Little-known ETF gains from SpaceX addition

The fund has since seen the best stretch of flows in its seven-year lifespan

- Bloomberg

An exchange-traded fund (ETF) from a relatively unknown shop is catching the attention of online traders and gathering flows after investing in Elon Musk's SpaceX.

The ERShares Private-Public Crossover ETF (ticker XOVR) has raked in more than $120 million since buying shares of the private rocket and satellite company in December. That's the best stretch of flows in its seven-year lifespan, and it's helped the fund grow its assets to $250 million.

Major money managers from BlackRock Inc. to Invesco Ltd. are competing to offer investors access to private markets through ETFs. But as of Friday, XOVR is the only US-listed ETF that holds SpaceX, according to CFRA Research, giving smaller investors exposure to one of the hottest private companies.