2026 IPO Super Year: How to Invest in OpenAI and SpaceX through Gate Pre-IPOs?

The capital markets in 2026 are迎来 the most talked-about “super cycle” of IPOs since the internet bubble of 2000. Leading commercial space company SpaceX plans to list on NASDAQ in June 2026, while OpenAI is expected to go public in Q4 2026, with target valuations reaching $1.75 trillion and $852 billion respectively.

However, for the vast majority of retail investors, access to private equity markets has long been monopolized by top venture capital firms, sovereign funds, and ultra-high-net-worth individuals. Traditional pre-IPO deals typically require a minimum investment of over $10 million and qualification as an accredited investor. Fortunately, driven by the wave of asset tokenization and advancements in crypto infrastructure, this barrier is being fundamentally rewritten.

Gate Pre-IPOs: Lower the Million-Dollar Threshold to 100 USDT

On April 9, 2026, Gate announced the launch of a digital pre-IPO participation mechanism, opening an early investment channel—previously exclusive to institutions—to over 52 million users worldwide.

The core of this mechanism involves tokenizing traditional pre-IPO equity or financing rights via blockchain technology, creating digital assets that can be subscribed to and traded within the platform. Users do not need to open overseas securities accounts or meet high net worth thresholds; holding stablecoins like USDT is sufficient to participate in subscriptions and trading. Additionally, with the platform’s introduced PreToken minting and settlement system, users can stake USDT to mint PreTokens representing future token rights. When the company officially goes public, the system automatically executes a 1:1 asset conversion. This design fundamentally addresses liquidity shortages and long lock-up periods common in traditional private markets.

First Project SPCX: Breaking Down Participation Path with a Real Case

The first project launched on Gate Pre-IPOs is SpaceX (asset token symbol: SPCX). SpaceX’s valuation has achieved a remarkable “triple jump” over the past year: from approximately $400 billion in July 2025, to an internally priced $800 billion in December 2025, and then to $1.25 trillion after merging with Elon Musk’s AI company xAI in February 2026. Against this backdrop, Gate launched SPCX with an implied market cap of $1.4 trillion and a price of $590 per share, with a minimum participation threshold of just 100 USDT. The initial subscription window lasted only 48 hours, and within 24 hours of opening, the total subscription amount exceeded $353 million.

Four-step full process guide (based on future new issuance cycles)

Step 1: Enter the portal

Log into the Gate platform and navigate to the “Pre-IPOs” or “PreMarket” section.

Step 2: Complete preparations

Ensure your account has completed KYC verification and has sufficient USDT or GUSD balance.

Step 3: Participate in subscription

During the designated subscription window (usually 48 hours), select the target project on the specified page, enter the subscription amount, and make the payment. The system uses an “hourly average lock-up amount” algorithm: the earlier and longer the lock-up, the higher the allocation weight.

Step 4: Asset distribution and trading

After subscription, the asset certificates are unlocked 100% and enter the pre-market trading phase, supporting 24/7 buying and selling. After the lock-up period (usually six months post-listing), Gate will provide an exclusive exit page where holders can exchange for stock tokens or convert to USDT at the current market price.

Over $40 Trillion “Dry Powder” Flows into Private Equity “Magic Seven”

The buzz around SpaceX and OpenAI is not an isolated case. The global private equity market is experiencing unprecedented capital concentration.

According to the latest data from Forge Global and StepStone, seven unlisted companies—OpenAI, SpaceX, Anthropic, xAI, Databricks, Stripe, and Anduril—account for approximately 43% of the total valuation of U.S. unicorns. The global private market holds over $4 trillion in “dry powder,” yet overall deal volume remains low, with capital intensely flowing into these seven high-confidence targets.

Why such concentration? Companies like Stripe and Databricks, with their size and revenue, would have gone public on NASDAQ five times over two decades ago. Today, the median duration from founding to IPO for unicorns has extended beyond ten years. Many tech giants prefer to stay private longer, raising multiples of IPO-scale funding in the primary market to avoid quarterly performance pressures and SEC scrutiny. Meanwhile, the AI model arms race often requires tens of billions of dollars in computing power—far beyond traditional VC reach—making giants like Microsoft, Amazon, and Middle Eastern sovereign wealth funds the actual investors. Capital barriers have evolved into the deepest moat.

Crypto Exchanges Compete for Layout, Tokenized Pre-IPOs Race Heats Up

Faced with the historic “super cycle” of IPOs in 2026, major crypto exchanges are entering the Pre-IPO track through various approaches. Binance has launched Pre-IPO assets in its Web3 wallet, Jupiter has enabled stock token trading for companies like OpenAI and Anthropic, and OKX announced perpetual futures contracts tracking the valuations of OpenAI, SpaceX, and Anthropic. Additionally, specialized on-chain pre-IPO platforms like PreStocks, Jarsy, and MaiTong are also expanding.

Gate’s competitive advantages in this space mainly lie in three dimensions: first, the convenience of dual-currency subscription (USDT/GUSD); second, 100% unlockability providing immediate liquidity; third, leveraging a user base of over 52 million for deep market coverage.

Risks of Investing in Tokenized Pre-IPOs

While potential opportunities are attractive, investors should also be aware of the following risks:

Not direct equity. SPCX is a mirror note-type product; users do not acquire direct equity in SpaceX nor enjoy voting rights or dividends. The price reflects market expectations of valuation, which may differ from actual private valuation.

Valuation volatility and liquidity risk. The price of pre-IPO tokens is influenced by market sentiment, IPO expectations, macroeconomic factors, and is highly volatile. Unlike traditional securities, tokenized products lack the same level of investor protection.

Listing failure risk. If the target company fails to complete an IPO, the token’s value could plummet or become worthless. Regulatory changes may also impact the legal status of such digital assets.

“Paper wealth” in private market valuations. Private market valuations are set by marginal transaction prices and lack continuous liquidity. When market sentiment weakens, paper returns may not materialize, and transfer discounts on secondary platforms could sharply decline in the short term.

Summary

2026 is shaping up to be a “super year” for IPOs in the capital markets. Top unlisted tech giants like SpaceX, OpenAI, and Anthropic are rushing toward IPOs, with combined target valuations exceeding $3 trillion. However, traditional pre-IPO markets have long kept retail investors at bay.

Gate’s digital pre-IPO mechanism, through tokenized equity, lowers the minimum investment from millions of dollars to just 100 USDT, breaking institutional monopolies and democratizing private investments. Investors do not need to meet accredited investor requirements—just hold stablecoins to participate—and can enjoy 24/7 liquidity through fully unlocked pre-market trading, fundamentally solving the liquidity lock-up problem of traditional private investments.

It’s important to note that tokenized pre-IPOs do not involve direct equity purchase; investors should fully understand the mechanism differences and associated risks. Nonetheless, for those eager to get early exposure to unicorns like SpaceX and OpenAI before their IPOs, Gate Pre-IPOs currently offer one of the most accessible channels.