Gate Direct IPO Latest Updates: The first phase of SpaceX has been successfully completed, what new projects are coming next?

In June 2026, the global capital markets reached a landmark moment. Commercial aerospace giant SpaceX officially landed on Nasdaq at $135 per share, with a fundraising scale of $75 billion and a market capitalization of $1.77 trillion. Behind this largest IPO in global history, Gate officially launched the "IPO Access" service on June 9, 2026, opening the IPO subscription channel, traditionally dominated by top brokerages and institutions for a long time, to digital asset platform users for the first time.

The first project targeted SpaceX, completing a full-cycle practical test from subscription initiation to stock listing, distribution, and trading within just a few days. With the successful conclusion of the first project, the market turned its attention to a more core question: What subsequent projects does Gate IPO Access have? How does this service actually operate?

First Project Full Review: $143 Million in Subscriptions and 13.4k Participants

The subscription window for Gate IPO Access's first project, SpaceX, opened at 18:00 (UTC+8) on June 9, 2026, and closed at 12:00 (UTC+8) on June 12, 2026. The total cumulative intended subscription funds exceeded $143 million, with a total number of participants exceeding 13.4k. Within 24 hours of launch, the intended subscription amount exceeded 92 million USDT, with nearly 10k participants.

In terms of subscription conditions, the minimum intended subscription amount for this project was only 100 USDT, and the maximum subscription amount was 500,000 USDT. The reference intended subscription price was $135 per share, plus a 5% handling fee, totaling approximately 141.75 USDT per share. The entire subscription process was completed using USDT, and successfully allocated stocks could be traded on the Gate stock board on the listing date with no lock-up period.

From a user structure perspective, the participation scale of over 13.4k people shows that IPO Access successfully reached a large number of ordinary investors who were previously excluded from the traditional IPO subscription system. For most crypto asset users, this was their first time participating in the IPO of a global top-tier technology company at the hundred-dollar level. This data validates the actual effectiveness of Gate IPO Access in lowering investment thresholds and broadening the participant base.

Meanwhile, the popularity of SpaceX's own IPO also set historical records. The overall IPO was oversubscribed more than four times, with the underwriting syndicate led by Goldman Sachs and composed of 21 global investment banks. Against this backdrop, total retail orders exceeded $100 billion, while institutional subscription demand exceeded $250 billion. Retail quotas were extremely limited, which also explains why a large amount of intended subscription funds could not ultimately receive proportional allocation.

First-Day Trading Performance: Opened Up Over 11%, Intraday High Hit $176.5

On June 12, 2026, SpaceX officially began trading on the Nasdaq Global Select Market and the Nasdaq Texas board under the ticker symbol SPCX. The issue price was set at $135 per share, corresponding to a market capitalization of approximately $1.77 trillion, with a fundraising scale as high as $75 billion, surpassing Saudi Aramco's $29.4 billion record in 2019 to become the world's largest IPO in history.

According to Gate's official market data, SPCX opened at $150 on its first trading day, up about 11% from the issue price. The intraday high reached $176.5, with a maximum gain of about 30.7%. The closing price on the first day was $161.27, an increase of about 19.5%, with a closing market capitalization of about $2.1 trillion. The sharp price fluctuations on the first day reflected the high market sentiment and intense price discovery.

In terms of trading volume, SPCX's first-day trading volume on the Gate platform exceeded $100 million. Gate IPO Access's first project delivered convincing results in both subscription and trading aspects.

Deep Dive into Allocation Mechanism: Fair Distribution Logic Under Transparent Weights

Gate IPO Access is not a simple "first-come, first-served" rush, but adopts a transparent allocation mechanism based on time weight and capital proportion. The system calculates the final stock allocation weight based on the ratio of the user's average hourly locked amount during the intended subscription period to the overall average total intended subscription amount of the project.

The calculation formula is: Average Hourly Locked Amount = Sum of Hourly Lock Snapshots ÷ Total Hours of Subscription Period. Since the full-period average calculation method is used, the earlier the subscription is completed and the lock is maintained, the higher the average locked amount, and the greater the chance of obtaining a higher allocation weight.

From the actual allocation results of the SpaceX first project, Gate ultimately received a total allocation of approximately 33,900 shares of SPCX, corresponding to a value of about $20 million. The median allocation ratio for IPO Access was about 3%, and users who participated earlier received a higher allocation ratio.

It should be noted that IPO Access operates on an "intended subscription" mechanism, and the final result may be full allocation, partial allocation, or no allocation, depending on the actual IPO offering and the final allocation quota received by the platform. Unallocated portions and remaining subscription funds will be automatically returned to the user's spot account.

How IPO Access Works: The Full Process from Subscription to Stock Receipt

Gate IPO Access is a pre-listing stock subscription service launched by Gate. Users can submit intended subscription applications before the company officially lists. After the IPO issuance results are confirmed, the platform allocates stocks based on the actual allocation quota received. Successfully allocated stocks will be directly distributed to the user's Gate stock account, and users can trade the real stocks directly through the Gate stock board after the stock officially lists.

The essence of this mechanism is to establish a one-stop investment path from IPO subscription to secondary market trading. Users do not need to switch between multiple platforms, nor go through complex conversion processes from subscription to holding—allocated stocks are credited immediately, and once credited, they can be traded immediately.

Compared with traditional IPO participation methods, Gate IPO Access significantly lowers the participation threshold for ordinary users in the following dimensions:

• No need for an overseas securities account. Users only need to hold a Gate account and complete identity verification to participate, without needing to open an overseas broker account.
• Full participation with USDT. The entire subscription process is completed using USDT, so users do not need to handle complex operations such as fiat currency exchange and cross-border fund transfers.
• Extremely low participation threshold. Taking the first project SpaceX as an example, the minimum intended subscription amount was only 100 USDT, and the maximum was 500,000 USDT.
• No lock-up period for allocated stocks. Successfully allocated stocks can be traded on the Gate stock board on the listing date, with no traditional lock-up restrictions.

These characteristics point to a common fact: Gate IPO Access has digitally opened IPO subscription opportunities, originally limited to institutional investors and high-net-worth individuals, to a broader user base.

Outlook for Subsequent Projects: Continued Deployment in the Super IPO Year

The successful launch of SpaceX has led many users to focus on a core question: Besides SpaceX, what other projects does Gate IPO Access have? The answer is yes. Gate IPO Access is a platform-level service, and SpaceX is just the first project.

2026 is widely regarded as the "Super IPO Year," with unicorn companies such as SpaceX, OpenAI, Anthropic, and Stripe all potentially launching public offerings. Subsequent projects of Gate IPO Access will be rolled out gradually according to market rhythm and company listing schedules. Users can obtain the latest information through Gate's official announcements.

In fact, Gate has already built a complete ecosystem matrix around IPO investment opportunities. Beyond IPO Access, Gate has also launched a Pre-IPO product line, allowing users to gain tokenized exposure even earlier before the company's official IPO. The core difference between Pre-IPO and IPO Access lies in the participation stage: IPO Access involves subscription after the company officially starts the IPO process but before listing; while Pre-IPO involves obtaining economic exposure to the company's valuation through tokenized asset notes when the company has not yet formally submitted an IPO application or is in an earlier stage.

Taking SpaceX as an example, Gate first launched the SpaceX (SPCX) Pre-IPO token in April 2026. SPCX is a digital asset note that allows investors to gain economic exposure to SpaceX's pre-IPO valuation. The subscription price was 590 USDT per SPCX, with a total quota of 33,900 SPCX tokens, corresponding to a total pool of approximately $20 million. After successful subscription, the SPCX asset certificate is 100% unlocked, allowing immediate pre-market trading on the Gate platform.

In addition, Gate has also successively launched products such as Pre-IPOs, IPO Access, and gStocks tokenized securities, gradually forming a diversified product matrix covering pre-listing investment, post-listing real stock trading, and tokenized securities, providing users with a more complete one-stop global investment experience.

Summary

The successful implementation of Gate IPO Access's first project, SpaceX, with a cumulative intended subscription amount of $143 million and a participation scale of 13.4k people, has validated the market demand and technical feasibility of this service model. From the perspective of the allocation mechanism, the transparent distribution logic based on time weight and capital proportion finds an operable balance between fairness and efficiency.

From a broader perspective, the emergence of Gate IPO Access is not just the launch of a new business, but also reflects a market change that is happening: more and more digital asset users are extending their focus from the single crypto asset market to the broader global capital market. As the "Super IPO Year" continues to unfold, the subsequent projects of Gate IPO Access are worth continuous attention.

Frequently Asked Questions (FAQ)

Q1: What is Gate IPO Access?

Gate IPO Access is a pre-listing stock subscription service launched by Gate. Users can submit intended subscription applications before the company officially lists. After the IPO issuance results are confirmed, the platform allocates stocks based on the actual allocation quota received, and successfully allocated stocks are directly distributed to the user's Gate stock account.

Q2: What conditions are required to participate in Gate IPO Access?

Users only need to hold a Gate account and complete identity verification to participate. No overseas securities account is required, and the entire subscription is completed using USDT. Taking the first project SpaceX as an example, the minimum intended subscription amount was only 100 USDT.

Q3: Is a subscription intention guaranteed to receive stocks?

Not necessarily. IPO Access uses an "intended subscription" mechanism, which may result in three outcomes: full allocation, partial allocation, or no allocation. This depends on the actual IPO offering and the final allocation quota received by the platform. Unallocated portions and remaining subscription funds will be automatically returned.

Q4: What is the allocation mechanism of Gate IPO Access?

The system calculates the final stock allocation weight based on the ratio of the user's average hourly locked amount during the intended subscription period to the overall average total intended subscription amount of the project. The earlier the subscription is completed and the lock is maintained, the higher the average locked amount, and the greater the chance of obtaining a higher allocation weight.

Q5: What subsequent projects does Gate IPO Access have?

Gate IPO Access is a continuously operated platform-level service. 2026 is widely regarded as the "Super IPO Year," with unicorn companies such as SpaceX, OpenAI, Anthropic, and Stripe all potentially launching public offerings. Subsequent projects will be rolled out gradually according to market rhythm and company listing schedules. Users can obtain the latest information through Gate's official announcements.

Q6: Can allocated stocks be traded immediately?

Yes. Successfully allocated stocks can be traded on the Gate stock board on the listing date with no lock-up period.