TLDR
- Global X ETFs launched the ORBX Space Tech ETF on Wednesday, tracking 28 pure-play space companies
- Top holdings are Rocket Lab, Planet Labs, and AST SpaceMobile
- Successful space launches grew at a 25% compounded annual rate from 2020 to 2025
- The fund has a 0.5% expense ratio and caps any single holding at 20%
- SpaceX’s expected IPO at a ~$2 trillion valuation is adding momentum to investor interest in the sector
Global X ETFs has launched a new exchange-traded fund focused on the space economy, giving everyday investors a direct way to bet on the growing commercial space industry.
The Global X Space Tech ETF, trading under the ticker ORBX, began trading Wednesday. It tracks 28 companies that earn at least 50% of their revenue from space-related activities.
Those companies include businesses building rocket launch systems, producing satellites, and offering space tourism services. Half of the companies in the fund are based in the United States.
The top three holdings by weight are Rocket Lab, Planet Labs, and AST SpaceMobile. Other names in the fund include Virgin Galactic and Globalstar, which Amazon recently agreed to acquire.
The fund is passively managed with an expense ratio of 0.50%. To avoid overconcentration, no single company can make up more than 20% of the fund.
Global X designed ORBX to focus only on pure-play space companies, unlike some other funds that mix in broader technology holdings. The firm says this gives investors more direct exposure to the sector.
“Investors are looking for ways to capitalize on space exploration but we believe existing ETF options often dilute exposure,” said Pedro Palandrani, Head of Product Research & Development at Global X.
Space Industry Growth Draws Investor Attention
From 2020 through 2025, the number of successful space launches grew at a 25% compounded annual rate, according to Morgan Stanley. The total number of objects sent to orbit rose at a 20% annual rate over the same period.
Morgan Stanley analysts said in a recent research note that investor interest in the space theme is at its highest point since the firm set up its space team nearly a decade ago.
The space economy could become a $1 trillion revenue opportunity over the next decade, according to Global X, driven by advances in reusable rockets, satellite miniaturization, and data analytics.
The launch comes after NASA’s Artemis II crew safely returned last weekend, which brought renewed public attention to space travel.
SpaceX IPO Could Reshape the Space ETF Landscape
A major upcoming event for the sector is the anticipated IPO of SpaceX, Elon Musk’s rocket company. The IPO is expected at a valuation of around $2 trillion.
SpaceX currently handles the majority of orbital launches worldwide and is developing plans to place AI data centers in orbit.
Rocket Lab, the largest single holding in the ORBX fund, has a market cap of just over $40 billion — a fraction of SpaceX’s expected valuation.
Global X says many of its current customers are already private investors in SpaceX, and ORBX gives them broader exposure to the wider industry.
The ARK Space & Defense Innovation ETF remains the largest space-related ETF at around $778 million in assets, up 81% over the last 12 months. The Procure Space ETF has risen 144% in the same period.
ORBX will review newly listed companies for potential inclusion on a regular schedule, including quarterly reconstitution dates in February, May, August, and November.
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