceX's market cap is $2 trillion at the time of this writing -- making it one of the 10 most valuable companies in the world. SpaceX will make up a larger share of these ETFs as its float increases.
But for now, it remains a small holding. The pace of buying in the Vanguard Communication Services ETF has been much faster. As of June 30, the ETF held 632,077 shares, which jumped to 842,835 as of July 31 and to 1,170,398 as of Aug. 31.
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