When SpaceX, the commercial space giant led by Elon Musk, officially filed a confidential IPO application with the U.S. Securities and Exchange Commission (SEC), the global capital markets immediately took notice. With a target valuation between $1.75 trillion and $2 trillion, a successful listing would shatter the $29 billion IPO record set by Saudi Aramco in 2019, making it the largest initial public offering in history.
For individual investors who have long followed SpaceX but could only watch from the sidelines, there’s good news—Gate has launched a brand-new Pre IPOs mechanism, allowing retail investors to get exposure to SpaceX before its public debut, with a minimum investment as low as 100 USDT.
Why Is the SpaceX Pre IPO Attracting So Much Attention?
SpaceX’s trillion-dollar valuation isn’t just hype—it’s built on three core business engines.
Starlink is the company’s steady "cash cow." As of March 2026, Starlink had surpassed 10 million active users worldwide, with over 10,000 satellites in orbit—making up 66% of all active satellites globally. The rocket launch business is SpaceX’s global monopoly card. In 2025, SpaceX completed 165 rocket launches, accounting for 51% of global launches and over 80% of all U.S. commercial rocket launches. Starship + xAI represent the company’s future growth engine. In February 2026, SpaceX completed its merger with Musk’s AI company, xAI. The combined entity reached a $1.25 trillion valuation, transforming SpaceX from a "rocket company" into a platform that deeply integrates artificial intelligence with space infrastructure.
According to the latest updates, SpaceX is expected to publicly release its IPO prospectus in late May, kick off its roadshow the week of June 8, and set its offering price the week of June 15. Even more noteworthy, SpaceX’s CFO has stated, "Retail investors will be a key part of this IPO, with their allocation exceeding any previous IPO in history." Reportedly, Musk aims to allocate up to 30% of new shares to retail investors—far above the typical 5% to 10% seen in most IPOs.
What Is Gate Pre IPOs? Why Choose SPCX?
Traditionally, Pre IPO investment has been the exclusive domain of top venture capital firms, private equity funds, and ultra-high-net-worth individuals, with minimum investments often running into millions of dollars. Gate’s digital Pre IPOs mechanism is breaking down these barriers.
Gate Pre IPOs is a digital participation mechanism focused on the "pre-listing phase" of companies, designed to let users track valuation changes and participate in potential opportunities before a company goes public. The first project launched is SpaceX (asset certificate symbol: SPCX).
SPCX is not a direct SpaceX stock, but a Mirror Note—holders have economic exposure to SpaceX’s valuation (tracking gains and losses), but no voting or dividend rights as a SpaceX shareholder. Gate hedges its exposure by holding SpaceX equity or derivatives off-chain and issues SPCX to mirror that value.
Key Subscription Details for SPCX
| Item | Details |
|---|---|
| Asset Certificate Symbol | SPCX |
| Subscription Price | 1 SPCX = 590 USDT / GUSD |
| Implied Valuation | Approximately $1.4 trillion |
| Total Subscription Volume | 33,900 SPCX |
| Total Value | Approximately $20,001,000 |
| Supported Currencies | USDT (70%) and GUSD (30%) |
| Minimum Subscription | 100 USDT or 100 GUSD |
| Individual Cap | 339 SPCX |
| Subscription Period | April 20, 2026, 10:00 UTC to April 22, 2026, 10:00 UTC |
| Distribution Date | Before May 6, 2026, 10:00 UTC |
| Pre-Market Trading Opens | April 24, 2026, 10:00 UTC |
| Unlock Method | 100% unlocked |
Source: Official Gate Announcement
How to Subscribe to SPCX on Gate in Three Simple Steps
Participating in Gate Pre IPOs is straightforward—just follow these three steps:
Step 1: Log in to your Gate account
Complete identity verification (KYC) via the Gate app or website.
Step 2: Navigate to the Pre IPOs Page
Go to: Home → Finance → Pre IPOs, then select the SPCX project.
Step 3: Submit Your Subscription
Choose USDT or GUSD as your payment currency, enter your subscription amount (minimum 100 USDT), confirm, and submit.
Special Note: Subscription allocation is based on the "average hourly locked amount"—the earlier you participate and the longer you keep your funds locked, the higher your allocation weight. The system calculates your share according to your average hourly locked amount during the 48-hour subscription period, relative to the project’s overall average. Early participation increases your allocation weight.
SPCX Exit Mechanism and Liquidity
Unlike traditional Pre IPO investments, which often require multi-year lock-up periods, SPCX offers a flexible exit strategy:
- Pre-Market Trading: After subscription, SPCX certificates are 100% unlocked and enter the pre-market trading phase, available for 24/7 trading.
- Post-Lockup Exit: The lock-up period lasts six months after the IPO. Once this period ends, Gate will provide a dedicated exit page, allowing holders to convert SPCX into stock tokens or USDT, based on the actual post-IPO market price.
Gate Pre IPOs vs. Traditional Pre IPO Investment: The Advantages
| Comparison | Traditional Pre IPO Investment | Gate Pre IPOs (SPCX) |
|---|---|---|
| Minimum Entry | Millions of dollars | 100 USDT |
| Eligibility | Accredited investors/institutions | Global users with KYC |
| Account Opening | Complex, requires overseas brokerage | One-click on-chain participation |
| Liquidity | Multi-year lock-up, difficult to exit | 100% unlocked, 24/7 pre-market trading |
| Fees | High transaction and management fees | No hidden subscription or custody fees for this offering |
Gate’s digital Pre IPOs model leverages blockchain technology to tokenize pre-IPO equity, enabling everyday users to subscribe using USDT—no complex processes, no high capital thresholds, and no geographic restrictions.
Risk Warning: Please Read Before Investing
While Pre IPO investments can be attractive, they also carry specific risks:
- SPCX is a mirror note, not actual SpaceX equity. Holders have no voting or dividend rights.
- SpaceX has not yet gone public; there is a risk of IPO delay or cancellation.
- The Pre IPO market is highly illiquid and volatile, with the potential for significant price swings.
- This product is a complex derivative and is only suitable for investors with a high risk tolerance.
- SPCX cannot be converted into stock during the lock-up period; conversion is only possible six months after the IPO.
Conclusion
As of April 21, 2026, the first Gate Pre IPOs project—SpaceX (SPCX)—is open for subscription, with the window closing at 10:00 UTC on April 22. Time is running out. With an implied valuation of $1.4 trillion and a price of 590 USDT per SPCX, retail investors worldwide can participate with as little as 100 USDT.
For those bullish on the commercial space sector and looking to get in early on SpaceX’s trillion-dollar opportunity, Gate Pre IPOs provides an unprecedented low-barrier entry point. After the subscription period ends, SPCX will begin 24/7 pre-market trading on April 24, giving users the flexibility to hold until the IPO or exit at their discretion. The window of opportunity is closing fast—interested investors should log in to Gate and complete their subscription in the Pre IPOs section as soon as possible.
