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Tokenized Shares in Elon Musk's SpaceX Coming From Republic: WSJ
Future token launches could include those on shares of OpenAI and Anthropic, according to the report.
Jun 25, 2025, 12:59 p.m.
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What to know:
- Investment firm Republic is launching blockchain-based rSpaceX tokens, which aim to track the value of Elon Musk's company.
- The tokens are promissory notes issued under Regulation Crowdfunding, and token holders will collect any upside in cash if the company lists or is bought, while not actually holding shares.
- Republic plans to list the tokens on the INX exchange.
Investment firm Republic is set to let retail investors gain exposure to one of tech’s most coveted startups, Elon Musk’s SpaceX.
Starting this week, the platform plans to sell blockchain-based rSpaceX tokens, whose value is set to track the value of the privately-held SpaceX, reports the WSJ.
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Each rSpaceX token is a promissory note issued under Regulation Crowdfunding, a provision in the 2012 JOBS Act that allows small securities sales to retail buyers.
Holders of the rSpaceX token won't be shareholders in the company, which was valued at $350 billion in December last year, but would participate in price action of the shares.
Republic is known for offering retail investors access to investments typically otherwise off-limits. Its future token launches could include notes on shares of OpenAI and Anthropic, according to the WSJ report.
Permission from SpaceX or other firms isn’t necessary as the tokens represent securities sold by Republic itself, said Republic CEO Kendrick Nguyen.
Investors will be able to trade the tokens on INX, an exchange Republic is in the process of acquiring. There is, however, a one-year holding period.
Other projects in the crypto sector are also looking to offer retail investors access to investments previously reserved for high-net-worth individuals. BNB Smart Chain-based Paimon Finance this week launched SPCX, a token it says offers exposure to SpaceX shares.
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