Can the largest IPO in history, SpaceX, still be invested in? How to participate with one click on Gate Pre IPOs

If you are a long-term follower of SpaceX, you must have heard of these figures: going public in June 2026, a target valuation of $1.75 trillion, raising $75 billion. This will be the largest IPO in human capital markets history, surpassing Saudi Aramco’s record set in 2019. As one of the highest-valued unicorns globally, SpaceX is undoubtedly the most watched event in the global capital markets in 2026.

But a more realistic question is: Is SpaceX still worth investing in now? More importantly, how can ordinary investors participate?

Traditional private secondary markets answer: it’s very difficult. By April 2026, secondary market prices had risen to $600–$800 per share, and are usually only open to qualified investors. But now, Gate’s newly launched Pre IPOs digital participation mechanism offers a new option for retail investors—starting from just 100 USDT, you can easily get exposure to SpaceX (SPCX). The subscription window closes at 18:00 on April 22 (UTC+8).

Behind the Trillion-Dollar Valuation: What is SpaceX Buying?

Before answering whether it’s worth investing, let’s break down the true composition of SpaceX’s trillion-dollar valuation.

Starlink is SpaceX’s most solid “cash cow.” As of April 2026, Starlink’s global active users have exceeded 17 million, with over 10k satellites in orbit, accounting for 66% of the total active satellites worldwide. Revenue in 2026 is expected to surpass $22 billion.

Rocket launch services are SpaceX’s global monopoly trump card. In 2025, SpaceX completed 165 launches, accounting for 51% of the global launch total, with on-orbit quality making up nearly 90% of the global market, and launch costs only one-fifth to one-tenth of the industry average.

Starship + xAI represent the greatest imagination space. In February 2026, SpaceX completed a merger with Elon Musk’s AI company xAI, with the combined entity valued at $1.25 trillion. The company’s narrative has shifted from “rocket company” to “platform enterprise integrating artificial intelligence and space infrastructure.”

Financially, it’s equally solid: in 2025, SpaceX achieved revenues of approximately $15–16 billion, with a gross margin close to 60%, far exceeding the 15–30% typical of traditional defense and aerospace companies.

The latest IPO progress is also exciting. On April 2, 2026, SpaceX officially filed for IPO with the SEC in a confidential submission; from April 21 to 23, SpaceX held a three-day closed-door analyst meeting at the Starship base in Texas and data center in Tennessee, showcasing its business layout to Wall Street. The roadshow is expected to start the week of June 8, aiming for a Nasdaq listing in mid to late June.

Traditional Pre IPO Investment: An Impassable Barrier

Before Gate Pre IPOs launched, it was nearly impossible for ordinary investors to “get on board” before SpaceX went public.

Traditional private secondary market transactions (such as Forge Global, EquityZen) usually require investors to meet qualified investor criteria (annual income over $200k or net assets over $1 million), with minimum investments of $50k–$100k, plus a lock-up period of 90 to 180 days after IPO. Even if these strict conditions are met, supply is extremely limited—demand has long exceeded supply.

Secondary market prices had already risen to $600–$800 per share by April 2026. This is exactly where Gate Pre IPOs offers a breakthrough—allowing retail investors to participate at a very low threshold, no longer barred by capital size or identity verification.

What is Gate Pre IPOs? An Overview of SPCX Subscription Key Information

Gate Pre IPOs is a digital participation mechanism launched by Gate on April 9, 2026, focusing on early value tracking and opportunity discovery for high-quality projects before listing. The first project is SpaceX (asset token symbol: SPCX).

SPCX is not direct stock of SpaceX but a Mirror Note—holders have economic rights (tracking valuation changes), but do not have voting or dividend rights as SpaceX shareholders. Gate hedges by holding SpaceX equity or derivatives off-market, issuing SPCX to mirror its value.

Here are the core subscription details for SPCX:

Source: Gate official announcement

How to easily subscribe to SPCX on Gate with one click?

Participating in Gate Pre IPOs is very simple, only 3 steps:

Step 1: Log in to your Gate account. If you don’t have one, complete registration and identity verification first.

Step 2: Go to the Pre IPOs page. Visit Gate’s official Pre IPOs section and select the SpaceX (SPCX) project.

Step 3: Use USDT or GUSD to subscribe. Minimum 100 USDT to participate, subscription price 590 USDT per SPCX, total available 33,900 SPCX. The earlier you subscribe, the higher your allocation weight.

After subscription, SPCX tokens will be fully unlocked and enter Gate’s pre-market trading platform, allowing investors to buy and sell freely before the company’s listing. Pre-market trading opens at 18:00 on April 24 (UTC+8).

Risk Reminder: Key Points to Understand Before Investing

Any investment decision should be based on a full understanding of risks. Regarding SPCX, the following points deserve special attention:

• Time Uncertainty: Although the settlement date is set for December 31, 2035, if SpaceX does not go public, get acquired, or merged long-term, capital lock-up may be extended accordingly.
• Non-Shareholder Status: SPCX is a mirror note, not actual SpaceX stock, and holders do not enjoy dividends or voting rights.
• Market Volatility: Early pre-market trading may face risks of wide bid-ask spreads due to low depth, with SPCX prices driven by market supply and demand.
• Macroeconomic Risks: Valuations in the commercial space sector are highly sensitive to interest rate environments; high-growth assets may face revaluation pressures during rising rate cycles.
• Equity Dilution Risks: Future share issuance by SpaceX could dilute the value per share held by current investors.

Summary

SpaceX is sprinting toward the largest IPO in human history—target valuation of $1.75 trillion, raising $75 billion, expected to list on Nasdaq in June 2026. For investors optimistic about commercial space and AI sectors in the long term, this is a rare opportunity.

Gate Pre IPOs lowers the participation threshold to just 100 USDT, with a subscription price of 590 USDT per SPCX and 100% unlock, opening private market opportunities that were once exclusive to top institutions. The subscription window closes at 18:00 on April 22 (UTC+8), with very limited time.

Pre-market trading begins on April 24. The earlier you subscribe, the higher your allocation. If you don’t want to miss this “century IPO” dividend window, now is the time to make your decision.