SpaceX Tops Vanguard ETF Unexpectedly | Business and Finance News

SpaceX just became the surprise 1 holding in Vanguard’s massive $97.7 billion Extended Market ETF — outpacing over 3,000 other companies — thanks to a technical quirk: its tiny public float fooled the index into classifying it as a smaller-cap stock, even though it’s one of America’s biggest. This glitch reveals how passive funds can react unexpectedly to mega-IPOs, and as SpaceX releases more shares, it’ll likely drift into larger-cap ETFs. It’s a wild preview of what’s coming as more tech giants go public — and how ETFs, designed to track indexes, are forced to adapt in real time to these market-shifting giants. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/81db1a23ad999f2b