SpaceX IPO spurs ETF guardrails as XOVR curbs hot money
ERShares’ XOVR ETF, which holds SpaceX, is instituting a shareholder-protection plan that can reject Creation Units and impose up to a 2% redemption fee on redemptions to deter disruptive short‑term inflows ahead of SpaceX’s IPO. The rules apply to primary-market trading (creations/redemptions); secondary trading continues. XOVR has traded at a premium to NAV as inflows surge, a dynamic critics say could dilute long-term holders; analysts weigh the impact on rivals like RONB and NASA (Tema Space Innovators ETF).