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. Missed AI's "Act 1"? Act 2 Could Be 15x Bigger.
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