The crypto industry has reached a major milestone. On April 9, 2026, Gate officially opened digital Pre-IPOs participation to over 51 million users worldwide. Following this, Gate will launch the first Pre-IPOs subscription for SpaceX (SPCX) on April 20, with a minimum entry of just 100 USDT.
Why SpaceX? One of the Most Anticipated IPOs in History
Founded by Elon Musk in 2002, SpaceX is the world’s largest commercial aerospace company and the operator of the Starlink satellite network. In early 2026, SpaceX merged with xAI, boosting its overall valuation to approximately $1.25 trillion. According to market sources, SpaceX secretly filed for an IPO with the US SEC on April 1, targeting a valuation above $2 trillion and aiming for the largest IPO ever.
Because of this, Gate selected SpaceX as its first Pre-IPOs project, giving everyday users early access to invest in a top-tier unicorn.
Key Parameters of the First SpaceX (SPCX) Pre-IPO Project
| Item | Details |
|---|---|
| Project Name | SpaceX |
| Asset Certificate Symbol | SPCX |
| Subscription Price | $590 / SPCX |
| Total Subscription Amount | 33,900 SPCX |
| Total Value | Approx. $20,001,000 |
| Implied Market Cap | Approx. $1.4 trillion |
| Subscription Currencies | USDT or GUSD |
| Minimum Subscription per Order | 100 USDT / 100 GUSD |
| Individual Cap | 339 SPCX |
| Subscription Fees | No implied handling or custody fees |
Data source: Official Gate announcement.
Subscription Timeline and Distribution Details
- Subscription Period: April 20, 2026, 10:00 UTC to April 22, 2026, 10:00 UTC—a 48-hour window.
- Distribution Time: SPCX asset certificates will be distributed in full by May 6, 2026, 10:00 UTC.
- Unlock Mechanism: 100% unlocked. After subscription, SPCX asset certificates will enter the pre-market trading phase fully unlocked, allowing users to buy and sell at any time.
How to Participate
Step 1: Enter the Pre-IPOs Section
Log in to your Gate account and complete identity verification (KYC). Navigate to the "Pre-IPOs" or "PreMarket" section. Currently, you need to join the waitlist to receive subscription notifications as soon as they’re available.
Step 2: Prepare USDT or GUSD
Ensure your account has sufficient USDT or GUSD balance. You can obtain GUSD by minting, buying, or depositing on the platform.
Step 3: Subscribe
The subscription allocation uses an "average hourly locked amount" mechanism—the earlier you participate, the higher your allocation weight. VIP 5 and above users, as well as Super Agents, are also eligible for additional free airdrops.
Product Mechanism: Mirror Note
Gate Pre-IPOs are not traditional equity offerings. The SPCX you purchase is a Mirror Note, designed to track SpaceX’s market value before and after its IPO. Gate hedges its exposure by acquiring SpaceX shares in the market, providing users with various exit options that reflect the fair market value of the target company.
Simply put, the SPCX certificate is like a "forward warrant" tracking SpaceX’s future IPO price. After the IPO lock-up period, users can redeem their certificates for stock tokens or cash out in USDT at the real-time market price via a dedicated page.
Important: Opportunities and Risks
Opportunities:
- Opens up private market access, once reserved for top VCs and ultra-high-net-worth individuals, to retail investors worldwide. This breaks down the multimillion-dollar minimums and accredited investor requirements.
- After subscription, asset certificates are 100% unlocked and freely tradable in the pre-market, solving the long lock-up problem of traditional Pre-IPOs.
Risks:
- IPO Uncertainty: SPCX corresponds to a company that has not yet gone public. The timing and outcome of the IPO remain uncertain. If the company fails to list successfully, investors may face losses or even lose their principal.
- Price Volatility: The certificate’s value depends heavily on SpaceX’s final IPO pricing and market sentiment. If the eventual listing price is below the $590 subscription price, asset value will decrease accordingly.
- Asset Nature: Users receive a tokenized derivative exposure—no voting rights or dividends—and do not directly own SpaceX equity.
Conclusion
Gate’s first Pre-IPOs project, SpaceX (SPCX), lowers the entry barrier to just 100 USDT, giving retail investors worldwide early access to a top unicorn. The initial subscription window opens on April 20, offering 33,900 SPCX at $590 each, with certificates fully unlocked for pre-market trading. This marks a pivotal step for Gate in bridging traditional finance and the crypto world—and could become a key milestone as the crypto industry evolves toward a "parallel capital market." Looking ahead, Gate will continue to expand its selection of high-quality Pre-IPOs, driving early-stage investing toward greater openness and inclusivity.
