First-Ever SpaceX Shares Now Available Through Blockchain

Comments (4)

tocs3 · 6h ago

I have not had time to read the article yet, but does anyone have an informed opinion about this? There was a time that I would have jumped (at least in a small way) but much of what is going on in the world makes me generally more skeptical. Is anyone lining up to buy this?

Edit /Adding.

Another article from coindesk. https://www.coindesk.com/business/2025/06/25/tokenized-share...

That also says:

Permission from SpaceX or other firms isn’t necessary as the tokens represent securities sold by Republic itself, said Republic CEO Kendrick Nguyen.

NoahZuniga · 3h ago

Well, they aren't shares. You're buying essentially a promise from Republic that they will pay you back what the shares are worth when any liquidity event happens (ie an IPO, or a new round of funding). You have a risk that Republic doesn't have enough money to cover this value (because they don't promise to actually have those shares).

msgodel · 3h ago

So it's a purchase agreement (ie a forward/future.) It's not that weird, people trade equity futures all the time.

Not that I'm defending them, doing that with a company that hasn't IPO'd yet is kind of insane although maybe they're hedging with DXYZ or some kind of private equity.

NoahZuniga · 3h ago

Yes but potentially naked. Most likely they are selling the risk to institutional investors. See also: https://www.bloomberg.com/opinion/newsletters/2025-06-26/any...

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First-Ever SpaceX Shares Now Available Through Blockchain

Comments (4)