KB Asset Management said on the 11th it launched the RISE US Space & Satellite Communications ETF, a product built around the view that the space industry's center of gravity is moving from spacecraft manufacturing and launch toward communications and data services. The fund invests in 10 core U.S. companies across satellite manufacturing and launch, communications equipment and networks, communications services, and data services, and includes only companies whose satellite communications-related revenue accounts for at least 50% of total sales. Its top holdings as of the 10th are SpaceX at 23.2%, Lumentum at 19.6%, Ciena at 16.5% and Rocket Lab at 14.0%, with the rest allocated to Teledyne Technologies, AST SpaceMobile, Viasat, Viavi Solutions, Planet Labs and Iridium Communications. A single stock can account for as much as 25% at regular rebalancing, and the portfolio is adjusted quarterly. KB Asset Management said the global satellite communications and data services market is valued at $4.74 trillion in 2024, accounting for 86.6% of the overall space industry and standing at roughly 6.5 times the size of the $73 billion manufacturing and launch market. The firm said the ETF is designed to offer more concentrated exposure to the satellite communications segment than U.S. space-themed ETFs in South Korea that spread investments across defense, launch vehicles and aerospace.