At 10:00 UTC on April 20, 2026, Gate officially launched its brand-new Pre-IPOs product line with the debut offering: SpaceX tokenized stock SPCX. The subscription window is open for just 48 hours, closing at 10:00 UTC on April 22.
Each SPCX unit is priced at 590 USDT, with a total allocation of 33,900 units. This implies a SpaceX valuation of approximately $1.4 trillion, and the first round’s total subscription cap is about $20 million. The minimum participation threshold is only 100 USDT or GUSD, breaking the traditional Pre-IPO market’s multimillion-dollar entry barrier. Any user worldwide who has completed KYC verification can participate.
Asset distribution is expected to be completed by 10:00 UTC on May 6, and pre-market trading will officially begin at 02:00 UTC on April 24. The platform has also launched the SPACEXUSDT perpetual contract, supporting 1–10x leverage, allowing users to position themselves early for potential SpaceX IPO gains.
A special reminder: SPCX does not represent direct SpaceX equity but is a mirror note. Holders have economic rights only; they do not receive voting rights or dividends and cannot convert SPCX directly into Nasdaq shares. SPCX reflects market speculation rather than the actual share price. If SpaceX’s eventual IPO price comes in below $590, the asset’s value will shrink accordingly. This product is suitable only for aggressive investors who fully understand the high risks of the crypto market and are highly optimistic about SpaceX’s IPO performance.
Hot Tokenized Stocks Shine: TSLAX, HOODX, and CRCLX Lead the Rally
In mid-April, several tokenized stocks on Gate recorded significant gains. Tesla tokenized stock TSLAX tracked the underlying stock’s rally, holding steady at $395 as of April 20, with a total asset value of about $78 million and over 20,000 holders. TSLAX supports 24/7 trading, and investors can buy fractional shares for as little as $10, breaking the traditional US stock market’s high entry barrier of several hundred dollars per share.
HOODX also delivered a strong performance. As US equities rebounded across the board, HOODX surged more than 30% in the past week. The rally was mainly driven by Robinhood’s stock price spike, the rollout of its tokenized stock business in Europe, and Robinhood being selected by the US Treasury and BNY as a core infrastructure provider for the "Trump Accounts" initiative.
Additionally, Circle tokenized stock CRCLX was priced at $102 as of April 20, up 16% over the past week. CRCLX tracks the equity price of Circle Internet Group, the core issuer of USDC, the world’s second-largest stablecoin. The main catalyst for this round of gains was anticipation surrounding the US Senate hearing on the CLARITY Act, a key piece of crypto asset regulation legislation.
Rapid Expansion of Perpetual Contracts: 30+ New Stock and ETF Listings
Since the start of 2026, Gate has continued to expand its tokenized stock product line. As of April 13, Gate had launched over 30 new perpetual contract products for stocks and ETFs throughout 2026, covering sectors such as tech giants, aerospace and defense leaders, consumer goods majors, and core ETFs.
Recent additions include MSFT (Microsoft), IBM, INTC (Intel), MCD (McDonald’s), CSCO (Cisco), ASML, LLY (Eli Lilly), MRVL (Marvell Technology), UNH (UnitedHealth Group), and ARM. All contracts are settled in USDT and support 1–20x long and short leverage. The index section has also launched the GER40 (Germany’s DAX 40 Index) perpetual contract, expanding trading options from individual stocks to major indices.
Industry Milestone: SEC Officially Approves NYSE Tokenized Securities Trading Rules
On April 18, the US Securities and Exchange Commission (SEC) officially approved the New York Stock Exchange’s (NYSE) proposed rule amendments, allowing eligible securities to be traded in both traditional and blockchain tokenized forms under the DTCC pilot program. Tokenized securities will share the same CUSIP trading codes as traditional stocks, ensuring full interchangeability between the two formats.
This policy breakthrough marks a crucial step in integrating traditional finance and blockchain technology, laying the regulatory groundwork for the long-term compliant development of the tokenized stock sector. Meanwhile, the 2026 Hong Kong Web3 Carnival is being held at the Hong Kong Convention and Exhibition Centre from April 20 to 23. On April 21, Sina Finance will host a roundtable themed "Stocks and Tokens: Breaking Boundaries, Coexisting in Compliance," where experts will discuss the convergence of traditional finance and digital assets.
Summary
April 20, 2026, marks several major milestones for Gate’s tokenized stock product line: the Pre-IPOs debut of SpaceX SPCX, opening private market opportunities to global retail investors with a low $100 entry point; popular tokens TSLAX, HOODX, and CRCLX have all posted significant recent gains, reflecting strong market interest in tech stocks and tokenized assets; and the continued expansion of tradable contracts offers traders more diverse leveraged trading options. At the same time, the SEC’s official approval of NYSE’s tokenized securities trading rules injects long-term confidence into the sector’s regulatory outlook. As of early 2026, cumulative trading volume in Gate’s tokenized stock section has surpassed $140 billion, with a single-month market share as high as 89.1%. Whether you’re a contract trader seeking leveraged opportunities or a spot investor looking to allocate to top global assets for the long term, Gate’s tokenized stock section offers a wealth of choices. For the latest updates, please follow Gate’s official announcements.
