June 12, 2026—Elon Musk’s SpaceX officially debuted on the Nasdaq under the ticker SPCX. The IPO was priced at $135 per share, raising a staggering $75 billion and shattering the previous record set by Saudi Aramco’s $29.4 billion IPO in 2019. This makes SpaceX’s offering the largest IPO in global history. Based on the IPO price, SpaceX’s market capitalization reached $1.77 trillion. After opening, shares briefly surged above $170 and closed up 19%, pushing the company’s market cap to approximately $2.3 trillion.
This landmark IPO not only marks a turning point for the aerospace industry but also provides an unprecedented proving ground for crypto asset platforms. Among them, Gate’s newly launched "IPO Access" program featured SpaceX as its inaugural project, quickly becoming one of the most talked-about crypto products during this IPO frenzy. So, how did users respond?
How Gate Enables End-to-End IPO Participation and Stock Trading
On June 9, 2026, Gate officially rolled out its "IPO Access" service. The first project was SpaceX, allowing users to submit subscription requests on the platform before the official listing. After the IPO allocation, the corresponding shares were distributed directly to users’ Gate stock accounts, delivering a seamless, one-stop investment experience: "allocation at listing, shares delivered instantly."
Compared to the traditional US IPO process, Gate’s IPO Access significantly lowers the entry barrier. Users don’t need to open overseas brokerage accounts, deal with complex fiat conversions, or manage cross-border fund transfers. Participation starts at just 100 USDT, with a maximum subscription amount of 500,000 USDT. The entire subscription process is completed in USDT, and allocated shares can be traded on Gate’s stock board the same day as the IPO—there’s no lock-up period.
For allocation, Gate uses a transparent time-weighted + capital proportion rule: the earlier and longer users commit their funds, the higher their allocation weight. This mechanism encourages early participation and ensures a relatively fair allocation for both large and small investors.
By the Numbers: Over 92 Million USDT Subscribed in 24 Hours, 13,400 Participants in Total
Market enthusiasm for Gate’s inaugural IPO Access project far exceeded expectations. According to official data, within 24 hours of SpaceX’s listing, intended subscriptions surpassed 92 million USDT, with nearly 10,000 participants. By the end of the subscription period, total subscriptions topped $143 million, with 13,400 users taking part. These figures highlight the crypto community’s intense interest in IPOs of top-tier global tech assets like SpaceX.
In terms of allocation, Gate ultimately received about 33,900 SPCX shares, valued at roughly $20 million. The median allocation ratio for IPO Access participants was about 3%, with early participants receiving a higher proportion. For many crypto investors, this was their first opportunity to participate in a major global tech IPO with just a few hundred dollars—a milestone achievement.
Real User Feedback: "Received Shares Instantly"—Fulfillment Rate Widely Praised
On SpaceX’s listing day, many crypto platforms offering IPO-related products faced delivery issues. Some platforms had significant shortfalls in their upstream allocations and couldn’t deliver the underlying shares, resulting in full refunds. Others, including major platforms, allocated a fixed amount—about 4.28 shares per user—regardless of investment size, sparking widespread community complaints.
In contrast, Gate emerged as a positive example during this IPO wave. By operating its own IPO Access channel independently and not relying on third-party tokenization platforms like xStocks, Gate’s allocation process was insulated from external supply chain disruptions. According to platform announcements, shares were distributed to Gate stock accounts as scheduled on June 12. User feedback overwhelmingly confirmed they "received shares instantly," with a high fulfillment rate.
Community discussions reflected this positive sentiment. Some users commented, "Finally, there’s a platform where ordinary users can access big tech IPOs with a low barrier to entry." Early participants shared detailed strategies and insights into the allocation logic. Overall, the feedback centered on Gate’s "transparency, reliability, and smooth experience."
It’s worth noting that as a highly anticipated new listing, SPCX’s price discovery process took several hours on its first day. The stock opened at $150—about 11% above the IPO price—and closed at $160.95. Gate simultaneously implemented single-order price limits and anti-high-frequency trading measures to help users execute trades smoothly in a volatile environment.
The Significance of IPO Access: How Crypto Platforms Are Reshaping Retail Participation in IPOs
SpaceX’s IPO is not just a milestone for the aerospace sector—it’s also a sign of the accelerating convergence between traditional capital markets and the crypto asset world.
Historically, retail investors faced three major barriers to participating in hot IPOs: minimum subscription amounts often in the tens of thousands of dollars, complex cross-border account opening and brokerage requirements, and sharply reduced allocations due to oversubscription. Gate’s IPO Access breaks down these barriers on a crypto platform. With a single Gate account, users can go from expressing interest to holding shares and trading on the secondary market—no need for multiple platforms, accounts, or currency exchanges.
For the crypto industry, IPO Access is also a crucial proof point: crypto platforms can do more than just handle crypto trading—they can serve as compliant bridges between digital assets and global public equity markets. Gate now supports USDT trading for over 10,000 US stocks and ETFs across major exchanges like NYSE and Nasdaq, including fractional share purchases starting from just 0.01 shares, offering investors worldwide more diverse and flexible asset allocation tools.
Conclusion
Gate’s inaugural IPO Access project with SpaceX delivered strong results, proving the market’s demand for low-barrier, highly transparent, end-to-end IPO investment experiences. With 13,400 participants and $143 million in total subscriptions, the numbers speak for themselves.
More importantly, while other platforms struggled with supply chain disruptions, Gate’s proprietary IPO Access channel enabled fully independent delivery. Users not only "received shares instantly," but also enjoyed a transparent, seamless, and controlled process. From subscription to holding to trading, Gate has established a complete product pathway from pre-IPO to public market trading, laying a solid foundation for future IPO Access projects with other high-quality companies.
As the line between digital assets and traditional finance continues to blur, Gate is taking an innovative lead—opening the door for global investors to access top-tier assets.
FAQ
Q1: How does Gate’s IPO Access differ from traditional broker IPO subscriptions?
Traditional US IPO subscriptions typically require users to have overseas brokerage accounts and meet strict asset and investor qualification thresholds. Gate’s IPO Access allows users to subscribe using USDT, eliminating the need for fiat conversion and cross-border transfers. Allocated shares are distributed directly to Gate stock accounts, supporting real ownership and trading—not just derivative contracts with price exposure.
Q2: What is the allocation rule for subscription requests?
Gate uses a transparent allocation mechanism based on time weighting and capital proportion. The earlier users lock in their subscriptions and the longer they hold during the subscription period, the higher their allocation weight. The number of shares allocated depends on the user’s weight, the platform’s total IPO allocation, and overall subscription demand. Final allocation results are announced through official channels after the subscription period ends.
Q3: When are unallocated subscription funds returned?
Any unsubscribed or surplus funds are automatically returned to users’ spot accounts after the IPO allocation, with no manual action required. The entire process is transparent and traceable.
Q4: Can allocated shares be sold immediately?
Yes. Once shares are distributed to Gate stock accounts after the IPO, users can trade them according to platform rules with no lock-up period. However, note that hot new listings often have a price discovery phase and temporary risk controls on the first day, so trading is available once the market officially opens.
Q5: What other companies might list via Gate’s IPO Access in the future?
Gate will continue to expand its portfolio of high-quality global assets and drive deeper integration between digital assets and traditional financial markets. Future project updates will be posted in real time on Gate’s official website and app in the IPO section—stay tuned.
