SpaceX IPO could hit popular index funds — and your 401(k) — in as little as 5 trading days as indexes relax their rules

Elon Musk's SpaceX is going public at a valuation north of $1.75 trillion, and if you hold a broad index fund in your retirement account, you're likely to end up owning a slice of it whether you buy a single share or not. For many savers, the first fund to pick it up won't be a famous tech fund or even an S&P 500 fund. It'll be a plain total-market fund, possibly within five trading days of the IPO.

That's the result of index providers relaxing rules written more than two decades ago specifically to keep unprofitable, unproven companies out of the funds millions of Americans rely on for retirement. SpaceX hasn't turned an annual profit. It's about to enter the indexes anyway.

Here's how that happened, what it means for the money you've already invested, and what your options actually are.

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SpaceX filed its S-1 — the formal registration document a company must submit before selling stock to the public — with the U.S. Securities and Exchange Commission on May 20, 2026 (1).

A target valuation around $1.75 trillion, which would make it one of the largest U.S. companies by market cap on day one.