Gate IPO Direct Access Goes Live with a Major Launch at Full Force: SpaceX — Why Did Subscription Funds Briefly Top $100 Million?

As of June 11th, the latest data from Gate shows that its newly launched "Direct IPO (IPO Access)" first-phase project SpaceX has attracted over $126 million in subscription funds, with participation exceeding 11.2k people. This number is still rapidly climbing.

Why Has the SpaceX IPO Become a Global Focus?

Before Gate's IPO Access went live, SpaceX's listing plans had already been the top event in the global capital markets. On June 11th, this aerospace giant, valued at approximately $1.8 trillion, will finalize its IPO pricing, and officially list on NASDAQ the next day under the stock code SPCX. Market demand for subscription has reached about $150 billion, twice the fundraising target of $75 billion.

This is not only the largest IPO in modern financial history but also carries investors' dual expectations for commercial spaceflight and AI infrastructure. SpaceX is transforming from a rocket company into a platform-level enterprise spanning space launch services, satellite internet (Starlink), and artificial intelligence (xAI/Grok).

Meanwhile, traditional IPO subscription channels are not very friendly to ordinary investors. Most IPO shares are preferentially allocated to institutional investors, and ordinary users often have to wait until after listing to buy at higher prices. Due to restrictions under the U.S. International Traffic in Arms Regulations (ITAR), SpaceX's underwriters have been explicitly told they cannot accept subscription orders from investors in mainland China and Hong Kong. These barriers have historically kept most global investors from participating in SpaceX's listing feast—until Gate's IPO Access appeared.

How Does 100 USDT Break Institutional Barriers: How Does Gate IPO Access Enable Retail Investors to "Get a Head Start"?

IPO Access is a priority subscription channel provided by Gate. It allows users to submit subscription intentions at a reference price before the target company officially lists on the exchange, locking in potential investment shares.

First-phase SpaceX Subscription Rules

• Reference intention price: $135 per share
• Minimum subscription: 100 USDT
• Maximum subscription: 500,000 USDT
• Subscription asset: USDT
• Subscription period: June 9th 18:00 to June 12th 12:00 (UTC+8)

A key detail that is easy to overlook: Gate's IPO Access allocates real spot shares, not derivative contracts linked to the stock price, so users directly hold actual shares. The shares allocated will be distributed directly to users' Gate stock accounts on June 12th, with no lock-up period, and can be traded immediately on the US stock market after listing.

Allocation Weight: The Earlier You Participate, the Greater Your Advantage

"First come, first served" does not fully apply to Gate's allocation model. The system calculates stock distribution based on the user's average locked-in amount per hour during the subscription period, as a proportion of the project's total average intention amount.

This means: the earlier and more consistently you lock in, the more likely you are to gain an advantage in the allocation formula.

Subscription Process (Simple Three Steps)

Gate homepage → Wealth Management → IPO Access → Select SpaceX, submit intention using USDT.

Important Tips:

• This subscription is an "expression of intent" and does not guarantee allocation. The final allocation depends on actual IPO issuance and the platform's final allotment. Users may receive full, partial, or no shares.
• If the final pricing fluctuates more than 20% from the reference price, a secondary confirmation process will be initiated.

Why Is the Market Showing "Confidence Votes" in SpaceX?

SpaceX's growth story has far exceeded its launch business:

• Starlink Satellite Internet: Generated $11.2k in revenue in 2025, accounting for 61% of SpaceX's total revenue, with nearly 50% year-over-year growth. As of the end of March 2026, global active users have surpassed 10 million.
• Dominance in Commercial Launches: SpaceX accounts for 83% of total launches from Earth to orbit, successfully reducing launch costs by over 95%.
• AI Infrastructure Layout: SpaceX announced an agreement with Google, whereby Google will pay SpaceX $920 million per month until 2029.

For investors, the appeal of SpaceX's IPO lies not only in technological imagination but also in its genuine business sustainability. This is the core reason why, within just a few days, Gate's IPO subscription funds have already exceeded $126 million with over 11.2k participants.

What Does the IPO Access Mark for Crypto Platforms and Traditional Capital?

The significance of Gate's IPO Access goes far beyond a single stock subscription event.

From a macro perspective of the digital asset industry, real-world asset tokenization (RWA) is becoming one of the most promising growth tracks. Securitize CEO Carlos Domingo predicts that tokenized stocks could drive the RWA market from around $30 billion today to $5 trillion. Ultimately, about $400 trillion of assets could be tokenized, covering global financial markets, real estate, bonds, private credit, and alternative investments.

In this trillion-dollar wave, Gate's IPO Access is an important step for digital asset platforms to "connect traditional assets." By integrating the previously fragmented processes—information access, intention submission, fund locking, allocation, and stock settlement—onto a single platform, Gate is digitally bridging traditional capital markets and the digital asset ecosystem.

Future Outlook: The Era of Super IPOs Has Just Begun

2026 is being called by many industry observers as the "Super IPO Year." Besides SpaceX, OpenAI has secretly filed S-1 registration with the U.S. SEC, and Anthropic's valuation is close to a trillion dollars. This suggests that Gate's IPO Access may continue to introduce other high-profile projects like OpenAI and Anthropic in the future.

Summary

The debut of IPO Access may mark a new beginning for the integration of crypto assets and traditional capital.

Using SpaceX as the first project, Gate's IPO Access not only allows ordinary users to participate in top-tier tech companies' pre-IPO subscriptions at low thresholds for the first time but also signifies that the supply side of digital asset platforms is beginning to systematically extend into the pre-IPO private equity stage.

The subscription funds exceeding $126 million and over 11,200 participants are themselves the best proof of market demand.

Investing is not just about seeking returns but also about participating in stories that "are reshaping the world." What Gate is doing is making this story no longer exclusive to institutions and top traders.

Frequently Asked Questions (FAQ)

Q1: What is the difference between Gate IPO Access and traditional IPO subscriptions?

Traditional IPOs rely on broker accounts and regional access, while Gate IPO Access consolidates project presentation, subscription application, and allocation settlement into a unified platform, lowering participation barriers and increasing transparency. Users can participate with USDT without needing to open overseas securities accounts or exchange fiat currency.

Q2: Is it guaranteed to receive an allocation?

No. IPO Access is an "expression of intent" and does not guarantee allocation. After submitting an application, users may receive full, partial, or no shares.

Q3: When will the stocks be credited after successful subscription?

Stock distribution is expected between 22:00 and 23:00 (UTC+8) on June 12th, with trading starting at 21:30 (UTC+8) on the same day, with no lock-up restrictions.

Q4: When is the 5% fee charged?

The intention subscription fee is 5%, charged only if the user is successfully allocated shares. If not allocated, no fee is incurred.

Q5: Are there any participation restrictions?

Users must complete identity verification on the Gate platform and comply with the project's regulatory requirements.