SpaceX could receive about $12.4 billion in net buying from passive funds and ETFs after a Nasdaq-100 rebalance raises its weighting from 1.25% to 1.51%, JPMorgan strategist Min Moon and colleagues estimate. The adjustment is due to be announced after Friday’s close and take effect on Sept. 21. More than 1 billion shares have become eligible for trading, lifting SpaceX’s public float from below 10% soon after its IPO to nearly 30%. The company’s market value exceeds $2 trillion, making it the Nasdaq-100’s sixth-largest constituent by market value, while its current weighting ranks 19th. An earlier estimate in the existing coverage put the post-rebalance weighting at 2.25% and passive buying at $15.5 billion, while TD Securities projected a weighting above 3.5%.