#SPCX Gate Achieves a Historic First: SpaceX (SPCX) Stock Release Begins

A significant development is taking place, strengthening the bridge between crypto and traditional finance. Gate is making history in the industry by releasing the first tranche of SpaceX (SPCX) Pre-IPO shares, converting them directly into US stock. As of 20:00 UTC+8 today, 20% of eligible SPCX holdings will automatically be converted into SpaceX shares and deposited into users' Gate Stocks accounts.

How Will the Process Work?

In the first phase, a total of 33,900 SPCX (after a 1:5 stock split) will be released. The conversion will be at a 1:1 ratio, and users will now be able to trade these assets directly on the US stock exchange. This move aims to provide users with a seamless experience from pre-IPO investment to public market trading.

Things Users Should Note

There are certain conditions for the release to proceed smoothly. The rollout will be based on the SPCX balance in the spot account as seen in the account snapshot. Therefore, it is critical for users to check their open orders. If there is insufficient "available" SPCX due to pending buy/sell orders, the shares will not be rolled out in this round and will be postponed to subsequent rounds.

Market Reaction and Subsequent Process

The market appears to have reacted positively to this development. SPCX gained approximately 7% after the rollout, rising to $128, demonstrating investor confidence in this innovative mechanism. This initial 20% rollout marks the beginning of the gradual rollout of SpaceX shares. The rollout dates for the remaining shares will be determined later according to the company's own schedule and Gate's announcements. Gate continues to strengthen the integration between digital assets and the traditional financial world by providing its users with a transparent and reliable infrastructure throughout this process.

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