New York, May 16, 2026, 11:10 EDT
- Tema Space Innovators ETF dropped 3.9% Friday to finish at $34.51. The fund still posted a 7.5% gain for the week since the May 8 close.
- The fund showed $707.3 million in assets as of May 15. Rocket Lab accounted for 11.0% of holdings. SpaceX SPV exposure was 7.3%.
- NYSE Arca’s core session runs 9:30 a.m. to 4:00 p.m. ET. The next full day is Monday, May 18. Memorial Day falls a week later, on May 25.
Tema Space Innovators ETF heads into Monday with less of the uncertainty seen last week. The fund fell 3.9% Friday. It’s down to whether that was just profit-taking after the recent rally or if space stocks are starting a longer slide.
SpaceX could go public on Nasdaq as early as June 12, putting Musk’s firm in view for investors watching NASA-linked plays. Reuters reported Friday that the company is preparing its prospectus for next week, with an investor roadshow on June 4 and possible share pricing set for June 11. SpaceX is aiming to raise $75 billion at a $1.75 trillion valuation, which would make this the biggest IPO ever, according to Reuters.
NASA has a direct stake, but there’s a cap. The ETF gets access to SpaceX through an SPV—basically a special purpose vehicle—so it can own private shares before SpaceX goes public. That makes any filing from SpaceX important for the fund. NASA’s also got public space names that change hands every day.
SpaceX investors approved a 5-for-1 stock split, Bloomberg News reported, cited by Reuters. The new split cuts the fair-market value of SpaceX stock to $105.32 from $526.59. The change takes effect the week of May 18.
NASA’s main holdings led declines Friday. Rocket Lab slid 5.9%, Planet Labs fell 3.3%, and Intuitive Machines dropped 7.2%, according to Barchart. AST SpaceMobile managed a 0.8% gain. These are main ETF positions, not smaller bets, and they’re the names investors often use to track the commercial space theme.
NASA has a lead over rivals. Barron’s, citing Morningstar, said the Tema fund is the only space ETF with direct pre-IPO exposure to SpaceX. Other players, including Procure Space ETF, State Street’s ROKT, and Roundhill’s MARS, have traded on SpaceX momentum, but none hold a private position.
Tema pushed the argument at launch. “SpaceX stands apart as the defining company of the space economy,” Yuri Khodjamirian, Tema’s chief investment officer, said back in March. Khodjamirian called NASA “a transparent, actively managed vehicle” for investors to get into SpaceX and the broader space sector. Tema ETFs
Space stocks dropped Friday as traders braced for the SpaceX IPO, MarketWatch reported. Procure Space ETF fell about 3% and NASA was down 4%. Voyager Technologies CEO Dylan Taylor told MarketWatch that the IPO should put “a lot more eyeballs” on the sector, but it also means there will be “sorting between companies that are real and companies that aren’t.” MarketWatch
Global stocks fell Friday as bond yields rose and oil advanced on supply concerns, Reuters said. The Nasdaq dropped 1.54%, S&P 500 lost 1.24%, and the Dow ended 1.07% lower. “The market had gotten way ahead of itself,” said Kenny Polcari of Slatestone Wealth. “Inflation remains sticky.” Reuters
Macro risk isn’t the only issue. SpaceX showing up with a lower valuation, another IPO delay, weak prospectus, or cash moving from smaller space names into SpaceX could spell trouble for NASA. “Lots of things have to go right” at this price, Jay Ritter, IPO tracker at the University of Florida, told Reuters. “Most of the time, things don’t go according to plan.” Reuters
NASA looks unsettled heading into Monday, with no clear trend yet. Bulls are holding onto hopes for a weekly uptrend as long as Friday’s $34.08 low isn’t broken, after last week’s slide. A move over Friday’s $35.13 high could shift focus back up to Thursday’s $36.08 level. If $34.08 fails, though, the next area is the $33.52 to $33.95 range from Monday and Tuesday, where the ETF ended those sessions.
SpaceX filings are center stage the next two days, not any individual ETF disclosure. The fund has investors watching. Now it has to show the trade works as fresh numbers hit the market.
