June 12, 2026, marked a historic milestone as Elon Musk’s Space Exploration Technologies Corp (SpaceX) officially debuted on NASDAQ under the ticker SPCX, with an initial offering price set at $135 per share. This highly anticipated IPO captured the attention of global capital markets, representing not only a pivotal moment for the aerospace industry but also a landmark event for crypto asset platforms participating in traditional, top-tier IPOs.
As the inaugural project for Gate IPO Access, SpaceX underwent a full-cycle trial from subscription opening, stock allocation, to secondary market trading—all completed within just a few days. SPCX’s post-listing performance was exceptional: pre-market trading saw prices surge past $200, nearly a 50% increase over the IPO price, drawing widespread market attention.
Project Overview: $143 Million Subscribed, 13,400 Participants
The subscription window for Gate IPO Access’s first project, SpaceX, opened on June 9, 2026, and closed at 12:00 PM on June 12 (UTC). The final tally saw total intended subscription funds exceed $143 million, with more than 13,400 participants. Within the first 24 hours, intended subscriptions surpassed $92 million USDT.
Subscription requirements for this round were accessible, with a minimum intended subscription of 100 USDT and a maximum of 500,000 USDT. The reference subscription price was $135 per share, plus a 5% fee, totaling approximately 141.75 USDT per share. All subscriptions were completed using USDT, and allocated shares could be traded on Gate’s stock section on the listing day, with no lock-up period. This mechanism significantly lowered the barrier for global retail investors to participate in top tech IPOs.
In terms of allocation results, Gate ultimately received approximately 33,900 SPCX shares, valued at about $20 million. The median allocation ratio for IPO Access was around 3%, with earlier participants receiving higher allocation ratios.
SPCX Market Performance: From $135 IPO Price to Over $200
SpaceX’s IPO set new records of its own. The offering price was fixed at $135 per share, valuing the company at roughly $1.77 trillion and raising a staggering $75 billion—surpassing Saudi Aramco’s $29.4 billion record from 2019 to become the largest IPO in global history. The IPO was oversubscribed more than fourfold, with Goldman Sachs leading a syndicate of 21 global investment banks.
On its first trading day, SPCX opened at $150, up about 11% from the IPO price, and closed at $160.95, a gain of 19.22%. Intraday highs reached $176.5, marking a peak increase of roughly 30.7%.
Even more notable, SPCX briefly broke $200 in pre-market trading, nearly a 50% jump over the IPO price. As of the US market close on June 17, SPCX was priced at $201.8, up more than 4.8%, with a total market cap exceeding $2.7 trillion—surpassing Amazon to rank fifth on the US stock market. During the session, the stock soared over 19% to $229.85, with its market cap briefly topping $3 trillion.
SPCX-related trading on Gate was equally robust. According to data shared by CryptoQuant analysts, Gate’s tokenized SpaceX stock product saw first-day trading volumes exceed $100 million, far outpacing all other tokenized stock listings on the platform.
Allocation Complete: The Key Leap from Subscription to Holding
On June 12, 2026, Gate officially announced the completion of stock allocation for its first IPO Access project, SpaceX (SPCX). Users who successfully received allocations could view their SPCX holdings in their Gate stock accounts and proceed with subsequent trading based on market conditions. Unallocated portions and remaining subscription funds were automatically returned to users’ spot accounts.
While the allocation process may seem straightforward, it actually involves several complex steps, including IPO allocation, stock settlement, and account distribution. For investors, the IPO journey is only truly complete when shares are credited to their accounts. Gate successfully validated the end-to-end process from IPO subscription to stock trading, accumulating valuable experience for future projects.
Gate IPO Access: Differentiated Advantages
During the SpaceX IPO, several crypto platforms faced delivery issues—some were forced to refund in full due to severe upstream allocation shortages and insufficient underlying shares; others, regardless of user investment size, could only allocate about 4.28 shares per user.
In contrast, Gate stood out as a positive example in this IPO wave. Operating independently through its proprietary IPO Access channel, Gate avoided reliance on third-party tokenization platforms, ensuring its allocation process was unaffected by external supply chain disruptions. Platform announcements confirmed that shares were distributed to Gate stock accounts as scheduled on June 12, with widespread user feedback confirming "instant delivery" and high fulfillment rates.
Gate’s allocation mechanism features a transparent rule combining time-weight and capital proportion—the earlier users participate and the longer they lock their funds, the greater their allocation weight. This approach encourages prompt action and provides relatively fair allocation opportunities for users across different capital sizes.
What Does Gate’s Completion of SpaceX IPO Allocation Mean?
The successful completion of Gate IPO Access’s first SpaceX project sends several important signals:
First, crypto platforms’ channels for participating in traditional IPOs are being validated. Gate’s full-cycle trial proved that users can access top global IPOs through a crypto asset platform with low barriers, enjoying a "listing-to-allocation, direct-to-account" seamless investment experience.
Second, inclusive participation in hot IPOs is now possible. Traditional IPOs typically favor top institutions and ultra-high-net-worth individuals, but Gate IPO Access lowered the minimum entry to 100 USDT. With 13,400 participants, it’s clear that retail investors have a strong desire to engage with top tech IPOs.
Third, fulfillment capability is a core competitive advantage. Amid widespread delivery issues on other platforms, Gate’s independent channel and reliable execution earned user trust and positive reputation.
Conclusion
Gate IPO Access’s inaugural SpaceX (SPCX) project has successfully completed stock allocation, with SPCX posting strong performance after listing—briefly breaking the $200 mark, nearly a 50% increase from the $135 offering price. From $143 million in intended subscriptions and 13,400 participants, to a 3% median allocation ratio and the reputation for "instant delivery," Gate demonstrated the feasibility and appeal of its IPO Access product with real data.
For crypto industry investors, Gate IPO Access offers an unprecedented path—participate in global top-tier IPOs with USDT, no need for overseas brokerage accounts or complex fiat conversions, starting from as little as 100 USDT. With the success of the first project, Gate IPO Access will continue to launch more subscription opportunities for popular companies.
SPCX breaking $200 is not just a price milestone—it’s a successful validation of crypto platforms connecting to traditional capital markets. For investors who missed SpaceX, Gate IPO Access’s next project may well be worth watching.
