New York, USA, June 8, 2026 (GLOBE NEWSWIRE) — Key highlights
- XOVR’s long-term shareholders have already benefited from approximately $50 million in unrealized appreciation reflected in the Fund’s net asset value as a result of its exposure to SpaceX.
- ERShares is implementing a shareholder protection plan ahead of SpaceX’s IPO to help mitigate potentially disruptive trading activity in the near term. For questions from investors, please refer to the XOVR FAQ page and prospectus supplement.
- The Fund expects to use the tools described in the Fund’s prospectus to limit potential negative harm to the Fund. These tools include the ability to reject certain Creation Units where acceptance could have an adverse effect on the Fund or on the rights of the Fund’s beneficial owners, which has already come into effect.
- From the day of SpaceX’s initial public offering, a variable redemption/transaction fee, payable to the Fund, of up to 2% may be levied on redemptions.
- The creation and redemption processes apply to shareholders purchasing or redeeming Creation Units and do not directly apply to shareholders purchasing or selling Shares on the Secondary Market. However, the impact of these processes could result in secondary market trading discounts compared to the fund’s net asset value or other significant price impacts on secondary trading in fund shares, beginning on the day of SpaceX’s initial public offering.
- XOVR was the first ETF to pioneer the private-public crossover structure, combining publicly traded growth stocks with select exposure to private companies within a single ETF.
- XOVR applies ERShares’ VC Lens with a long-term horizon. SpaceX is a long-term investment for the Fund and is accessed indirectly through a special purpose vehicle.
ERShares today announced that the ERShares Private-Public Crossover ETF, ticker XOVR, has established a shareholder protection plan ahead of SpaceX’s initial public offering. The plan is intended to help protect long-term shareholders and retail investors from disruptive short-term trading activity that could impose costs, liquidity pressures or potential dilution of the value created by the Fund’s SpaceX exposure.
XOVR’s SpaceX position recently contributed approximately $50 million in unrealized appreciation reflected in the Fund’s net asset value to shareholders. ERShares said the shareholder protection plan is intended to help preserve that value for long-term investors who participated in the Fund’s private-public crossover strategy prior to the IPO.
“We invest with a long-term horizon, applying a VC lens, similar to the way venture capital investors evaluate category-defining companies before broader public market recognition. SpaceX is a long-term conviction company for
XOVR was the first ETF to pioneer the private-public crossover structure, combining publicly traded growth stocks with select exposure to private companies within a single ETF. The Fund applies ERShares’ VC Lens investment framework and is built for long-term exposure to category-defining innovation companies in public and private markets. XOVR’s SpaceX exposure is obtained indirectly through a special purpose vehicle, and ERShares views SpaceX as a long-term conviction company.
Other ETFs that hold pre-IPO securities have experienced significant subscriptions and redemptions in the days before and after high-profile IPOs. Such activities may impose transaction costs, liquidity pressures and potential dilution to existing shareholders, especially where a fund holds private or less liquid positions.
To address these risks,
From the day of SpaceX’s initial public offering, a variable redemption/transaction fee payable to the Fund of up to 2% of the value of the Creation Units subject to the transaction may be imposed on the redemption. Please note that the impact of these processes could result in secondary market trading discounts compared to the fund’s net asset value or other significant price impacts on secondary trading in fund shares beginning on the day of SpaceX’s initial public offering.
“Retail investors should not be disadvantaged by large short-term trading flows around a major IPO,” Shulman said. “These actions are intended to help protect shareholders, support fair treatment and preserve the value created by XOVR’s long-term exposure to private and public innovation leaders.”
For more information about XOVRincluding holdings, risks, fees and disclosures, users can visit entrepreneursshares.com.
About ER shares
ERShares is an asset management company focused on innovation, growth and private-public market investments. The company applies a VC Lens investment framework to identify companies with category leadership, scalable growth potential and long-term value creation opportunities in public and private markets.
Important revelations
Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. This and other information can be found in the Fund’s prospectus, which you should read carefully before investing. Additional information is available at https://entrepreneurshares.com/disclosures/
