SpaceX lands on the US stock market as index inclusion rules face reassessment

Both financial advisors and asset management institutions believe that either approach may serve investors’ interests, but balancing the two requires careful consideration of the risk tolerance and volatility endurance implied behind the index rules; in the past, the market often packaged index investing as a set of “one-size-fits-all” standardized solutions. Dina Ting, Head of Global Index Portfolio Management at Franklin Templeton, said: “IPOs are just a superficial hot spot; the core issue lies in index construction methodology. Investors must pay attention to this—what assets you ultimately hold depends entirely on which index you track.” Investors and index compilers note that SpaceX has kicked off this wave of major IPOs, and this year, leading artificial intelligence companies Anthropic and OpenAI may also go public one after another, prompting the market to reassess which type of index better aligns with their own expected risk-return profiles. Currently, Nasdaq has decided to quickly include SpaceX in its flagship index, the Nasdaq 100, while S&P Dow Jones Indices has opted to postpone inclusion. These two very different approaches further reinforce Nasdaq’s label: it is suitable for investors willing to endure sharp price volatility in pursuit of higher returns.