##  [# $600B Today, $1.8T by 2035: The Space Investing Thesis](/sections/podcasts/600b-today-18t-2035-space-investing-thesis) 

 

# $600B Today, $1.8T by 2035: The Space Investing Thesis

 

 

The SpaceX hype train was only a preview of the revolutions happening in the space industry. VanEck’s Nick Frasse talks candidly about the current opportunities and how they built the [**VanEck Space ETF (WARP)**](https://www.etf.com/WARP) to capture the winners today and winners two decades from now that we can’t even predict on this episode of *Behind the Ticker.*



 

 

 

 

 [![BehindThetickerImage_V2](/sites/default/files/styles/author_image_icon/public/2026-01/BehindThetickerImage.png?itok=OVcBTS2u "BehindThetickerImage_V2")](/authors/behind-ticker) 

[By Behind The Ticker](/authors/behind-ticker)

 Jul 16, 2026

 Edited by: ETF.com Staff

 

 

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In this episode of *Behind the Ticker,* Brad Roth, CIO of Thor Financial Technologies, chats with Nicke Frasse, Product Manager at VanEck, about thematic investing, the space industry boom, capturing today and future winners in that space, and the [**VanEck Space ETF (WARP)**](https://www.etf.com/WARP)**.** Prefer to watch this conversation? You can do that [**here**](https://www.etf.com/sections/podcasts/behind-ticker-warping-space-vaneck) or on our [**YouTube channel**](https://youtu.be/Z3c0NHsfPhQ).

- **Nick Frasse's path to VanEck was anything but linear.** He started in advisory work, moved to a mutual fund sales desk at Franklin, and eventually shifted from sales into product management at VanEck, where he now leads thematic ETFs like semiconductors, robotics, and space.
- **VanEck's thematic philosophy centers on discipline, not trend-chasing.** The firm only builds a fund when there's a real universe of pure-play companies deriving 50%+ revenue from a theme, avoiding the common failure mode of ETFs stuffed with conglomerates that merely touch a theme.
- [**WARP,**](https://www.etf.com/WARP) **VanEck's space ETF, holds 20 pure-play names and was deliberately written with vague index rules.** Frasse's reasoning is that nobody truly knows what the space industry will look like in five to ten years, so the fund needs room to capture emerging opportunities like reusable rockets, moon mining, or orbital data centers.
- **The macro thesis rests on collapsing mass-to-orbit costs, dropping from over $50,000/kg in the shuttle era to under $200/kg with Starship.** This unlocks entire new industries, and while government contracts still dominate current revenue, Frasse expects commercial applications to grow rapidly as the space economy scales from $600B today toward a projected $1.8T by 2035.

To learn more about WARP and VanEck, go [**here**](https://www.vaneck.com/WARP).

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*Disclaimer: The market insights, projections, and investment strategies expressed in this article are solely those of the contributor and do not necessarily reflect the views or opinions of ETF.com. This content is provided for informational purposes only and does not constitute financial, investment, or legal advice.*



 

 

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 Related Topics  [Equity](http://www.etf.com/topics/equity) 

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 [VanEck](http://www.etf.com/topics/vaneck) 

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