SpaceX to join the Nasdaq-100 in a fast-tracked process that will drive huge ETF buying demand

The stock of SpaceX continues its consolidation phase on the New York Stock Exchange one week after its Nasdaq listing. Samuel Boivin | Nurphoto | Getty Images SpaceX became one of the quickest additions ever to the Nasdaq-100 index, setting up a fresh wave of buying from passive investors less than a month after the company's blockbuster public debut . Nasdaq announced after the close Friday that SpaceX qualifies for inclusion in the benchmark technology index. Assuming the company meets the requirements, index-tracking funds and other product sponsors would begin purchasing shares after the market closes on July 6, with SpaceX officially joining the Nasdaq-100 before trading begins on July 7. More than $800 billion tracks the index, including the Invesco QQQ Trust (QQQ) , which is one of the most popular securities traded each day and is seen as a barometer for the artificial intelligence bull market. The aerospace and satellite company is expected to enter the index with a weighting of less than 1%. Adding SpaceX this quickly would make the Elon Musk company one of the first beneficiaries of Nasdaq's recently adopted fast-track inclusion framework for newly public companies. The changes allow some large IPOs to become eligible for the Nasdaq-100 after just 15 trading days, dramatically shortening what had historically been a far longer waiting period. …