The Destiny Tech100 ETF, which tracks a portfolio of promising private tech companies, is experiencing a notable surge in its price. This movement is largely attributed to the significant appreciation in the valuation of SpaceX, one of its key holdings. SpaceX, currently valued at approximately $350 billion, has seen its valuation skyrocket, driven by its strategic positioning and investor enthusiasm following the U.S. presidential election. The election of a president supportive of SpaceX's CEO, Elon Musk, has bolstered investor confidence, leading to a substantial increase in the ETF's value. Additionally, the broader tech sector has been buoyed by strong performances from other companies in the ETF's portfolio, such as NANO Nuclear Energy and Reddit, which have also seen impressive gains this year.
The Destiny Tech100 ETF (DXYZ) rose to $63.32, marking a 5.32% increase as of 9:56 AM ET on December 23rd.