NASA ETF Misleading on SpaceX: It's indirect exposure, not Direct
I’ve been looking at the Tema Space Innovators ETF, ticker NASA, because it is being discussed as one of the public ways to get SpaceX exposure (~5% of NAV) before IPO.
It is strange how the SpaceX exposure is being presented.
They keep making it sound like they have direct SpaceX shares and claim "direct exposure" but from what I see it’s actually through an SPV (Special Purpose Vehicle). That’s not the same thing, lol.
https://temaetfs.com/press/tema-launches-space-innovators-etf
If it’s SPV exposure, just say indirect exposure. Don’t make retail investors think they’re buying actual SpaceX shares inside the ETF that’s illegal- like what’s wrong with their lawyers?
Honestly feels like something the SEC should look at to protect retail investors' interest esp with all the SpaceX hype right now. Some of the other holdings also look like tiny microcap and nanocap international names, kind of like the Cathie Wood playbook. This can push the prices up just from its own buying pressure but what happens when flows slow or they need to sell?