Gate Launches Direct Access to IPOs: Starting with SpaceX, how can retail investors participate in popular global IPOs?

For a long time, the world's most rapidly growing technology companies have often completed the majority of their value accumulation before going public. Whether it's SpaceX, OpenAI, Stripe, or popular unicorns like Databricks, ordinary investors usually can only buy shares on the open market after the company has gone public. Before a company officially enters the capital markets, the potential gains during the early growth stage mostly belong to institutional investors, high-net-worth clients, and private market participants. As global capital markets continue to open and the trend of integrating digital asset platforms with traditional financial markets accelerates, this situation is gradually changing.

In June 2026, Gate officially launched IPO Access, providing users with a new channel to participate in the IPOs of top global companies. The first project listed is the world’s most watched commercial space company, SpaceX.

This means that users can not only participate in IPO share subscriptions but also directly trade real stocks in the Gate stock section after the stock is listed, creating a one-stop investment experience from IPO subscription to secondary market trading.

What is Gate IPO Access?

IPO Access is a new investment product launched by Gate, aimed at connecting the IPO subscription market with the public stock trading market.

Traditionally, ordinary investors face several barriers when participating in popular IPOs:

• Need to open overseas securities accounts
• High capital requirements
• Limited allocation opportunities
• Complex procedures
• Regional restrictions

Gate hopes to provide a more convenient participation method through platform resource integration and market allocation capabilities.

Users only need to complete an intent subscription on the Gate platform to have a chance to participate in the IPO allocation of top companies. If successfully allocated, the corresponding shares will be directly transferred to the user’s Gate stock account after issuance, and then they can enter the stock trading market for buying and selling. From the user experience perspective, this forms a complete investment chain: IPO intent subscription → stock allocation → stock distribution → secondary market trading.

The entire process is completed within the Gate platform.

Why choose SpaceX for the first project?

If you were to select the most influential tech companies of the past twenty years, SpaceX would almost certainly be near the top of the list. Founded in 2002 by Elon Musk, SpaceX aims to reduce space transportation costs and push humanity toward a multi-planetary civilization. Over more than two decades, SpaceX has grown into a core force in the global commercial space industry. Currently, SpaceX’s main businesses include:

Reusable rocket technology

Falcon 9 has become one of the most successful commercial launch vehicles worldwide. Its reusability technology has changed the traditional aerospace industry’s high-cost, low-reuse development model, significantly reducing launch costs.

Starlink satellite internet

Starlink has deployed thousands of low-earth orbit satellites to provide internet access in many countries and regions worldwide. This business not only generates continuous cash flow but is also viewed as a vital part of future global communication infrastructure.

Deep space exploration plans

The Starship project is considered a key infrastructure for future crewed lunar landings, Mars exploration, and deep space transportation. If these plans proceed smoothly, SpaceX’s business scope will further expand.

For these reasons, SpaceX has long been regarded as one of the most closely watched unlisted companies globally.

Core rules for SpaceX IPO Access

Image source: Participation page

This project uses USDT for intent subscription. The main parameters are as follows:

• Project name: SpaceX
• Subscription asset: USDT
• Reference intent subscription price: $135 per share
• Intent subscription fee: 5%
• Minimum investment amount: 100 USDT
• Maximum investment amount: 500,000 USDT
• Unlock method: 100% unlocked, no lock-up period

It should be particularly noted that $135 is only a reference intent price. The final issuance price will be based on the actual IPO pricing results. Submitting a subscription application does not guarantee allocation of shares.

Final results may include:

• Full allocation
• Partial allocation
• No allocation

The specific allocation depends on the actual IPO issuance results and the stock quota Gate ultimately obtains.

How are stocks allocated through IPO Access?

Unlike the traditional first-come, first-served model, Gate uses an average locked amount mechanism for calculation. The platform will tally the user’s average locked amount per hour over the entire subscription period and calculate allocation weights accordingly.

Simply put: the earlier you participate, the higher your probability and weight of receiving shares.

For example:

• Suppose a user invests 100,000 USDT. User A participates immediately after the start and continues to lock until the end. The average locked amount is: 100,000 USDT
• User B joins halfway through the event. The average locked amount is about: 50,000 USDT
• User C participates in the last hour. The average locked amount is only about: 1,515 USDT

Therefore, under the same investment amount, the earlier you complete the subscription, the higher the probability and weight of receiving stock allocation. This design helps prevent large sums of capital from flooding in at the last minute and improves overall allocation efficiency.

How are stocks handled after IPO?

If a user successfully receives stock allocation, the system will transfer the corresponding shares to the user’s Gate stock account after issuance. The user can then directly trade in the Gate stock section. This process is also a key feature of IPO Access.

Many platforms in the past only offered IPO subscription services, but after allocation, users often needed to transfer shares to external securities accounts.

Gate achieves: subscription, distribution, holding, and trading—all within the same ecosystem. For investors who want to simultaneously engage in digital assets and global stock markets, this experience is more convenient.

What does IPO Access mean for the market?

From industry development trends, digital asset platforms are continuously evolving into comprehensive financial service platforms. Over recent years, more users have begun to focus on:

• U.S. stock investments
• ETF products
• Global asset allocation
• Pre-IPO investment opportunities

The emergence of IPO Access essentially connects the primary and secondary markets.

For investors, its value mainly lies in three aspects:

1. Expanding investment opportunities in top companies. Popular tech firms often accumulate significant growth benefits before listing, and the IPO stage becomes one of the few opportunities for ordinary investors to participate early.

2. Lowering participation barriers. Users can participate in IPO intent subscriptions without complex cross-border account opening procedures.

3. Creating a complete trading cycle. From subscription to holding to stock trading, everything is done within the same account system.

What risks should investors pay attention to?

Although IPO Access offers a new way to participate, IPO investments themselves remain high-risk activities.

• Intent subscription does not guarantee final allocation: even if you submit a subscription, you may not receive shares due to overall allocation ratios.
• IPO pricing is uncertain: the final issuance price may be higher or lower than the reference price.
• Stock prices may fluctuate significantly after listing: even highly watched star companies cannot guarantee continuous growth after going public.

For companies like SpaceX, which are under broad attention, their future valuation will still be influenced by commercialization progress, aerospace industry competition, global capital market conditions, and investor sentiment.

Therefore, investors should participate cautiously based on their own risk tolerance.

Conclusion

With the launch of Gate IPO Access, the connection between digital asset platforms and global capital markets is further strengthened. The first project, SpaceX, not only brings high market attention but also demonstrates Gate’s strategic goal of creating a “one-stop global investment portal.”

For investors, IPO Access offers a more convenient way to participate in the growth of top global companies. However, IPO investments are not guaranteed to be profitable; allocation, pricing, and post-listing market performance all carry uncertainties.

Understanding the rules and risks thoroughly, participating rationally, and making proper asset allocations may be the key to seizing new opportunities.