10/14/25 09:12 ET

ERShares' Private-Public Crossover ETF (XOVR) has become the first ETF to provide investors exposure at the IPO stage. This milestone - historically reserved for venture capital, insiders, and institutions - was illustrated with Klarna's recent IPO.

XOVR was relaunched on August 30, 2024, when ERShares combined its proprietary Entrepreneur 30 Total Return Index (ER30TR) with selective private equity exposure, building a structure designed to capture growth opportunities across both the public and private markets.

Expanding Access to the IPO Stage

Traditionally, ETFs only gave investors access to companies after they became public. By incorporating Klarna shares ahead of its IPO, XOVR demonstrated that exposure to the private-to-public transition can be delivered within a regulated, liquid framework.

Eva Ados, COO and Chief Investment Strategist at ERShares:

"It's time retail investors finally get a seat at the IPO table. For too long, this dynamic stage of growth has been reserved for institutions and insiders only. With Klarna, XOVR demonstrated that the gap can be narrowed - offering everyday investors exposure at the same point insiders participate. Markets are at a turning point, and we believe the opportunity to expand private equity exposure has never been more compelling."

Joel Shulman, Founder and CIO of ERShares:

"XOVR is not just another ETF - it's a breakthrough. We anchor in the ER30TR Index to capture leading-edge public innovators, while our private equity allocation is designed to extend access to opportunities that retail investors have historically been shut out of."

He continued:

"Much of today's wealth creation occurs before the opening bell ever rings. We believe XOVR helps break down that barrier and opens the door for everyday investors to participate in growth across the full cycle - private and public - all in one ETF, with daily liquidity."

Fund Risks can include and are not limited to: Absence of Prior Active Market Risk, Management Risk, New ETF Provider, Common Stock Risk, Market Risk, Concentration Risk, American Depositary Receipts, Early Closing Risk, Exchange Trade Fund Risk, Private Equity Investment Risk, Illiquidity Risk, Valuation Risk, Exit Strategy Risk.

Distributed by Foreside Financial Services, LLC

Sign Up for InsightER

Subscribe to our newsletter to stay updated about the global markets.