How Can Ordinary Investors Participate in SpaceX Subscription? Gate’s Complete Guide to Direct IPO Access

On June 9, 2026, Gate, the world’s leading digital asset trading platform, officially launched its “IPO Access” feature, opening— for the first time—IPO subscription channels that have long been monopolized by top-tier brokers and institutions to a broader group of investors.

As of the press time on June 10, according to the latest data on Gate’s IPO Access page, the feature has been live for only 2 days. The total participation amount has reached $61.54 million, with a total of 5,674 participants. Subscription enthusiasm continues to rise. With only 2 days left until the subscription ends, investors can still seize the final participation window.

Why choose SpaceX as the first project?

SpaceX is not just a space launch company anymore. Its business covers three core sectors:

• Starlink: In 2025, revenue reached $11.38 billion. Worldwide paid users have already exceeded 10 million, making it the company’s current core cash cow.
• Starship: Using reusable rocket technology to reshape the spaceflight cost structure, it carries the vision for future deep-space exploration and large-scale space transportation.
• Space AI / computing power: SpaceX has completed the acquisition of xAI Holdings and signed a $920 million monthly computing power cooperation agreement with Google, covering approximately 110,000 NVIDIA GPUs.

From the perspective of capital markets, SpaceX plans to determine its final IPO pricing on June 11, and to officially list and trade on NASDAQ on June 12 under the code SPCX. The company will issue approximately 555.6 million shares at a fixed price of $135 per share, raising about $75 billion, corresponding to a valuation of approximately $1.8 trillion—this figure will set a new global record for IPO scale.

How to participate in Gate IPO Access?

The core participation rules for this Gate SpaceX IPO Access are as follows:

• Subscription asset: USDT
• Reference intended subscription price: $135 per share, plus a 5% service fee, totaling approximately $141.75 USDT per share (subject to actual pricing)
• Minimum investment amount: 100 USDT
• Maximum investment amount: 500,000 USDT
• Subscription period: from June 9 at 18:00 to June 12 at 12:00 (UTC+8)
• Stock distribution time: estimated between June 12, 22:00 and 23:00 (UTC+8)
• Stock trading time: starting from June 12, 21:30 (UTC+8), with no lock-up period restrictions

Intent to subscribe and allocation rules: the earlier you participate, the higher the weight

This IPO Access falls under an “intent to subscribe” mechanism. After users submit an application, the final result may be full allocation, partial allocation, or no allocation, depending on the actual IPO offering situation and the final allocation quota obtained by the platform.

Regarding the allocation distribution mechanism, the system will calculate and allocate stocks based on the proportion of each user’s average hourly locked-in amount during the intent-to-subscribe period to the project’s overall average total intended subscription amount. The earlier users complete their subscription and continue locking their funds, the higher the average locked-in amount, and the greater the chance of receiving a higher allocation weight.

Benefits and risks analysis: investors should stay rational

Benefits

• Significantly lowered participation threshold for retail investors: Traditional IPO investments usually require capital thresholds of several million to even tens of millions of dollars. Gate lowers the minimum initial investment to 100 USDT, enabling ordinary investors to access top global IPO projects.
• No need for traditional securities accounts: Users only need to hold a Gate account and complete KYC. They can participate using USDT without opening overseas securities accounts or handling complex fiat-currency exchange processes.
• Immediate trading after listing, no lock-up period: Allocated shares can be traded as real US stocks in the Gate stock section on the day of listing, breaking the common lock-up period restrictions of traditional IPO subscription-to-listing products.
• More high-quality projects to come: After SpaceX, Gate IPO Access is expected to gradually introduce other global top tech unicorns such as OpenAI, Anthropic, and xAI, continuously expanding the investment landscape.

Risk reminders

• Allocation uncertainty: Since IPO Access is an intent-to-subscribe mechanism, users may not receive any allocation or may receive only partial allocation. The final outcome depends on the quota obtained by the platform.
• Significant price volatility in the early trading period: After SpaceX’s IPO is completed, only about 4.2% of the shares are outstanding in circulation, with holdings highly concentrated. The stock price may experience large fluctuations in the initial trading period.
• Overvaluation and ongoing losses: SpaceX’s net loss in 2025 was still $4.94 billion, with a price-to-sales ratio of about 100 times. Its valuation is far beyond that of traditional aerospace companies, bringing certain bubble risk.
• Funds cannot be withdrawn during the lock-up period: Subscription funds are locked throughout the entire subscription period, meaning they cannot be traded, withdrawn, or transferred. After the subscription ends, fees are deducted based on the actual allocation, and any remaining funds are automatically refunded.

Summary

Gate IPO Access officially launches with SpaceX as the first project, opening a brand-new channel for global investors to participate in IPOs of technology giants. As of June 10, the subscription amount has reached $61.54 million, with 5,674 participants. Subscription enthusiasm continues to grow. With only the final 2 days remaining until the June 12 subscription deadline, users can participate with as little as 100 USDT.

As SpaceX is set to create the world’s largest IPO record with a valuation of $1.8 trillion, Gate IPO Access not only carries the expectations of retail investors to join the tech capital feast, but also marks an important milestone in the deep integration between digital asset platforms and traditional capital markets. In the future, Gate will continue to introduce more high-quality enterprise IPO projects, further promoting the openness and broad access of global investment channels.