Is DXYZ the New VCX? Investors Flock to SpaceX Proxy Trade; Discover Destiny Tech100's Leading Holdings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 26 2026
0mins
Should l Buy DXYZ?
Source: stocktwits
SpaceX's Portfolio Exposure: SpaceX accounts for approximately 16.2% of Destiny Tech 100's portfolio, significantly higher than the 5% exposure in VCX, indicating its central role in investor positioning ahead of a potential large IPO.
Market Sentiment and Volatility: The first month post-IPO for SpaceX could experience volatility driven by index buying, meme-driven optimism, and lock-up dynamics, as investors anticipate a valuation near $1.75 trillion.
Investment Trends: Destiny Tech 100 is heavily invested in various tech companies, with significant stakes in firms like Shield AI and Databricks, which are expected to lead the next cycle of mega-cap tech listings.
Retail Investor Sentiment: Retail sentiment for Destiny Tech 100 remains extremely bullish, with a notable surge in trading volume, reflecting growing interest in newer portfolio-access vehicles and potential future valuations.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy DXYZ?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on DXYZ
About DXYZ
Destiny Tech100 Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to maximize the portfolio’s total return, principally by seeking capital gains on equity and equity-related investments. Under normal market conditions, the Fund will invest at least 80% of its total assets in equity and equity-linked securities of companies principally engaged in the technology sector. The Fund will invest in the equity and equity-linked securities of what it believes to be rapidly growing venture-capital-backed emerging companies, located in the United States. The Fund may also invest on an opportunistic basis in select United States publicly traded equity securities or certain non-United States companies that otherwise meet its investment criteria. It concentrates its investments in companies operating in one or more industries within the technology group of industries. Destiny Advisors LLC serves as the investment adviser to the Fund.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
SpaceX Files for IPO with $1.75 Trillion Valuation
- IPO Filing: SpaceX filed for its IPO last month and is expected to go public within the next few months, seeking a staggering valuation of $1.75 trillion, which would make it the largest IPO in history, reflecting strong market confidence in its growth potential.
- Investment Channels: Before the IPO, investors can access SpaceX through private secondary markets or specialized funds and ETFs like ERShares Private-Public Crossover ETF and Destiny Tech100 ETF; however, these options come with low liquidity, high fees, and require accredited investor status.
- Market Access Restrictions: While European investors can buy SpaceX's SPVs directly on Robinhood, the platform is not authorized to offer these SPVs in the U.S. market yet, limiting investment options for U.S. investors.
- Retail Investment Opportunities: SpaceX is reportedly considering offering 20%-30% of its shares to retail investors through traditional brokerages, suggesting that investors might be better off waiting for the official IPO rather than pursuing unstable private market investments.
See More
Investment Opportunities Before SpaceX IPO
- Diverse Investment Channels: Investors can buy private shares of SpaceX through secondary markets, specialized ETFs, or tokenized SPVs, providing access to a company valued at $1.75 trillion, which is expected to become the world's largest IPO.
- Liquidity and Fee Challenges: While private markets offer investment opportunities, they suffer from low liquidity, high fees, and long settlement times, restricting participation to accredited investors with high net worth, thus limiting access for average investors.
- Opportunities in Europe: In Europe, investors can directly purchase SpaceX's SPVs on Robinhood, which is not yet authorized to offer these in the U.S. market, forcing American investors to wait for SpaceX's official IPO.
- IPO Outlook: SpaceX is expected to offer 20%-30% of its shares to retail investors during the IPO, leading many to prefer waiting for the official market debut rather than engaging in unstable private market investments.
See More
SpaceX Plans Summer IPO Valued at $1.75 Trillion
- IPO Anticipation: SpaceX is set to launch its IPO this summer with a projected valuation of $1.75 trillion, potentially the highest in IPO history, which has sparked significant investor interest and could have a major market impact.
- Alphabet Investment: Google parent Alphabet invested $900 million in SpaceX in 2015, acquiring approximately 6.11% of its shares, and if SpaceX successfully goes public, this investment could be worth around $105 billion, enhancing Alphabet's competitive edge in the AI sector.
- EchoStar Partnership: EchoStar is planning to sell spectrum licenses to SpaceX, which will result in millions of SpaceX shares for EchoStar, with the deal expected to receive regulatory approval in the first half of this year, leading to a 420% stock increase for EchoStar over the past year due to its relationship with SpaceX.
- Fund Investment Options: The Baron Partners Fund and Ark Venture Fund hold 33% and 17% of their portfolios in SpaceX, respectively, providing indirect investment opportunities for investors before the IPO, although these funds come with higher investment thresholds and lower liquidity.
See More
Alphabet's Investment in SpaceX and IPO Prospects
- Investment Background: Alphabet has invested in SpaceX since 2015 alongside Fidelity, initially contributing $900 million when SpaceX was valued at around $12 billion, holding approximately 7%, and now reduced to 6.11%, still a significant stake.
- IPO Expectations: SpaceX plans to IPO this summer with an anticipated valuation of $1.75 trillion, potentially the highest in IPO history, generating substantial investor interest, with Alphabet's investment potentially worth around $105 billion if successful.
- Partnership Dynamics: EchoStar, a key partner of SpaceX, plans to sell spectrum licenses and is expected to gain millions of SpaceX shares, with the agreement awaiting regulatory approval, and the market remains optimistic about its success.
- Investment Options: For average investors, investing in Alphabet is the best way to gain indirect exposure to SpaceX, although waiting for SpaceX's IPO is the most direct route, Alphabet's investment offers a relatively stable return potential amidst volatility.
See More
SpaceX Files for IPO, Multiple Investment Avenues Available
- Diverse Investment Opportunities: SpaceX's recent IPO filing has generated excitement among investors, who can participate through SoFi's Cosmos Fund, which focuses solely on SpaceX and is open only to accredited investors.
- ETF Investments: Cathie Wood's Ark Venture Fund currently holds a 17% position in SpaceX, reflecting strong confidence in the company and potentially enhancing the fund's overall performance.
- Crossover Investment Strategy: The ERShares Private-Public Crossover ETF allocates 27% of its portfolio to SpaceX, indicating a strategy that blends investments in both public and private companies, thereby enhancing investor diversification options.
- Indirect Investment Channels: Investors can also gain exposure to SpaceX by investing in companies like Alphabet, which owns over 6% of the company, and EchoStar, which has a pending deal that could grant it SpaceX shares pending regulatory approval.
See More
Investment Opportunities in SpaceX Ahead of IPO
- Diverse Investment Channels: Although SpaceX is not yet public, investors can access the company through SoFi's Cosmos Fund, a private equity fund exclusively for accredited investors, indicating strong market interest in SpaceX.
- Significant ETF Investment: Cathie Wood's Ark Venture Fund currently holds a 17% stake in SpaceX, while the ERShares Private-Public Crossover ETF has an even higher allocation of 27%, reflecting the funds' commitment to the company.
- Investment Management Company Involvement: Destiny Tech 100 identifies SpaceX as its largest position, accounting for 16.2% of its portfolio, further demonstrating market confidence and growth expectations for the company.
- Indirect Investment Opportunities: Investors can also gain exposure to SpaceX through companies like Alphabet, which owns over 6% of the firm, and EchoStar, which has a pending deal for shares pending regulatory approval, showcasing strategic positioning towards SpaceX.
See More
SpaceX Files for IPO with $1.75 Trillion Valuation
- IPO Filing: SpaceX filed for its IPO last month and is expected to go public within the next few months, seeking a staggering valuation of $1.75 trillion, which would make it the largest IPO in history, reflecting strong market confidence in its growth potential.
- Investment Channels: Before the IPO, investors can access SpaceX through private secondary markets or specialized funds and ETFs like ERShares Private-Public Crossover ETF and Destiny Tech100 ETF; however, these options come with low liquidity, high fees, and require accredited investor status.
- Market Access Restrictions: While European investors can buy SpaceX's SPVs directly on Robinhood, the platform is not authorized to offer these SPVs in the U.S. market yet, limiting investment options for U.S. investors.
- Retail Investment Opportunities: SpaceX is reportedly considering offering 20%-30% of its shares to retail investors through traditional brokerages, suggesting that investors might be better off waiting for the official IPO rather than pursuing unstable private market investments.
See More
Investment Opportunities Before SpaceX IPO
- Diverse Investment Channels: Investors can buy private shares of SpaceX through secondary markets, specialized ETFs, or tokenized SPVs, providing access to a company valued at $1.75 trillion, which is expected to become the world's largest IPO.
- Liquidity and Fee Challenges: While private markets offer investment opportunities, they suffer from low liquidity, high fees, and long settlement times, restricting participation to accredited investors with high net worth, thus limiting access for average investors.
- Opportunities in Europe: In Europe, investors can directly purchase SpaceX's SPVs on Robinhood, which is not yet authorized to offer these in the U.S. market, forcing American investors to wait for SpaceX's official IPO.
- IPO Outlook: SpaceX is expected to offer 20%-30% of its shares to retail investors during the IPO, leading many to prefer waiting for the official market debut rather than engaging in unstable private market investments.
See More
SpaceX Plans Summer IPO Valued at $1.75 Trillion
- IPO Anticipation: SpaceX is set to launch its IPO this summer with a projected valuation of $1.75 trillion, potentially the highest in IPO history, which has sparked significant investor interest and could have a major market impact.
- Alphabet Investment: Google parent Alphabet invested $900 million in SpaceX in 2015, acquiring approximately 6.11% of its shares, and if SpaceX successfully goes public, this investment could be worth around $105 billion, enhancing Alphabet's competitive edge in the AI sector.
- EchoStar Partnership: EchoStar is planning to sell spectrum licenses to SpaceX, which will result in millions of SpaceX shares for EchoStar, with the deal expected to receive regulatory approval in the first half of this year, leading to a 420% stock increase for EchoStar over the past year due to its relationship with SpaceX.
- Fund Investment Options: The Baron Partners Fund and Ark Venture Fund hold 33% and 17% of their portfolios in SpaceX, respectively, providing indirect investment opportunities for investors before the IPO, although these funds come with higher investment thresholds and lower liquidity.
See More
Alphabet's Investment in SpaceX and IPO Prospects
- Investment Background: Alphabet has invested in SpaceX since 2015 alongside Fidelity, initially contributing $900 million when SpaceX was valued at around $12 billion, holding approximately 7%, and now reduced to 6.11%, still a significant stake.
- IPO Expectations: SpaceX plans to IPO this summer with an anticipated valuation of $1.75 trillion, potentially the highest in IPO history, generating substantial investor interest, with Alphabet's investment potentially worth around $105 billion if successful.
- Partnership Dynamics: EchoStar, a key partner of SpaceX, plans to sell spectrum licenses and is expected to gain millions of SpaceX shares, with the agreement awaiting regulatory approval, and the market remains optimistic about its success.
- Investment Options: For average investors, investing in Alphabet is the best way to gain indirect exposure to SpaceX, although waiting for SpaceX's IPO is the most direct route, Alphabet's investment offers a relatively stable return potential amidst volatility.
See More
SpaceX Files for IPO, Multiple Investment Avenues Available
- Diverse Investment Opportunities: SpaceX's recent IPO filing has generated excitement among investors, who can participate through SoFi's Cosmos Fund, which focuses solely on SpaceX and is open only to accredited investors.
- ETF Investments: Cathie Wood's Ark Venture Fund currently holds a 17% position in SpaceX, reflecting strong confidence in the company and potentially enhancing the fund's overall performance.
- Crossover Investment Strategy: The ERShares Private-Public Crossover ETF allocates 27% of its portfolio to SpaceX, indicating a strategy that blends investments in both public and private companies, thereby enhancing investor diversification options.
- Indirect Investment Channels: Investors can also gain exposure to SpaceX by investing in companies like Alphabet, which owns over 6% of the company, and EchoStar, which has a pending deal that could grant it SpaceX shares pending regulatory approval.
See More
Investment Opportunities in SpaceX Ahead of IPO
- Diverse Investment Channels: Although SpaceX is not yet public, investors can access the company through SoFi's Cosmos Fund, a private equity fund exclusively for accredited investors, indicating strong market interest in SpaceX.
- Significant ETF Investment: Cathie Wood's Ark Venture Fund currently holds a 17% stake in SpaceX, while the ERShares Private-Public Crossover ETF has an even higher allocation of 27%, reflecting the funds' commitment to the company.
- Investment Management Company Involvement: Destiny Tech 100 identifies SpaceX as its largest position, accounting for 16.2% of its portfolio, further demonstrating market confidence and growth expectations for the company.
- Indirect Investment Opportunities: Investors can also gain exposure to SpaceX through companies like Alphabet, which owns over 6% of the firm, and EchoStar, which has a pending deal for shares pending regulatory approval, showcasing strategic positioning towards SpaceX.
See More
