Rocket Lab

• A blockchain token designed to track the price of Rocket Lab Corporation (NASDAQ: RKLB).

• It is not a share. Holding the token does not confer ownership of the company, voting rights, or a direct claim against it.

• It offers fractional, round-the-clock price exposure without opening a foreign brokerage account.

• Founded: 2006

• Headquarters: Long Beach, California, United States

• CEO: Peter Beck (founder)

• Listed on: Nasdaq (RKLB)

• Sector: Space launch and spacecraft

• Rocket Lab provides small satellite launch services through its Electron vehicle and builds spacecraft components.

• Its larger Neutron rocket is intended to compete for medium-lift missions.

• It remains unprofitable and is dependent on launch cadence and government contracts.

• Space Systems, building satellites and components, is the larger segment by revenue.

• Launch Services covers Electron and HASTE missions.

• Neutron is its medium-lift rocket in development.

• You get price exposure to the underlying instrument.

• You do not get shareholder voting rights.

• Dividend or distribution treatment depends on the issuer's structure and is often not passed through.

• You take on issuer and custodian risk in addition to the price risk of the underlying.

Pros:

• Electron is the most frequently launched US rocket after SpaceX's Falcon 9.

• It is vertically integrated.

• It has a large contract backlog.

Cons:

• Neutron has faced delays.

• It is not yet profitable.

• SpaceX dominates the launch market.

• Counterparty risk: if the issuer or custodian fails, the backing may not be recoverable.

• Tracking risk: the token price can diverge from the underlying, particularly outside US market hours when the underlying does not trade.

• Liquidity risk: on-chain liquidity is thinner than the underlying market, so spreads can widen sharply.

• Regulatory risk: India does not yet have a settled framework for tokenised equities, and tax treatment remains unclear.

• Price risk specific to the underlying instrument.