How to optimise RealityKit performance with many similar objects

I have code such as the following. The performance on the Vision Pro seems to get quite bad once I hit a few thousand of these models. It feels like I should be able to optimise this somehow, perhaps using instancing. Is that possible with RealityKit in visionOS 2?

let material = UnlitMaterial(color: .white)
        
let sphereModel = ModelEntity(
            mesh: .generateSphere(radius: 0.001),
            materials: [material])
        
for index in 0..<5000 {
   let point = generatedPoints[index]
    
   let model = sphereModel.clone(recursive: false)
   model.position = [point.x, point.y, point.z]
            
   parent.addChild(starModel)
 }