TradingKey – As of June 16, Eastern Time, the Tema Space Innovators ETF ( NASA) has delivered a cumulative return of approximately 32.7% since its listing on March 31. Leveraging its unique positioning as the ‘first pure-play space-themed ETF to indirectly hold pre-IPO equity in SpaceX,’ the fund attracted over $3 billion in inflows in just over two months, surpassing established peers to become the world’s largest space-themed ETF.

However, as SpaceX ( SPCX) completed its IPO on June 12 and surged approximately 50% in the three trading days following its debut, NASA’s scarcity premium has been rapidly eroding. Its share price has pulled back to $31.98 from an all-time high of $42.68 in late May, and fell more than 9% on the first day…