You're not wrong, but the exposure is around 0.039% last time I looked into it. Plus you have to own a bunch of Uber, too.

Google (Alphabet) owns a big chunk of SpaceX, maybe around $7B worth now? Given their market cap of 1.856T, that ends up being ~ 0.38% SpaceX.

I've made this comment before, but I have always wondered if there are enough linearly independent SpaceX-holding funds to construct a SpaceX-matching derivative product using only publicly traded securities.

Not an expert, but I think one problem would be the redemption fees from needing to rebalance this portfolio of mutual funds

If only real life were as frictionless as arbitrage theory.

Sadly that means having to put your money in a mutual fund which one may or may not want to for various reasons