Nasdaq will slash the time for large-cap companies to enter its main index, with new rules letting top-tier IPOs qualify after just 15 days of trading instead of the current three-month minimum. The exchange dropped the 10% float requirement too. SpaceX stands to benefit significantly from this Fast Entry policy when it goes public, given its expected $1.75 trillion valuation that would make it one of the Nasdaq 100's largest members.

Industry professionals including asset managers and institutional passive portfolio managers supported the timing of this proposal. The changes reflect mounting pressure on index providers to adapt as companies delay going public, keeping enormous market value out of public markets longer. With more than $30 trillion in assets benchmarked to these indexes, rule changes will determine how wealth redistributes from private to public hands.

S&P Dow Jones Indices, Nasdaq and FTSE Russell all consider similar modifications to their flagship benchmarks. The Nasdaq revisions take effect May 1, addressing modern market dynamics where companies wait longer before listing. These adjustments will allow newly public behemoths immediate inclusion in funds tracking these benchmarks, creating more efficient price discovery and potentially reducing market volatility around index rebalancing.