The Tema Space Innovators ETF (NYSE:NASA) has emerged as one of Wall Street's hottest ways to position for the highly anticipated IPO of SpaceX, crossing $1 billion in assets under management just 37 trading days after launch as investors rush for exposure to the booming commercial space economy.

Launched with only $1 million in seed capital, the actively managed ETF has rapidly grown into the largest space-focused ETF in the U.S. in just weeks, fueled by surging interest in private-market access to Elon Musk's rocket and satellite company ahead of what many expect could become one of the largest IPOs in history.

In an exclusive interview with Benzinga, Tema founder and CEO Maurits Pot said the commercial space industry is "still in the early innings."

"The space economy is nuanced, but the thesis for NASA is straightforward," Pot told Benzinga. "Forecasts suggest the space economy is on track to nearly triple by 2035, yet no ETF had been built to capture the theme while including the industry's dominant company, SpaceX."

No SpaceX, No Liftoff

Pot made an interesting comparison to put the importance of SpaceX exposure to perspective.

“We felt a space ETF without SpaceX was like a semiconductor ETF without Nvidia,” he said, making us think how pointless is chip industry exposure by removing Nvidia Corp (NASDAQ:NVDA) from a portfolio.

Investor demand for SpaceX exposure has become a key driver of the fund's meteoric rise. However, Pot said the broader transformation taking place within the space economy is equally important.

"SpaceX is a genuinely singular company, and there's ...