BlackRock to Offer Space ETF That Will Add New IPOs Within Days

BlackRock Inc. is launching a new space ETF for European investors that will add newly listed companies within 10 to 30 days.

The index of the iShares Space Technologies UCITS ETF — ticker STAR — includes an IPO fast-entry mechanism, according to a statement Tuesday. The feature will allow companies to be added shortly after listing via intra-rebalance reviews, rather than waiting for the next scheduled rebalance.

The launch comes just days after the makers of the S&P 500 index declined to tweak rules that would have enabled the rapid inclusion of mega initial public offerings including SpaceX, though ...