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medium.comBinance introduced perpetual contracts tied to pre-IPO shares on May 21. The exchange captured more than 60 percent of category volume within days and reached roughly 65 percent by May 27, with cumulative trading near 400 million dollars.
Firms including Augment, Hiive and Sydecar package private shares of late-stage startups into special-purpose vehicles for institutional and retail buyers. The market has expanded rapidly as companies remain private longer and early gains accrue before public offerings.
Firms such as Augment, Hiive and Sydecar package private shares through layered special-purpose vehicles. Investors pay management fees, carried interest and access charges that can reach 18 percent before taxes.
financialpost.comInvestment firm Brookfield disclosed ownership of $2 billion in pre-IPO shares of SpaceX. Half the stake sits on the parent company’s balance sheet while the remainder is held by affiliated entities. The firm confirmed the holdings in a statement.
Substrate placeholder — needs reviewThe price of SpaceX pre-IPO shares on the Jupiter platform stood at $185 in October 2025. These shares represent structured instruments backed 1:1 by special purpose vehicle exposure to SpaceX. The instruments provide investors with direct price exposure to the private company.