On June 9, 2026, Gate officially launched its "IPO Access" service, opening up pre-IPO subscription channels—traditionally monopolized by top brokerages and institutions—to users of its digital asset platform for the very first time. The inaugural project features global commercial space giant SpaceX, drawing significant attention from the market.
So, how exactly can you participate in Gate’s IPO Access projects? IPO Access is Gate’s exclusive pre-IPO stock subscription service. Users can submit their intent to purchase shares before a company officially lists. Once the IPO allocation is finalized, the corresponding shares are directly distributed to users’ Gate stock accounts, delivering a seamless "allocation at listing, shares delivered directly to your account" investment experience.
Compared to traditional IPO participation, Gate’s IPO Access introduces several key innovations:
- No overseas brokerage account required: Users only need a Gate account and completed identity verification to participate.
- USDT-only participation: No need to handle complex fiat currency conversions or cross-border fund transfers.
- Extremely low entry threshold: Participate with as little as 100 USDT.
- No lock-up period: Allocated shares can be traded on Gate’s stock platform the day they list.
Four Steps to Subscribe to Gate IPO Access Projects
Taking the first project, SpaceX, as an example, the complete participation process for Gate IPO Access consists of four steps:
Step 1: Access the IPO Access Page
After logging into Gate, users can enter the "Gate IPOs" section via Web or App. The path is: Home → Finance → IPO Access.
The project page provides detailed information, including company introduction, reference price, subscription period, allocation rules, and risk disclosures. Be sure to review all project details carefully before participating.
Step 2: Submit Your Intent to Subscribe
During the subscription window, users enter the amount they wish to participate with and submit their application.
For the SpaceX inaugural project, the key parameters are as follows:
- Subscription asset: USDT
- Reference subscription price: $135 per share
- Fee: 5% (calculated on the reference price; total cost per share is approximately 141.75 USDT)
- Minimum subscription amount: 100 USDT
- Maximum subscription amount: 500,000 USDT
Step 3: Complete Fund Lock-In
Once the subscription is confirmed, the corresponding USDT is locked.
During the lock-in period:
- Funds cannot be withdrawn
- Funds cannot be traded
- Funds cannot be transferred
The lock-in process is a crucial part of the IPO Access allocation mechanism and serves as the core basis for determining each user’s final allocation ratio.
Step 4: Await Allocation and Share Distribution
After the subscription period ends, the system calculates each user’s allocation weight based on their locked funds. Once the IPO results are confirmed, the platform allocates shares according to the actual allocation quota received.
Allocated shares are delivered directly to the user’s Gate stock account, and users can start trading once the shares are officially listed.
It’s important to note: Submitting an intent to subscribe does NOT guarantee an allocation. After submitting, users may receive a full allocation, a partial allocation, or no allocation at all.
Allocation Mechanism: The Earlier You Participate, the Higher Your Weight
Gate IPO Access uses a transparent weighted allocation mechanism rather than a simple "first come, first served" model.
The system calculates share allocations based on each user’s average hourly locked amount as a proportion of the project’s overall average intended subscription amount during the subscription period.
The formula is: Average hourly locked amount = Total of all hourly lock-in snapshots ÷ Total hours in the subscription period
Because the system uses a full-period average calculation, the earlier you complete your subscription and maintain your locked funds, the higher your average locked amount—and the greater your chance of receiving a higher allocation.
For example, three users each commit 100,000 USDT:
- User A commits in the first hour of the event → Average locked amount: 100,000 USDT
- User B commits at hour 33 → Average locked amount: 50,000 USDT
- User C commits only in the final hour → Average locked amount is very low
Clearly, the earlier and longer you lock your funds, the higher your allocation probability.
SpaceX Inaugural Project: Key Data Review
As the first project on Gate IPO Access, SpaceX delivered impressive results:
- Subscription window: June 9, 2026, 10:00 UTC to June 12, 2026, 04:00 UTC
- Total intended subscription funds: Exceeded $143 million
- Total participants: Over 13,400
SPCX shares were distributed to Gate stock accounts as scheduled on June 12. User feedback widely confirmed they "received their shares immediately", with a high fulfillment rate. SpaceX’s first trading day also stood out:
| Metric | Data |
|---|---|
| Issue price | $135 per share |
| Opening price | $150 (up ~11%) |
| Intraday high | $176.5 (up ~30.7%) |
| First-day closing price | $160.95 (up ~19.2%) |
| First-day closing market cap | Approximately $2.1 trillion |
As of June 17, SPCX shares were trading near $200, and SpaceX’s valuation surpassed $2.5 trillion.
Important Notes for Participating in Gate IPO Access
Allocation Uncertainty
Retail allocations for popular IPOs are often extremely limited. The global SpaceX IPO was oversubscribed by more than four times overall, with retail orders exceeding $100 billion and institutional demand surpassing $250 billion. Final allocation quotas are determined by the underwriting system, so users should manage expectations regarding allocation results.
Unallocated Funds Are Automatically Refunded
Any unallocated or remaining subscription funds will be automatically returned to your spot account by the system—no need to request a refund.
Complete Identity Verification Promptly
To participate in IPO Access, you must complete the platform’s required identity verification and meet the project’s regional and compliance requirements.
Update Your App Version
Stock trading features require Gate App version 8.21.5 or above.
Conclusion
Gate IPO Access digitizes and streamlines the entire pre-IPO process—project display, subscription application, fund lock-in, and allocation settlement—on a single platform, dramatically lowering the barrier for everyday investors worldwide to participate in top-tier tech IPOs.
Following SpaceX, Gate IPO Access is expected to introduce more global tech unicorns such as OpenAI, Anthropic, and xAI. For investors seeking to seize growth opportunities before leading companies go public, Gate IPO Access offers an unprecedented, low-barrier entry point.
