SpaceX-Based Funds Pull Market Maker GTS Into Ownership Battle

Global Trading Systems LLC affiliates are trying to cut out an investor in funds holding SpaceX shares that soared in value on hype about Elon Musk’s plans to take his rocket business public, an unsealed lawsuit says.

Trellis Software Inc. is suing GTS Management Partners LLC, co-founder Ari Rubenstein, another top executive, and ClearList Holdings Inc., which operates a broker-dealer and registered investment adviser. The lawsuit seeks to halt arbitration proceedings bringing a “baseless” challenge to Trellis’ alleged 10% stake in the holding entity, which indirectly controls funds that allegedly doubled in value across 2025 on the prospect of ...