Pension funds are (rightly) beginning to scrutinise the SpaceX IPO. They will likely take action to shield their funds from automatically buying SpaceX shares. Elon Musk's plan to turn passive investment funds into his bagholders is probably not going to work.

[https://www.reuters.com/legal/government/investor-group-urges-sec-scrutinize-spacex-ipo-filing-avoid-conflicts-2026-05-06/](https://www.reuters.com/legal/government/investor-group-urges-sec-scrutinize-spacex-ipo-filing-avoid-conflicts-2026-05-06/)

An investor group (SOC Investment Group) that advises pension funds said this: "We are specifically concerned that SpaceX's IPO will expose numerous investors – many ​unwillingly – to a company whose value may decline once its financial disclosures can ​be independently assessed and verified".

This indicates that institutions are now paying attention to the SpaceX IPO, and will likely take steps to protect their funds and their customers' funds from become SpaceX exit liquidity.