ERShares

08/10/2026

Prediction markets are moving further into the financial mainstream, and we believe the category is still in the early stages of its development.

In this discussion, we share our investment perspective on Kalshi, the growth of regulated prediction markets, and their potential role in information and price discovery.

We also discuss why XOVR ETF has increased its exposure to Kalshi and how the investment fits within our broader approach to identifying select private companies that we believe have the potential to become long-term category leaders.

As finance and technology continue to converge, we believe prediction markets represent an increasingly important area for investors to understand.

Learn more about XOVR ETF and its private-public crossover investment strategy at ERShares.com.

Investing involves risk, including possible loss of principal. Private-company investments involve additional risks, including limited liquidity and valuation uncertainty. Holdings are subject to change. References to specific companies are for informational purposes and should not be considered a recommendation to buy or sell any security.

https://youtu.be/LRRYzrlAjW0



The exposure to Kalshi has a 1.68% weight as of 07.28.26. Distributed by Foreside Fund Services, LLC

Any views regarding the future growth, profitability, adoption, or market position of Kalshi, prediction markets, or other private companies represent the opinions of the adviser as of the date presented and are subject to change. There can be no assurance that such expectations will be realized.

Prediction markets are moving further into the financial mainstream...

08/07/2026

Why is SpaceX trading higher today (8/6) despite unlocking more than 900 million shares?

As discussed in the video, many short sellers had been hedging locked up shares and are now covering their short positions.

S3 partners estimates short interest has fallen from roughly $30b to $25b. The larger public float also allows index funds to increase their positions, creating additional demand.

Sometimes a major share unlock can be bullish rather than bearish.

Learn more about XOVR ETF and its private-public crossover investment strategy at ERShares.com.

Investing involves risk, including possible loss of principal. Private-company investments involve additional risks, including limited liquidity and valuation uncertainty. Holdings are subject to change. References to specific companies are for informational purposes and should not be considered a recommendation to buy or sell any security.

https://youtu.be/_P55PYQWEB4

Why is SpaceX trading higher today (8/6) despite unlocking more tha...

07/28/2026

What’s behind the recent SpaceX selloff and could it create a long-term opportunity?

Joel Shulman, CIO of ERShares, discusses the outlook for SpaceX, Starship, Starlink and Elon Musk’s long-term strategy, including what investors should consider beyond short-term market volatility.

What’s behind the recent SpaceX selloff and could it create a long-...

07/22/2026

XOVR’s SpaceX investment gained more than $183 million in unrealized appreciation between March 30 and June 15, 2026 — and much of that appreciation happened before SpaceX began publicly trading.

That is the point.

By the time a great private company reaches an IPO, a meaningful part of the value creation may already have happened. We believe investors should not necessarily have to wait until the public-market debut to participate in a company’s growth story.

In this Schwab Network interview, ERShares Founder and CIO Dr. Joel Shulman explains why we believe pre-IPO investing can matter, why SpaceX remains a high-conviction long-term holding after the IPO, and why XOVR was built to invest across the private-to-public transition — not simply trade the IPO moment.

From March 30 through June 15, 2026, XOVR appreciated approximately 30.71%, with SpaceX exposure contributing significantly to the Fund’s performance.

The bigger question for investors: How much value creation are you missing by only showing up after the IPO?

The ERShares Private-Public Crossover ETF (NASDAQ: XOVR) recorded m...

07/16/2026

Joel Shulman Ph.D., CFA recently joined Bloomberg Television to discuss XOVR, SpaceX, SpaceX’s inclusion in the Nasdaq-100, and ERShares’ public-private crossover investment strategy.

Key highlights:

• XOVR returned 27.45% in Q2 2026 and *5.30% in June.
• SpaceX contributed approximately $84 million in June unrealized appreciation, representing approximately 75% of the Fund’s monthly return.
• XOVR reported approximately $387 million in SpaceX exposure at quarter end.

ERShares pioneered the category by launching the first ETF with exposure to SpaceX and the first ETF designed to provide private equity exposure within an ETF structure.

Past performance is no guarantee of future results. Disclosures: https://entrepreneurshares.com/disclosures/

06/18/2026

Joel Shulman joined CNBC on the day of the SpaceX IPO to discuss the IPO, the broader market reaction, and what public trading could mean for investors following SpaceX.

Important disclosures: https://entrepreneurshares.com/disclosures/

https://youtu.be/5Qby13x1uhE

Joel Shulman joined CNBC on the day of the SpaceX IPO to discuss th...

06/10/2026

Joel Shulman of ERShares joined FOX Business to discuss the current market environment, IPO activity, and the growing investor interest in private-market access through public vehicles.

In the segment, Joel shares his perspective on market leadership, innovation-driven growth, and why companies such as SpaceX continue to shape investor conversations around the next generation of public and private market opportunities.

Learn more about ERShares and its disclosures: ershares.com

https://youtu.be/J-LjU0RAjhM

Joel Shulman of ERShares joined FOX Business to discuss the current...

06/02/2026

ERShares’ Joel Shulman joined CNBC to discuss XOVR ETF’s latest SpaceX exposure update. XOVR added approximately $35 million to its SpaceX exposure, bringing total SpaceX exposure to approximately $281 million, or about 23% of Fund assets, as of 5/21/2026.

As more high-growth companies stay private longer, XOVR was designed to provide investors with private-company exposure alongside publicly traded equities within one ETF structure.

Holdings and exposures are subject to change. Disclosures: https://entrepreneurshares.com/disclosures/

https://youtu.be/xeXMt7FTgMY

ERShares’ Joel Shulman joined CNBC to discuss XOVR ETF’s latest Spa...

05/22/2026

XOVR ETF added approximately $35 million to its SpaceX exposure, bringing total SpaceX exposure to approximately $281 million, or about 23% of Fund assets, as of 5/21/2026.

As investors search for ways to get SpaceX exposure before the IPO, XOVR offers exposure to private companies alongside publicly traded equities within a single ETF structure.

XOVR is the first ETF designed to provide private-equity exposure alongside public equities in one ETF structure. SpaceX exposure is obtained indirectly through a special-purpose vehicle.

Disclosures: Holdings are subject to change. Investing involves risk, including possible loss of principal.