ERShares' XOVR ETF Deepens Commitment to SpaceX with New $13 Million Investment

ERShares' XOVR ETF Makes Waves with SpaceX Investment

In a significant move for the investment world, ERShares has announced that its XOVR ETF, the only exchange-traded fund dedicated to private equity, has increased its investment in SpaceX by an impressive $13 million. This addition brings SpaceX's overall allocation within the fund to 11% of its assets under management (AUM), reinforcing its role as the fund's largest holding.

The XOVR ETF is uniquely tailored to tap into the potential of entrepreneurial U.S. large-cap firms through the ER30TR Index, which is driven by ERShares’ Proprietary Venture Capital Model. Guided by the insights of Dr. Joel Shulman, CEO and CIO of ERShares, this model has been in development for over two decades. Shulman is renowned for identifying leaders from the contemporary tech boom, often unveiling the next wave of groundbreaking companies pre-initial public offering (IPO).

Eva Ados, COO and Chief Investment Strategist at ERShares, emphasized the ETF's mission to democratize private equity access: "XOVR ETF is making private equity investments available to retail investors, something that has traditionally been a privilege reserved for the affluent."

During a recent discussion on CNBC, Ados highlighted their evaluative process regarding potential investments in cutting-edge technologies, particularly in the field of artificial intelligence. While they have explored names such as OpenAI and Scale AI, they prioritize strong convictions over market buzz, stating, "The AI race is still in its infancy, and many aspects remain uncertain. We invest based on conviction, not hype."

SpaceX, along with its satellite internet service Starlink, stands as a focal point for ERShares’ investment strategy. Dr. Shulman expressed confidence, stating, "We have no intention of altering SpaceX's status as our leading investment. It reflects our approach of backing companies that truly have the capability to transform industries."

The fund's focus on SpaceX has not gone unnoticed, gaining substantial attention across various media platforms. For instance, a Wall Street Journal article noted SpaceX's share price fluctuating between $115.50 and $209.51. However, Dr. Shulman dismissed these figures as