Republic plans to tokenize shares of private companies like SpaceX and OpenAI: WSJ
Investment platform Republic plans to offer digital assets tracking the performance of Elon Musk's space-faring firm SpaceX as part of an effort to expand retail investor accessibility to private companies, the Wall Street Journal reported on Wednesday. Republic plans to acquire SpaceX shares and issue a blockchain-based equivalent that tracks those holdings, according to the WSJ. The investment platform also intends to launch digital tokens tracking the performance of private artificial intelligence firms OpenAI and Anthropic in addition to SpaceX.Moving traditional equities markets onchain has been a longtime ambition for the crypto industry, which has largely been held back by regulatory uncertainty. Holders of Republic's tokens will not have direct access to these private shares and will not be considered shareholders, but the blockchain-based assets will offer retail traders exposure to otherwise inaccessible investment opportunities.Republic said it can issue these tokens due to provisions in the 2012 Jumpstart Our Business Startups (JOBS) Act, which lets firms based in the United States raise up to $5 million per year from retail investors by issuing securities, according to WSJ sources.Holders will be able to buy anywhere between $50 to $5,000 worth of these digital assets, much lower than the $10,000 or $100,000 minimum typically required to invest in a private company. Individuals who hold company-tracking tokens for a year will also be able to swap them on the crypto trading platform INX. In April, Republic agreed to acquire parent firm INX Digital for up to $60 million to beef up its real-world asset, security token, and other crypto investment services, The Block previously reported. It's unclear whether SpaceX will contest the tokenization of its shares. However, the space firm embraced cryptocurrency in the past. In 2021, Elon Musk said SpaceX acquired bitcoin, making it one of the earliest firms to add crypto to its balance sheet. As of June 25, SpaceX holds 8,285 BTC valued at about $894.46 million, according to Arkham.The Block reached out to Republic for confirmation and comment. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.