On May 22, 2026, Gate officially completed the share split of SpaceX (SPCX) asset certificates, strictly following SpaceX’s official 1:5 stock split plan. User holdings were automatically multiplied by five. After the split, the pre-market trading price for each SPCX asset certificate was adjusted downward to one-fifth of its original value, with the subscription price dropping from $590 to $118.
As of June 2, 2026, SPCX is trading at $179 in the pre-market, down 2.6% over 24 hours. Based on the post-split subscription price of $118, SPCX has now gained over 50% in total, delivering substantial paper profits for users who participated in the initial subscription.
This surge validates the wealth effect of Gate Pre-IPOs: the logic of "Position before listing, premium after IPO" is being realized in practice.
Split Details: SPCX Enters a New Era of "Lower Price, Higher Liquidity"
This was a 5-for-1 forward stock split. While the total net asset value of users’ SPCX holdings remained unchanged, the number of certificates held increased fivefold.
Market Reaction Post-Split:
According to data released by Gate, within 24 hours of the split, the pre-market spot price for SPCX peaked at $189.90, with cumulative gains reaching as high as 60.93%. Although prices later corrected with market sentiment, settling at $179 on June 2, returns remain impressive compared to the $118 subscription price, with an actual gain of 51.7%.
This change had a dual impact: on one hand, the lower price significantly reduced the entry barrier for new participants, helping attract more liquidity to the pre-market; on the other, the post-split price trend shows that market expectations for a SpaceX IPO remain strong.
SpaceX IPO Timeline: Pricing on June 11, Nasdaq Debut on June 12
According to Reuters, SpaceX’s IPO timeline has moved up by nearly two weeks from the original plan: pricing is set for June 11, with the official Nasdaq debut on June 12.
SpaceX is targeting a valuation between $1.75 trillion and $2 trillion, with its roadshow scheduled to begin the week of June 8, 2026. CFO Bret Johnsen has made it clear that retail investors will have a larger allocation in this IPO than ever before. Gate’s Pre-IPOs product gives users structured investment opportunities several weeks before the roadshow begins.
As the IPO countdown continues, the correlation between SPCX’s price and SpaceX’s expected valuation is becoming clearer. If SpaceX achieves the upper end of its target valuation at IPO, there’s still further upside potential for SPCX’s pre-market price.
Gate’s Track Record: Exclusive Projects See Median Gains of 81% in First 30 Minutes
Gate’s wealth effect in the Pre-IPOs space is a direct result of its proven project selection capabilities in the crypto asset sector.
According to Gate’s official 2025 spot listing data, a total of 447 new assets were listed throughout the year, with about 71% being first-time launches. Notably, exclusive first-launch projects stood out:
- Nearly 80% of exclusive projects posted gains within 30 minutes of launch, with a median increase of about 81%
- Over one-third of exclusive projects saw gains of ≥100% within 30 minutes
- Across all first-launch projects, the 24-hour median gain was 12.56%, significantly higher than the 1.18% for non-first launches
These figures make it clear: whether in Pre-IPOs or new crypto asset listings, Gate consistently demonstrates strong project selection and early-stage wealth creation. First-launch projects, especially exclusive ones, show a high rate of positive returns and outperformance in their initial phase.
OpenAI in the Spotlight: The Next Pre-IPOs Super Opportunity
Following SpaceX, OpenAI is emerging as the next highly anticipated Pre-IPOs target.
In May 2026, OpenAI prepared to confidentially file its IPO documents with the SEC, aiming for a listing as early as September 2026, with a target valuation exceeding $1 trillion and plans to raise around $60 billion. By the end of March 2026, OpenAI had secured $122 billion in committed investments, with a post-money valuation of $852 billion. If the September window opens as planned, this will be one of the most high-profile IPOs in AI industry history.
Gate has already launched pre-market perpetual contracts for OPENAI, supporting both long and short positions with 1–10x leverage, giving users a way to position early for OpenAI’s IPO windfall.
Regulatory Environment Continues to Improve: Tokenized Pre-IPOs Gain Policy Support
Since 2026, the US crypto regulatory landscape has seen significant progress, providing a policy foundation for the continued development of Gate Pre-IPOs.
On March 11, 2026, the SEC and CFTC signed a historic memorandum of understanding, establishing a comprehensive interagency coordination framework. On March 17, the two agencies jointly released a 68-page formal interpretive guidance, clarifying how federal securities laws apply to crypto assets.
At the exchange level, Nasdaq received SEC approval in March to advance its own tokenized securities program. Although the SEC temporarily paused third-party innovation exemptions for "tokenized stocks" at the end of May, the ongoing "Project Crypto" initiative indicates that regulators are clearly moving toward legalizing tokenized assets.
Important Risk Warnings You Shouldn’t Ignore
While focusing on the wealth effect of Pre-IPOs, investors must fully understand these key risks:
Not direct equity. SPCX uses a mirror note structure. Users do not receive actual SpaceX shares, and thus do not have equity rights, dividends, or voting power.
Market risk. Pre-IPO asset prices are highly influenced by market sentiment and speculation. Early price discovery is incomplete, and volatility can be significant. For example, SPCX hit a high of $189.90 within 24 hours after the split, then pulled back, reflecting this volatility.
IPO failure risk. If the underlying company fails to go public, your investment may face losses. Investors should fully understand the product’s nature and plan their capital accordingly.
Conclusion
Looking at the post-split performance of SpaceX SPCX, the wealth effect of Gate Pre-IPOs is real and verifiable:
The first project, SpaceX (SPCX), was subscribed at $118 (post-split price). As of June 2, 2026, the pre-market price stands at $179, up over 50% from the subscription price.
Gate’s 2025 spot listing data further confirms its strong project selection: Exclusive projects saw a median 30-minute gain of about 81%, nearly 80% posted gains, and over one-third gained ≥100%.
On June 12, 2026, SpaceX will officially debut on Nasdaq. OpenAI is targeting a September IPO with a valuation above $1 trillion. The Pre-IPO super cycle of 2026 is still underway, and for ordinary investors, Gate Pre-IPOs offers an unprecedented low-barrier channel—with a minimum investment as low as $1 USDT—to capture the listing windfall of these super unicorns ahead of time.
Of course, high returns come with high risks. While chasing wealth effects, investors are advised to manage their capital wisely and participate rationally.
