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BREAKING: SpaceX is officially joining the Nasdaq-100 today. SpaceX is worth $2.1 trillion, one of the most valuable companies in the United States. Yet it is entering the Nasdaq-100 with a weight of less than 1 percent. SpaceX only sold less than 5 percent of its shares in last month's IPO, keeping 95 percent locked up. That means the Nasdaq is treating a $2.1 trillion company like a $300 billion one for now. So today, $800 billion worth of index funds including the popular QQQ ETF with $500 billion in assets, are buying SpaceX, but only a tiny fraction of what they would normally purchase for a company this size. Here is where it gets interesting. Index funds do not choose what to buy. They are legally required to hold every company in the index in proportion to its available float. When that float increases, they must buy more automatically. As SpaceX employee lockup periods expire over the next 12 months, more shares will enter circulation. Every time that happens, $800 billion in index funds are required to increase their SpaceX position automatically to keep up with the new weighting. More shares available means more forced buying. On a schedule determined entirely by when employees are allowed to sell. SpaceX also fast-tracked its own Nasdaq inclusion by approaching index providers earlier this year and requesting early entry, because passive index fund demand creates guaranteed price support from day one. The float and inclusion timeline were structured to create 12 months of automatic, legally guaranteed buying from the world's largest index funds. That buying has not even started yet.