Galactic American IPOs set to test passive investors as index rules shift

SpaceX CEO Elon Musk views the wreckage of his Starship SN8 in 2020. Photo: Steve Jurvetson via Wikimedia.
SpaceX CEO Elon Musk views the wreckage of his Starship SN8 in 2020. Photo: Steve Jurvetson via Wikimedia.
A wave of massive initial public offerings, including SpaceX, Anthropic and OpenAI, is set to hit US equity markets just as index providers move to fast-track their inclusion. Asset managers expect this combination could inject fresh volatility into passive investment strategies.

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