Why won't SpaceX be added to the S&P 500 after its IPO?

SpaceX does not meet the S&P 500's profitability requirements. S&P Dow Jones requires companies to be profitable in their most recent quarter and across the previous four quarters combined, while SpaceX reported a $4.94 billion net loss in 2025.

How valuable is SpaceX expected to be when it goes public?

SpaceX is expected to debut with a valuation of approximately $1.75 trillion, making it one of the largest public listings in history. Despite its size, S&P Dow Jones said market capitalisation alone is not enough to qualify for index inclusion.

Why is S&P 500 inclusion important for a newly listed company?

S&P 500 membership can trigger automatic buying from passive index funds that track the benchmark. Because trillions of dollars are tied to S&P 500 funds, inclusion often creates a significant source of institutional demand for a stock.

How could the S&P 500 exclusion affect SpaceX shares?

Without immediate S&P 500 inclusion, SpaceX will not benefit from automatic purchases by S&P-tracking funds. This may reduce demand compared with what some investors expected following such a large public listing.

Will SpaceX be included in any major stock indexes?

Yes. Nasdaq has reportedly fast-tracked SpaceX for potential inclusion in the Nasdaq 100. If approved, index funds tracking the Nasdaq 100 would be required to purchase SpaceX shares.

Why did S&P Dow Jones refuse to make an exception for SpaceX?

S&P Dow Jones said exceptions should not be granted solely because of a company's size or valuation. The index provider maintained that profitability requirements remain essential regardless of how large a company becomes.

How much Bitcoin does SpaceX hold?

According to its filing, SpaceX holds 18,712 Bitcoin with a reported cost basis of approximately $661 million. This means SpaceX investors receive indirect exposure to Bitcoin through the company's balance sheet.

Why does SpaceX's Bitcoin holding matter to investors?

Investors buying SpaceX shares gain exposure not only to the company's space and satellite businesses but also to Bitcoin price movements. Changes in Bitcoin's value could affect SpaceX's reported earnings and balance sheet over time.

Image for illustrative purposes only. Not a real photo.

SpaceX blocked from S&P 500 despite mega IPO

Written by Liezl GambePublished Jun. 5 2026Last Updated Jun. 5 2026

SpaceX will not be added to the S&P 500 following its highly anticipated public listing after S&P Dow Jones confirmed it will maintain existing eligibility rules despite the company's expected $1.75 trillion valuation.

The index provider said companies must remain profitable in their most recent quarter and over the previous four quarters combined to qualify for inclusion, a requirement SpaceX does not currently meet after reporting a $4.94 billion net loss in 2025.

“Making exceptions because companies are so large and have been private so long yet are still not profitable didn’t make a great deal of sense,”

Said B. Riley Wealth chief market strategist, Art Hogan.

The decision means trillions of dollars managed by passive S&P 500 index funds will not automatically purchase SpaceX shares following the company's public debut, removing a significant source of institutional demand.

Nasdaq has taken a different approach by fast-tracking SpaceX for potential inclusion in the Nasdaq 100, which could trigger buying from index funds that track the technology-focused benchmark.

SpaceX disclosed in its registration filing that it holds 18,712 Bitcoin acquired at a cost basis of approximately $661 million, giving shareholders indirect exposure to the cryptocurrency through the company's balance sheet.

Analysts have also warned that upcoming mega listings including SpaceX, OpenAI and Anthropic could absorb substantial market liquidity, potentially affecting investment flows across technology, artificial intelligence and crypto markets.

At the time of reporting, Bitcoin price was $61,810.89.