Tokenized pre-IPO stocks grew from $4.1 million to $65.8 million in capitalization since the start of 2026, a 16-fold increase. The sector also gained 29.6% in Q3.
Why it matters
The growth is concentrated: OpenAI and SpaceX account for 84.4% of sector capitalization. OpenAI alone contributed nearly 89% of net growth in Q3, making the sector’s expansion closely tied to demand for exposure to a handful of high-profile private companies.
Market impact
The figures point to rapid growth in tokenized exposure to pre-IPO companies, but also a narrow base. OpenAI’s outsized contribution means changes in demand for that name could have a substantial effect on overall sector growth.
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Frequently asked questions
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How much did tokenized pre-IPO stock capitalization grow in 2026?
It rose from $4.1 million to $65.8 million since the start of 2026, a 16-fold increase.
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How much did the sector gain in Q3?
Tokenized pre-IPO stocks gained 29.6% in Q3.
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What share of the sector’s capitalization do OpenAI and SpaceX represent?
OpenAI and SpaceX together account for 84.4% of sector capitalization.
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How much of Q3 net growth came from OpenAI?
OpenAI accounted for nearly 89% of the sector’s net growth in Q3.
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Why is the sector’s growth considered concentrated?
OpenAI and SpaceX account for most of its capitalization, and OpenAI alone contributed nearly 89% of Q3 net growth.
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