Many investors are eager to gain access to high-profile private companies like SpaceX. But unless you work there or have millions to burn, getting shares in firms like SpaceX, Stripe, or OpenAI has been nearly impossible.
That is changing. Kind of.
Republic just launched SpaceX Tokens, a new way for regular investors to get economic exposure to private giants like SpaceX.
#What Are SpaceX Tokens?
Let’s be clear. This is not SpaceX stock.
Instead, you are buying a debt instrument from RepublicX LLC, a subsidiary of Republic. The instrument is called a Contingent Event Note and is tied to the value of SpaceX’s stock. If SpaceX goes public or gets acquired, and the stock is worth more than it was when you invested, you get paid the difference in cash. Not stock, not crypto.
Think of it like a bet on SpaceX’s future. If they win, so do you.
#How Republic’s SpaceX Tokens Work
You buy a token with a minimum of $50 and a maximum of $5,000 per investor (via Reg CF).
Tokens are subject to a 12-month lock-up period after purchase. Afterward, Republic intends to make them tradable on the INX exchange, but secondary market liquidity is not guaranteed.
Republic sets the token value based on SpaceX’s latest private-market valuations (~$225–$275/share), using public transaction data. This valuation is based on recent private transactions, including tender offers and secondary market quotes. It may not reflect SpaceX’s current or future fair market value.
When SpaceX has a liquidity event, such as an IPO or acquisition, RepublicX pays you cash based on how much that value goes up.
Example:
You buy in when SpaceX is worth $200 billion
It has an IPO at $400 billion
RepublicX owes you a payout based on that gain
What You Do Not Get
No shares in SpaceX
No voting rights
No dividends. However, if SpaceX distributes dividends prior to a liquidity event, those may be reflected in your payout.
No access to company financials
You are not investing in SpaceX. You are investing on SpaceX and trusting RepublicX to pay out.
#Are SpaceX Tokens Safe?
The big risk is counterparty trust. RepublicX does not guarantee that it holds SpaceX shares or any specific hedge. Investors are reliant solely on RepublicX’s financial position and management of reserves.
You are counting on RepublicX to have the money to pay you when the time comes. They say they will hold some SpaceX exposure, but they do not promise they are fully covered. If SpaceX explodes in value and they owe millions to token holders, it is on them to come up with the cash.
You are also betting that regulators do not shut this down. These notes are novel financial instruments and may face regulatory scrutiny or legal reinterpretation, especially as securities law evolves around synthetic assets. These tokens are unsecured debt instruments, and you are a creditor to RepublicX, not an equity holder of SpaceX.
#Why Investors Are Excited About SpaceX Tokens
Real exposure to top tier private companies
Tiny minimums
No accredited investor status needed
Could expand to Stripe, Anthropic, OpenAI, xAI, and more
#Key Risks to Know Before Buying SpaceX Tokens
It is not stock
It is not guaranteed
You are relying on RepublicX, not the company itself
If SpaceX never goes public, you may wait a long time or forever
#Should You Invest in Republic’s SpaceX Tokens?
Republic’s SpaceX Token is a debt-based synthetic exposure instrument, giving you potential upside without actual ownership. It is bold, new, and risky. Mirror Tokens offer a new, speculative option for retail investors to track private-company performance—but carry risks of illiquidity, default, and legal uncertainty.
Republic’s Mirror Tokens program now includes rAnthropic, offering similar exposure to leading private companies like Anthropic alongside SpaceX.