Gate Pre-IPOs Latest Project Overview: Which Unicorns Are Worth Watching in 2026?

In 2026, the global capital market is experiencing a rare IPO super cycle. Commercial space giant SpaceX officially listed on the Nasdaq on June 12, with a target valuation of up to $1.75 trillion; generative AI pioneer OpenAI is expected to go public in the fourth quarter, with a valuation of $852 billion. The combined valuation of the top ten global unlisted companies has swelled to over $4.5 trillion.

However, the "ticket" to this capital feast — Pre-IPO investment shares — has long been inaccessible to ordinary users. The traditional Pre-IPO market typically requires a minimum investment of millions or even tens of millions of dollars per transaction, along with stringent accredited investor verification.

In April 2026, Gate officially launched a digital Pre-IPO participation mechanism, opening early-stage investment channels previously exclusive to institutions to over 54 million users worldwide. As of today, Gate Pre-IPOs has formed a project matrix covering multiple top global unicorns.

Gate Pre-IPOs Mechanism Review: How Digitization Reshapes Early-Stage Investment

Before diving into specific projects, it is necessary to understand the core operating logic of Gate Pre-IPOs.

Gate's digital Pre-IPO mechanism essentially tokenizes traditional Pre-IPO equity or financing rights through blockchain technology, forming digital assets that can be subscribed and traded on the platform. Users do not need to open overseas securities accounts or meet high net worth thresholds; they only need to hold stablecoins like USDT to participate in subscription and trading.

This mechanism achieves structural breakthroughs in three dimensions.

Revolutionary leap in capital threshold. Traditional Pre-IPO investments typically require a minimum of $10 million per transaction. Gate's digital Pre-IPOs lowers the minimum participation threshold to 100 USDT. Taking the first project SpaceX (SPCX) as an example, the subscription price is 590 USDT per SPCX, allowing ordinary users to participate in Pre-IPO investment opportunities that previously required millions of dollars with just 100 USDT.

Institutional breakthrough in identity threshold. Traditional Pre-IPO investments usually require investors to pass "accredited investor" verification — personal net worth exceeding $1 million (excluding primary residence) or annual income exceeding $200k. Gate Pre-IPOs eliminates this requirement; users only need to complete the platform's KYC identity verification to participate.

24/7 liquidity and no lock-up period. Traditional private equity shares are typically locked for years, and investors can hardly exit before the IPO. Gate, through its PreToken minting and trading mechanism, allows users to freely trade PreTokens in the order book market, providing a 7×24 uninterrupted trading environment.

Gate Pre-IPOs Latest Project Overview

As of July 8, 2026, Gate Pre-IPOs has successively launched digital investment targets for multiple top global unlisted companies. The following is a summary of core projects.

SpaceX (SPCX): Benchmark Significance of a Listed Company

SpaceX is a US commercial space company founded by Elon Musk, with core businesses covering reusable rocket launches, Starlink satellite internet, and deep space exploration and crewed spaceflight. On April 1, 2026, SpaceX confidentially submitted its IPO registration documents to the US SEC, officially initiating the listing process.

SpaceX is the first project of Gate Pre-IPOs, with the corresponding asset certificate being SPCX. SPCX is essentially not SpaceX stock but a Mirror Note used to reflect SpaceX's market value changes before and after the IPO.

In terms of subscription parameters, the SPCX subscription price is 1 SPCX = $590, implying a SpaceX valuation of approximately $1.4 trillion, with a total supply of 33,900 SPCX, worth approximately $20.01 million. Supported currencies are USDT (70%) and GUSD (30%), with a single-user subscription cap of 339 SPCX and a minimum participation threshold of 100 USDT or 100 GUSD. The subscription period was from 18:00 on April 20, 2026, to 18:00 on April 22, 2026 (UTC+8). Within 24 hours of subscription opening, the total subscription amount exceeded $353 million, and the total fundraising scale for the first-phase SpaceX Pre-IPOs approached $395 million.

Based on Gate market data (as of July 8, 2026), SpaceX (SPCX) listed on June 12 at an issue price of $135, with a first-day opening price of $150. On the first day of listing, the stock price rose approximately 19%, subsequently continuing to surge in the following trading days, reaching an intraday high of $225.64 on June 16.

SpaceX's post-listing performance serves as an important reference for Pre-IPO crypto assets. Within just a few trading days after listing, SpaceX's stock price rose over 60% from the issue price, followed by a significant pullback. According to IPO filings, SpaceX has accumulated losses of $41.3 billion since its founding in 2002; in 2025, its net loss was $4.94 billion, and in the first quarter of 2026, revenue was $17.5k, but net loss widened to $45k. Additionally, SpaceX's public float at the time of listing was only about 4.2%. This extremely scarce supply amplified buying pressure during the upswing, while during the downturn, the same liquidity vacuum caused any size of sell orders to trigger sharp declines.

OpenAI and Anthropic: Dual Engines of the AI Track

OpenAI is the pioneer in the generative AI field, expected to go public in the fourth quarter of 2026, with a valuation of $852 billion after its latest funding round and plans to raise over $60 billion. Anthropic is another highly anticipated AI giant, forming the core layout of Gate Pre-IPOs in the AI track alongside OpenAI.

At 20:00 on April 13, 2026 (UTC+8), Gate's stock section launched pre-market perpetual contracts for five projects settled in USDT: OPENAI, ANTHROPIC, ANDURIL, KALSHI, and POLYMARKET, supporting 1x to 10x long and short operations. Each contract is priced based on a valuation unit of $1 billion.

This pre-market trading mechanism allows users to participate in the value changes of OpenAI and Anthropic through perpetual contracts before their official listings. Unlike Pre-IPO asset subscription, pre-market trading offers more flexible leverage and two-way trading possibilities, suitable for users with different risk preferences.

Other Notable Projects

In addition to the core projects above, Gate Pre-IPOs' product matrix continues to expand. According to public information, the following targets are also noteworthy:

Anduril — A unicorn in the defense technology sector, focusing on AI-driven defense systems and border security technology.

Kalshi — An event contract trading platform regulated by the US CFTC, with a first-mover advantage in the prediction market track.

Polymarket — A decentralized prediction market platform occupying an important position in the highly anticipated prediction market track in 2026.

Furthermore, Gate has successively launched 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. The platform now supports trading of over 12,500 stocks and ETFs.

How to Participate in the Latest Gate Pre-IPOs Projects

Gate compresses the Pre-IPO participation process into three core steps.

Step 1: Enter the portal. Visit the "Pre-IPOs" or "PreMarket" section on the Gate platform to view the list of projects currently open for subscription or pre-market trading. New project launches usually announce the subscription window in advance (typically 48 hours).

Step 2: Join the waitlist. Join the waitlist on the Pre-IPOs page to receive subscription reminders. The system will push subscription opening notifications through multiple channels including email and in-platform messages.

Step 3: Complete preparations. Complete KYC identity verification and ensure sufficient USDT or GUSD balance in your account for subscription.

Regarding the allocation mechanism, SPCX adopts an "average locked amount allocation" mechanism. The system calculates each user's proportion among all users based on their hourly average locked amount during the subscription period, thereby determining the final allocated share. The earlier the contribution and the longer the lock-up period, the higher the allocation weight. This time-weighted capital competition model effectively encourages long-term participation.

Conclusion

2026 is the "Super IPO Cycle" for global capital markets. Through tokenization technology, Gate Pre-IPOs opens Pre-IPO investment opportunities that were previously exclusive to institutions to over 54 million users worldwide in a digital format.

As of July 8, 2026, Gate Pre-IPOs has formed a project matrix covering multiple tracks including commercial aerospace (SpaceX), artificial intelligence (OpenAI, Anthropic), defense technology (Anduril), and prediction markets (Kalshi, Polymarket). SpaceX, as the first project, has successfully listed and provided a complete value mapping verification; AI giants like OpenAI have opened pre-listing participation channels to users through pre-market perpetual contracts.

Through continuous iteration of products like Pre-IPOs, IPO Access, and gStocks, Gate is building a complete product matrix covering pre-listing investment, IPO subscription, and post-listing stock trading. For users who wish to participate in the early value growth of top global unlisted companies, Gate Pre-IPOs provides an unprecedented digital pathway.

FAQ

Q1: Which projects are currently available on Gate Pre-IPOs?

As of July 8, 2026, Gate Pre-IPOs has launched or opened pre-market trading for projects including SpaceX (SPCX), OpenAI, Anthropic, Anduril, Kalshi, and Polymarket. The specific list of projects open for subscription shall be subject to the real-time display on Gate's "Pre-IPOs" section.

Q2: What is the minimum capital requirement to participate in Gate Pre-IPOs?

The minimum participation threshold for Gate Pre-IPOs is 100 USDT or equivalent stablecoins. Users do not need to meet the multi-million dollar threshold or accredited investor status required by traditional Pre-IPO investments.

Q3: What is the difference between SPCX and SpaceX stock?

SPCX is the asset certificate corresponding to SpaceX, the first phase of Gate Pre-IPOs. It is essentially a Mirror Note used to reflect SpaceX's market value changes before and after the IPO. SPCX does not represent ownership of SpaceX stock nor does it carry shareholder rights.

Q4: Can I exit early after subscribing to Pre-IPOs?

Yes. Through its PreToken minting and trading mechanism, Gate allows users to freely trade PreTokens in the order book market. The platform provides a 7×24 uninterrupted trading environment, allowing users to adjust their strategies at any time based on the latest information.

Q5: What are the risks of Pre-IPO investments?

Pre-IPO assets are subject to valuation uncertainty and may have low liquidity. Unlisted companies may be affected by multiple factors such as market conditions, industry competition, policy adjustments, business operations, and the global macro environment. Additionally, the regulatory scope of such products may vary across jurisdictions. Users should fully understand project information and make judgments based on their own risk tolerance before participating.