SpaceX to Join Russell 1000 on June 26, Triggering $8.9 Trillion in Passive Inflows

According to FTSE Russell, SpaceX will be included in the Russell 1000 Index effective June 26, triggering anticipated demand from passive funds. Morningstar data shows that funds tracking major indices hold $8.9 trillion in assets under management. The inclusion marks a key catalyst for the stock after its IPO last week at $135 per share; the stock has gained 33% since listing and briefly surged 67% during its debut trading week, though momentum cooled this week.

Separately, Bloomberg reported that SpaceX is preparing to issue corporate bonds totaling at least $20 billion, with investor meetings to begin as early as next Monday. The proceeds will refinance $20 billion in bridge loans due September 2027. This marks SpaceX's first offering of investment-grade U.S. dollar bonds; S&P Global assigned it a BBB rating, while Fitch and Moody's assigned BBB+ and Baa1 ratings respectively.