How to invest in unlisted companies like OpenAI, SpaceX, etc.? The latest guide for 2026

As OpenAI's ChatGPT sparks a global AI wave and SpaceX's Starlink covers over 150 countries with a valuation approaching $1.25 trillion, countless ordinary investors share a common question: These companies haven't gone public yet, how can I buy in?

The answer is—investment channels are becoming more diverse than ever before. Amid the collision of crypto finance and traditional capital, a door to top-tier unicorn investments is slowly opening.

Why Can't You “Buy” Stocks of OpenAI and SpaceX?

Before discussing “how to buy,” it's necessary to understand “why it's difficult.”

OpenAI and SpaceX are both private companies whose shares are not publicly traded on exchanges. Traditionally, only venture capital firms, qualified investors, and internal employees could hold shares through private placements or employee stock incentive plans. Both companies have clear restrictions on unauthorized secondary market share transfers—an OpenAI spokesperson once publicly stated, “People should be extremely cautious about any company claiming to obtain OpenAI shares, including through SPV acquisitions.”

But this doesn't mean ordinary investors have no opportunities.

As crypto financial infrastructure matures and regulatory frameworks gradually improve, new channels are breaking down this high wall, allowing retail investors to participate at lower thresholds in the valuation growth of these top private companies.

How to Invest in Private Companies?

Below, we outline the four most mainstream investment methods currently available, from traditional secondary markets to on-chain derivatives, so investors can choose based on their risk appetite and capital size.

Traditional Private Secondary Market Platforms (EquityZen, Forge Global)

For those closest to “actual ownership,” traditional private secondary market platforms remain the first choice. Platforms like EquityZen and Forge Global connect early employees or investors seeking liquidity with individual buyers willing to take over, allowing users to invest as little as $5,000 in hot private companies like OpenAI and SpaceX.

Both platforms have lowered investment barriers through partnerships with Yahoo Finance and plan to launch single-company funds to enable small investments. Forge has also developed a daily price estimation system based on platform buy-sell activity to address outdated valuation issues in the private market. But note: such transactions are still limited to “qualified investors,” and share transfers require company approval, with limited trading windows.

Pre-IPO Perpetual Contracts (Gate)

Crypto platforms are becoming the most dynamic innovators in this space. On April 9, 2026, Gate officially launched a digital pre-IPO participation system, allowing users to access private company valuation dynamics before the company enters the public market. The first product, SPACEXUSDT perpetual contract, lets users trade SpaceX long and short 24/7 just like trading crypto assets, completely removing the high barriers and geographical restrictions of traditional IPO trading.

Prediction Markets (Polymarket)

Prediction markets seem “different” but are still important supplements. In May 2026, Polymarket formed an exclusive partnership with Nasdaq Private Market to launch prediction contracts involving key milestones of private companies like OpenAI and Anthropic, covering valuation changes, IPO timing, and secondary market trading dynamics. Nasdaq Private Market will serve as the settlement data provider, and this data will be publicly available for free for the first time.

Users bet on the occurrence of private company events via prediction contracts, not actual equity. This mode offers investors a unique perspective on market expectations of unlisted company valuations.

Major Regulatory Variable: SEC’s “Innovation Exemption” Could Reshape the Game

In May 2026, the U.S. Securities and Exchange Commission (SEC) proposed an “innovation exemption” policy for tokenized stocks, allowing digital tokens linked to publicly traded company stocks to be traded on decentralized platforms and crypto-native venues without prior approval from the issuing company.

This policy has sparked widespread debate over market fragmentation and investor protection, leading to a delay from an initial May rollout. Regardless of the final form, the push for “innovation exemption” indicates regulators are increasingly tolerant of on-chain securities circulation, which is a long-term positive signal for crypto Pre-IPO products involving companies like OpenAI and SpaceX.

Risk Warnings: Three Alerts You Must Know Before Entering

The emergence of new channels does not eliminate risks—in fact, the more channels and complex structures, the more cautious investors need to be.

First, no shareholder rights. Whether it’s Gate’s SPACEXUSDT perpetual contract or Binance’s OPENAIUSDT contract, these are synthetic derivatives that do not provide equity ownership, voting rights, or dividends. Investors only gain price exposure, not actual shares of OpenAI or SpaceX.

Second, liquidity issues. Unlike public markets, private company shares are “non-continuous priced”—valuations of hundreds of billions of dollars may be based on tiny proportions of shares traded in recent funding rounds. This “marginal pricing” can inflate valuations to sky-high levels, but actual liquidity upon exit is extremely limited. Some private shares may require holding for years before finding a buyer.

Third, opacity and structural risks. Investors lack access to public financial reports and corporate governance info; valuations rely almost entirely on funding rounds rather than audited financial data. Some SPV structures may even lack legal validity due to design flaws, posing high counterparty risks.

How to Take the First Step on Gate?

For investors interested in trying Pre-IPO derivatives trading, Gate offers a convenient entry.

Users can find products like SPACEXUSDT perpetual contracts in Gate’s “Derivatives” section, settled entirely in USDT, with no minimum deposit, and available for 24/7 trading. Gate also offers xStocks tokenized stock section, allowing direct trading of stock tokens for Apple, Nvidia, Tesla, and other listed companies using crypto assets.

But remember: Pre-IPO perpetual contracts are high-risk leveraged trading tools, essentially “trading” rather than “investing.” High volatility means misjudging the direction can lead to losses far exceeding expectations. Beginners are strongly advised to start with small amounts, set strict stop-losses, and thoroughly research each contract’s underlying mechanisms.

Summary

By 2026, investing in private companies like OpenAI and SpaceX is no longer exclusive to high-net-worth individuals. From traditional private secondary markets like EquityZen and Forge Global, to crypto platforms’ Pre-IPO perpetual contracts on Gate and Binance, to tokenized SPV structures via Bitget IPO Prime, and prediction markets like Polymarket—these four paths are opening to ordinary investors at unprecedented low thresholds. Meanwhile, SEC’s ongoing push for tokenized securities regulation could fundamentally change how unlisted company shares circulate.

But lower barriers do not mean lower risks. Each product varies greatly in underlying assets, legal structures, and rights—synthetic derivatives offer price exposure without shareholder rights, SPV tokens attempt to mimic equity but may face legal disputes, and prediction markets are entirely different from equity investments, betting on event outcomes. Investors must carefully understand each pathway’s true mechanisms and make rational choices based on full risk comprehension.