{"success":true,"data":{"pressRelease":{"id":"144106","rtpr_id":"nPnVH6pNa-20260915","ticker":"XOVR","exchange":"NASDAQ","all_tickers":["XOVR"],"title":"XOVR Outperforms Growth Benchmarks Since SpaceX IPO","author":"PR Newswire","published_at":"2026-09-15T13:32:08.809Z","article_body":"XOVR Outperforms Growth Benchmarks Since SpaceX IPO\nPR Newswire\n\nNEW YORK, Sept. 15, 2026\n\nThe first private-public crossover ETF and the first ETF to invest in private\ncompanies returned 5.64% from the June 12 IPO through September 4\n\nPast performance does not guarantee future results. Performance shown reflects\ncumulative return from June 12, 2026 through September 4, 2026.\n\nNEW YORK, Sept. 15, 2026 /PRNewswire/ -- ERShares today announced that the\nERShares Private-Public Crossover ETF (NASDAQ: XOVR) returned a cumulative NAV\nreturn of 5.64% from the June 12, 2026 SpaceX IPO through September 4, 2026,\noutperforming several major growth benchmarks over the same period.\n\nXOVR's ER30TR Index returned 3.83% over the period. The Russell 1000 Growth\nIndex returned 1.64%, and the Nasdaq 100 Index returned 0.47%.\n\nXOVR Performance Since August 2024 Relaunch\n\nSince its August 29, 2024 relaunch through September 4, 2026, XOVR generated a\ncumulative NAVreturn of 40.42%. XOVR outperformed the Russell 1000 Growth\nIndex  (RLG), which returned 38.18%, by 2.24 percentage points, and the Dow\nJones Industrial Average, which returned 33.72%, by 6.70 percentage points.\n\nOver the same period, XOVR delivered performance closely in line with its\ncorresponding ER30TR Index, trailing the Index's 40.86% return by just 0.44\npercentage points (44 basis points), according to Bloomberg data analytics.\n\nXOVR held SpaceX while it was privately held and continued to hold the company\nafter it entered the public markets. The position provides a current example\nof XOVR's strategy: identifying select, high-growth companies in the private\nmarkets and seeking to maintain exposure as they transition into the public\nmarkets.\n\nERShares estimates that redemption fees paid directly to the Fund added\napproximately $15.5 million to Fund assets during the post-IPO period,\nrepresenting an estimated 0.90% contribution to Fund NAV performance. These\nfees were primarily associated with institutional and short-term redemption\nactivity and benefited long-term shareholders who remained invested in the\nFund. Estimate based on Fund accounting records and internal calculations as\nof September 4, 2026.\n\n\"The period since the SpaceX IPO is a clear illustration of the private-public\ncrossover opportunity. A public listing is an important milestone, but it is\nnot the end of a company's growth story. XOVR was designed to give investors a\nsingle, publicly traded fund that can follow select companies across that\ntransition through our Venture Capital (\"VC\") Lens.\"\n\nEva Ados, COO & Chief Investment Strategist, ERShares\n\n\"Performance since the SpaceX IPO is not a forecast. It does, however,\ndemonstrate how retail investors may benefit from private-to-public equity\nexposure through key points in a company's lifecycle. During this period, XOVR\nalso outperformed its corresponding ER30TR Index, illustrating how\nprivate-company exposure may differentiate the Fund's performance from its\npublic-equity benchmark. Our recent $30 million investment in private company\nKalshi reflects that same approach. We use our VC Lens across private and\npublic markets to assess growth, innovation, competitive positioning, and\nbusiness quality.\"\n\nJoel Shulman, CEO & CIO, ERShares\n\nA Private-Public ETF for Advisors, RIAs, and Individual Investors\n\nXOVR is the first* private-public crossover ETF and the first ETF to invest in\nprivate companies. The fund combines exposure** to select private-company\ninvestments with a portfolio of publicly traded growth companies evaluated\nthrough ERShares' proprietary VC Lens.\n\nPrivate-company investing has historically been accessed through separate\nprivate funds and specialized structures. XOVR gives financial advisors, RIAs,\nand individual investors a publicly traded ETF structure they can evaluate and\npurchase through a brokerage account, with the public shares trading\nthroughout the day on NASDAQ, while maintaining a position of select privately\nheld investments in a separate sleeve. .\n\nAbout ERShares\n\nERShares is an asset management firm focused on identifying innovative,\nhigh-growth companies across private and public markets through its\nproprietary VC Lens.\n\nImportant Information\n\nThe fund's investment objectives, risks, charges and expenses must be\nconsidered carefully before investing. The prospectus contains this and other\nimportant information may be obtained by calling +1 (617) 279 0045 or by\nvisiting our website www.ershares.com (http://www.ershares.com) . Read it\ncarefully before investing.\n\nDistributed by Foreside Financial Services, LLC.\n\nPerformance data quoted represents past performance and is no guarantee of\nfuture results. Investment return and principal value of an investment will\nfluctuate so that an investor's shares, when redeemed, may be worth more or\nless than their original cost. Current performance may be lower or higher than\nthe performance data quoted. For the most recent month-end performance,\ncurrent holdings and other important information please call +1 (617) 279 0045\nor visit our website www.ershares.com (http://www.ershares.com) .\n\nImportant Information:\n\n*Basis of \"first\" claim: ERShares review of U.S.-listed open-end 1940 Act ETFs\nand public filings as of Aug 29, 2024; requires daily creations/redemptions\nand a single ETF portfolio with private-company exposure reflected in daily\nNAV alongside public equities. Excludes interval funds, closed-end funds,\nBDC/PE-manager ETFs, SPACs, and products without private-company exposure in\nNAV.\n\n**XOVR combines exposure to publicly traded growth companies and select\nprivate companies by using a venture-capital-style approach to identify\nbusinesses with characteristics that may indicate exceptional, long-term\ngrowth potential, giving investors access to promising companies across both\nthe private and public markets through a single ETF.\n\nThe Fund's investment performance may be significantly affected by changes in\nthe value of one or more large portfolio positions, which may increase the\nFund's volatility and risk.\n\nThe Fund does not directly hold SpaceX or Kalshi shares. Exposure is obtained\nindirectly through SPVs that invest in private securities with exposure to\nSpaceX. Such investments involve risks, including limited liquidity, valuation\nuncertainty, lack of certain regulatory protections, additional fees and\nexpenses, and no assurance that the SPV will achieve its investment objective.\n\nThe Fund's exposure to privately held shares of SpaceX and Kalshi represents\napproximately 21.49% and 1.92% of the portfolio as of 09/04/2026, therefore\nsubject investors to heightened concentration risk, as the Fund's performance\nmay be significantly affected by developments impacting either company. Any\nshares acquired in connection with an IPO may be subject to lock-up periods\nand other restrictions that limit the ability to sell the shares. An\ninvestment in the Fund involves risk, including the possible loss of\nprincipal.\n\nReferences to Kalshi's business, financing, valuation, investors, trading\nvolume, institutional adoption, market position, and regulatory status are\nbased on publicly reported information and company disclosures and have not\nbeen independently verified by ERShares. Such information is subject to\nchange.\n\nPrediction markets and event contracts are subject to regulatory, legal,\nmarket, operational, and adoption risks. Regulatory developments may\naffect Kalshi's business, market structure, contract availability, trading\nvolumes, and future growth.\n\nHoldings are subject to change at any time and should not be considered\ninvestment advice or a recommendation to buy or sell any security. There is no\nassurance that the Fund will increase its position in SpaceX or Kalshi, or\nthat Kalshi will complete an initial public offering or other liquidity event,\nor that any private holding will appreciate in value.\n\nThe XOVR VC (Venture Capital) Lens is ERShares' proprietary investment\nframework for evaluating public and private companies, including select\npre-IPO private companies such as SpaceX. The framework incorporates the\nEntrepreneur Factor®, which evaluates 18 qualitative and quantitative\nattributes related to leadership, governance, innovation, competitive\npositioning, growth, financial characteristics, valuation, and risk. The XOVR\nVC Lens is used to support investment research and security selection across\npublic and private markets through a research approach informed by long-term\nventure capital investing.\n\nIndex performance does not represent the fund's performance. It is not\npossible to invest directly in an index. Due to the nature of the private and\npublic holdings of XOVR, the ER30TR, S&P 500, Nasdaq-100 and Russell 1000\nGrowth Indices are unmanaged and are provided solely for informational and\ncomparative purposes . The S&P 500 is an index of 500 leading large-cap\nU.S. companies that serves as a broad benchmark for the overall U.S. stock\nmarket, the NASDAQ-100 tracks the 100 largest non-financial companies listed\non the Nasdaq Stock Market with a strong emphasis on technology and growth\ncompanies, and the Russell 1000 Index measures the performance of the 1,000\nlargest publicly traded U.S. companies by market capitalization, representing\nmost of the U.S. equity market.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/xovr-outperforms-growth-benchmarks-since-spacex-ipo-302879127.html\n(https://www.prnewswire.com/news-releases/xovr-outperforms-growth-benchmarks-since-spacex-ipo-302879127.html)\n\nSOURCE ERShares\n\n\n\nMedia@ershares.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1858376/ERShares-Logo.jpg?id=OA2949606\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPnVH6pNa-20260915","title":"XOVR Outperforms Growth Benchmarks Since SpaceX IPO","author":"PR Newswire","ticker":"XOVR","created":"2026-09-15T13:32:08.809Z","tickers":["XOVR"],"exchange":"NASDAQ","article_body":"XOVR Outperforms Growth Benchmarks Since SpaceX IPO\nPR Newswire\n\nNEW YORK, Sept. 15, 2026\n\nThe first private-public crossover ETF and the first ETF to invest in private\ncompanies returned 5.64% from the June 12 IPO through September 4\n\nPast performance does not guarantee future results. Performance shown reflects\ncumulative return from June 12, 2026 through September 4, 2026.\n\nNEW YORK, Sept. 15, 2026 /PRNewswire/ -- ERShares today announced that the\nERShares Private-Public Crossover ETF (NASDAQ: XOVR) returned a cumulative NAV\nreturn of 5.64% from the June 12, 2026 SpaceX IPO through September 4, 2026,\noutperforming several major growth benchmarks over the same period.\n\nXOVR's ER30TR Index returned 3.83% over the period. The Russell 1000 Growth\nIndex returned 1.64%, and the Nasdaq 100 Index returned 0.47%.\n\nXOVR Performance Since August 2024 Relaunch\n\nSince its August 29, 2024 relaunch through September 4, 2026, XOVR generated a\ncumulative NAVreturn of 40.42%. XOVR outperformed the Russell 1000 Growth\nIndex  (RLG), which returned 38.18%, by 2.24 percentage points, and the Dow\nJones Industrial Average, which returned 33.72%, by 6.70 percentage points.\n\nOver the same period, XOVR delivered performance closely in line with its\ncorresponding ER30TR Index, trailing the Index's 40.86% return by just 0.44\npercentage points (44 basis points), according to Bloomberg data analytics.\n\nXOVR held SpaceX while it was privately held and continued to hold the company\nafter it entered the public markets. The position provides a current example\nof XOVR's strategy: identifying select, high-growth companies in the private\nmarkets and seeking to maintain exposure as they transition into the public\nmarkets.\n\nERShares estimates that redemption fees paid directly to the Fund added\napproximately $15.5 million to Fund assets during the post-IPO period,\nrepresenting an estimated 0.90% contribution to Fund NAV performance. These\nfees were primarily associated with institutional and short-term redemption\nactivity and benefited long-term shareholders who remained invested in the\nFund. Estimate based on Fund accounting records and internal calculations as\nof September 4, 2026.\n\n\"The period since the SpaceX IPO is a clear illustration of the private-public\ncrossover opportunity. A public listing is an important milestone, but it is\nnot the end of a company's growth story. XOVR was designed to give investors a\nsingle, publicly traded fund that can follow select companies across that\ntransition through our Venture Capital (\"VC\") Lens.\"\n\nEva Ados, COO & Chief Investment Strategist, ERShares\n\n\"Performance since the SpaceX IPO is not a forecast. It does, however,\ndemonstrate how retail investors may benefit from private-to-public equity\nexposure through key points in a company's lifecycle. During this period, XOVR\nalso outperformed its corresponding ER30TR Index, illustrating how\nprivate-company exposure may differentiate the Fund's performance from its\npublic-equity benchmark. Our recent $30 million investment in private company\nKalshi reflects that same approach. We use our VC Lens across private and\npublic markets to assess growth, innovation, competitive positioning, and\nbusiness quality.\"\n\nJoel Shulman, CEO & CIO, ERShares\n\nA Private-Public ETF for Advisors, RIAs, and Individual Investors\n\nXOVR is the first* private-public crossover ETF and the first ETF to invest in\nprivate companies. The fund combines exposure** to select private-company\ninvestments with a portfolio of publicly traded growth companies evaluated\nthrough ERShares' proprietary VC Lens.\n\nPrivate-company investing has historically been accessed through separate\nprivate funds and specialized structures. XOVR gives financial advisors, RIAs,\nand individual investors a publicly traded ETF structure they can evaluate and\npurchase through a brokerage account, with the public shares trading\nthroughout the day on NASDAQ, while maintaining a position of select privately\nheld investments in a separate sleeve. .\n\nAbout ERShares\n\nERShares is an asset management firm focused on identifying innovative,\nhigh-growth companies across private and public markets through its\nproprietary VC Lens.\n\nImportant Information\n\nThe fund's investment objectives, risks, charges and expenses must be\nconsidered carefully before investing. The prospectus contains this and other\nimportant information may be obtained by calling +1 (617) 279 0045 or by\nvisiting our website www.ershares.com (http://www.ershares.com) . Read it\ncarefully before investing.\n\nDistributed by Foreside Financial Services, LLC.\n\nPerformance data quoted represents past performance and is no guarantee of\nfuture results. Investment return and principal value of an investment will\nfluctuate so that an investor's shares, when redeemed, may be worth more or\nless than their original cost. Current performance may be lower or higher than\nthe performance data quoted. For the most recent month-end performance,\ncurrent holdings and other important information please call +1 (617) 279 0045\nor visit our website www.ershares.com (http://www.ershares.com) .\n\nImportant Information:\n\n*Basis of \"first\" claim: ERShares review of U.S.-listed open-end 1940 Act ETFs\nand public filings as of Aug 29, 2024; requires daily creations/redemptions\nand a single ETF portfolio with private-company exposure reflected in daily\nNAV alongside public equities. Excludes interval funds, closed-end funds,\nBDC/PE-manager ETFs, SPACs, and products without private-company exposure in\nNAV.\n\n**XOVR combines exposure to publicly traded growth companies and select\nprivate companies by using a venture-capital-style approach to identify\nbusinesses with characteristics that may indicate exceptional, long-term\ngrowth potential, giving investors access to promising companies across both\nthe private and public markets through a single ETF.\n\nThe Fund's investment performance may be significantly affected by changes in\nthe value of one or more large portfolio positions, which may increase the\nFund's volatility and risk.\n\nThe Fund does not directly hold SpaceX or Kalshi shares. Exposure is obtained\nindirectly through SPVs that invest in private securities with exposure to\nSpaceX. Such investments involve risks, including limited liquidity, valuation\nuncertainty, lack of certain regulatory protections, additional fees and\nexpenses, and no assurance that the SPV will achieve its investment objective.\n\nThe Fund's exposure to privately held shares of SpaceX and Kalshi represents\napproximately 21.49% and 1.92% of the portfolio as of 09/04/2026, therefore\nsubject investors to heightened concentration risk, as the Fund's performance\nmay be significantly affected by developments impacting either company. Any\nshares acquired in connection with an IPO may be subject to lock-up periods\nand other restrictions that limit the ability to sell the shares. An\ninvestment in the Fund involves risk, including the possible loss of\nprincipal.\n\nReferences to Kalshi's business, financing, valuation, investors, trading\nvolume, institutional adoption, market position, and regulatory status are\nbased on publicly reported information and company disclosures and have not\nbeen independently verified by ERShares. Such information is subject to\nchange.\n\nPrediction markets and event contracts are subject to regulatory, legal,\nmarket, operational, and adoption risks. Regulatory developments may\naffect Kalshi's business, market structure, contract availability, trading\nvolumes, and future growth.\n\nHoldings are subject to change at any time and should not be considered\ninvestment advice or a recommendation to buy or sell any security. There is no\nassurance that the Fund will increase its position in SpaceX or Kalshi, or\nthat Kalshi will complete an initial public offering or other liquidity event,\nor that any private holding will appreciate in value.\n\nThe XOVR VC (Venture Capital) Lens is ERShares' proprietary investment\nframework for evaluating public and private companies, including select\npre-IPO private companies such as SpaceX. The framework incorporates the\nEntrepreneur Factor®, which evaluates 18 qualitative and quantitative\nattributes related to leadership, governance, innovation, competitive\npositioning, growth, financial characteristics, valuation, and risk. The XOVR\nVC Lens is used to support investment research and security selection across\npublic and private markets through a research approach informed by long-term\nventure capital investing.\n\nIndex performance does not represent the fund's performance. It is not\npossible to invest directly in an index. Due to the nature of the private and\npublic holdings of XOVR, the ER30TR, S&P 500, Nasdaq-100 and Russell 1000\nGrowth Indices are unmanaged and are provided solely for informational and\ncomparative purposes . The S&P 500 is an index of 500 leading large-cap\nU.S. companies that serves as a broad benchmark for the overall U.S. stock\nmarket, the NASDAQ-100 tracks the 100 largest non-financial companies listed\non the Nasdaq Stock Market with a strong emphasis on technology and growth\ncompanies, and the Russell 1000 Index measures the performance of the 1,000\nlargest publicly traded U.S. companies by market capitalization, representing\nmost of the U.S. equity market.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/xovr-outperforms-growth-benchmarks-since-spacex-ipo-302879127.html\n(https://www.prnewswire.com/news-releases/xovr-outperforms-growth-benchmarks-since-spacex-ipo-302879127.html)\n\nSOURCE ERShares\n\n\n\nMedia@ershares.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1858376/ERShares-Logo.jpg?id=OA2949606\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-09-15T13:32:08.906419702Z","server_sent_at_ms":1789479128906},"received_at":"2026-09-15T13:32:09.135Z","source_url":"https://www.prnewswire.com/news-releases/xovr-outperforms-growth-benchmarks-since-spacex-ipo-302879127.html"},"analysis":{"id":"132938","press_release_id":"144106","analysis_json":{"industry":{"label":"Capital Markets","sector":"Financials"},"redFlags":["21.49% of the portfolio is concentrated in a single private holding (SpaceX), flagged by the fund itself as heightened concentration risk","SpaceX and Kalshi exposure is indirect via SPVs with limited liquidity, valuation uncertainty, and added fees","Reported post-IPO return includes an estimated 0.90% contribution from redemption fees paid into the fund rather than pure investment performance","Self-published marketing release by the fund manager; heavy past-performance disclaimers","Kalshi's prediction-market business is subject to regulatory and legal risk, and may never complete an IPO or liquidity event"],"eventType":"operations_update","narrative":"XOVR, the first private-public crossover ETF, delivered a 5.64% cumulative NAV return from the June 12, 2026 SpaceX IPO through September 4, beating the Russell 1000 Growth's 1.64% and the Nasdaq 100's 0.47%.\n\nSince its August 2024 relaunch the fund is up 40.42%, outperforming the Russell 1000 Growth by 2.24 percentage points and the Dow by 6.70 points while trailing its own ER30TR index by just 44 basis points.\n\nRedemption fees paid directly to the fund added an estimated $15.5 million to assets in the post-IPO period, roughly a 0.90% tailwind to NAV that benefited remaining long-term shareholders.\n\nThe fund holds SpaceX (about 21.49% of the portfolio, indirectly via SPVs) and recently invested $30 million in prediction-market firm Kalshi (1.92%), concentrating performance in a small number of private positions.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"ETF manager marketing touting SpaceX-driven outperformance — low-signal promotional piece, though the 21% single-name private concentration is notable for XOVR holders."},"keyFigures":{"customDimensions":{"djia_return_since_relaunch":"33.72%","nasdaq_100_return_since_ipo":"0.47%","nav_return_since_spacex_ipo":"5.64%","er30tr_return_since_relaunch":"40.86%","er30tr_index_return_since_ipo":"3.83%","kalshi_private_exposure_weight":"1.92%","spacex_private_exposure_weight":"21.49%","redemption_fee_nav_contribution":"0.90%","cumulative_nav_return_since_relaunch":"40.42%","redemption_fees_added_to_fund_assets":"$15.5 million","russell_1000_growth_return_since_ipo":"1.64%","russell_1000_growth_return_since_relaunch":"38.18%"}},"quotedText":"The period since the SpaceX IPO is a clear illustration of the private-public crossover opportunity.","namedEntities":{"people":[{"name":"Eva Ados","role":"COO & Chief Investment Strategist, ERShares"},{"name":"Joel Shulman","role":"CEO & CIO, ERShares"}],"products":["ERShares Private-Public Crossover ETF (XOVR)","ER30TR Index","VC (Venture Capital) Lens","Entrepreneur Factor®"],"companies":[{"name":"ERShares","relationship":"fund manager / issuer of the release"},{"name":"ERShares Private-Public Crossover ETF","ticker":"XOVR","relationship":"filer (the fund itself)"},{"name":"SpaceX","relationship":"largest private holding (via SPVs)"},{"name":"Kalshi","relationship":"private portfolio investment"},{"name":"Foreside Financial Services, LLC","relationship":"distributor"},{"name":"Bloomberg","relationship":"data analytics source"}],"dollarAmounts":[{"amount":"$15.5 million","context":"estimated redemption fees added directly to Fund assets during the post-IPO period"},{"amount":"$30 million","context":"recent ERShares investment in private company Kalshi"}]},"materialImpact":{"score":2,"reasoning":"This is an issuer-promoted performance/marketing release touting benchmark outperformance since the SpaceX IPO; it discloses no new structural changes, flows, fees, or holdings beyond previously known positions. mildly positive for the fund's marketing but not market-moving."},"tickerRelevance":{"others":[{"ticker":"RLG","relevance":"benchmark index (Russell 1000 Growth) cited for comparison"}],"primary":"XOVR"},"globalImportance":15,"audienceRelevance":30,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small/niche ETF","eventGravity":"fund performance marketing release","issuerAuthored":true,"concentrationRisk":"21.49% single private position","retailFavoriteBoost":"SpaceX exposure angle drives retail curiosity","benchmarkOutperformance":true}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"XOVR, the first private-public crossover ETF, delivered a 5.64% cumulative NAV return from the June 12, 2026 SpaceX IPO through September 4, beating the Russell 1000 Growth's 1.64% and the Nasdaq 100's 0.47%.\n\nSince its August 2024 relaunch the fund is up 40.42%, outperforming the Russell 1000 Growth by 2.24 percentage points and the Dow by 6.70 points while trailing its own ER30TR index by just 44 basis points.\n\nRedemption fees paid directly to the fund added an estimated $15.5 million to assets in the post-IPO period, roughly a 0.90% tailwind to NAV that benefited remaining long-term shareholders.\n\nThe fund holds SpaceX (about 21.49% of the portfolio, indirectly via SPVs) and recently invested $30 million in prediction-market firm Kalshi (1.92%), concentrating performance in a small number of private positions.","key_figures":{"customDimensions":{"djia_return_since_relaunch":"33.72%","nasdaq_100_return_since_ipo":"0.47%","nav_return_since_spacex_ipo":"5.64%","er30tr_return_since_relaunch":"40.86%","er30tr_index_return_since_ipo":"3.83%","kalshi_private_exposure_weight":"1.92%","spacex_private_exposure_weight":"21.49%","redemption_fee_nav_contribution":"0.90%","cumulative_nav_return_since_relaunch":"40.42%","redemption_fees_added_to_fund_assets":"$15.5 million","russell_1000_growth_return_since_ipo":"1.64%","russell_1000_growth_return_since_relaunch":"38.18%"}},"named_entities":{"people":[{"name":"Eva Ados","role":"COO & Chief Investment Strategist, ERShares"},{"name":"Joel Shulman","role":"CEO & CIO, ERShares"}],"products":["ERShares Private-Public Crossover ETF (XOVR)","ER30TR Index","VC (Venture Capital) Lens","Entrepreneur Factor®"],"companies":[{"name":"ERShares","relationship":"fund manager / issuer of the release"},{"name":"ERShares Private-Public Crossover ETF","ticker":"XOVR","relationship":"filer (the fund itself)"},{"name":"SpaceX","relationship":"largest private holding (via SPVs)"},{"name":"Kalshi","relationship":"private portfolio investment"},{"name":"Foreside Financial Services, LLC","relationship":"distributor"},{"name":"Bloomberg","relationship":"data analytics source"}],"dollarAmounts":[{"amount":"$15.5 million","context":"estimated redemption fees added directly to Fund assets during the post-IPO period"},{"amount":"$30 million","context":"recent ERShares investment in private company Kalshi"}]},"model_name":"glm-5.3-flash","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-15T13:33:26.860Z","global_importance":15,"audience_relevance":30,"importance_components":{"tickerTier":"small/niche ETF","eventGravity":"fund performance marketing release","issuerAuthored":true,"concentrationRisk":"21.49% single private position","retailFavoriteBoost":"SpaceX exposure angle drives retail curiosity","benchmarkOutperformance":true}},"durationMs":42346,"modelName":"glm-5.3-flash"}}