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In a market where people are desperate for direct AI exposure beyond just buying NVDA or MSFT, VCX is one of the only ways for a retail investor to own the actual model builders. We saw DXYZ trade at a massive premium for exactly this reason; the demand for private tech usually far outstrips the supply of shares available to the public. Plus, with their 1-year return sitting at over 60%, the momentum is already there. If you missed the private entry window, paying a small premium tomorrow might still be the 'cheaper' move compared to waiting for these companies to IPO at 10x their current valuations.
Anyone tracking the VCX (Fundrise Innovation Fund) listing on the NYSE this Monday/Tuesday (Mar 9/10)? It’s a rare liquid entry into private tech that usually requires accreditation. Portfolio is solid: Anthropic (21%), Databricks (18%), OpenAI (10%), Anduril (7%), and SpaceX (5%). The Setup: Current NAV is $18.98. With existing investors on a 6-month lockup, the initial float will be very tight. We’ve seen similar listings (like DXYZ) trade at a massive premium to their underlying assets due to the demand for SpaceX/OpenAI exposure. The Fees: Total expense ratio is capped at 3.00%. High for an ETF, but it has no carried interest (profit sharing), which is a major structural advantage over traditional VC funds. Planning to watch the opening cross for a starter position, or waiting for the Day 1 price discovery to settle?
Jed, I would like to ask you for your opinion I’m invested in DXYZ particularly because of SpaceX would it be smart to sell out of destiny and go into stats
Yes, I do have to say I was running on some misinformation and without a doubt you have more of an understanding of this than I do I’m new to this. I have absorbed a lot of information over the past seven months and yet still not enough. It’s always good to get a good response and from you, I did I was enticed by the share price for DXYZ but seemingly echo star has a higher stake yet my 40 shares I have in DXYZ will certainly be reduced with echo star but I would imagine there’s a higher gain
It's definitely interesting to see more structures like this popping up for retail, reminds me a bit of how fundrise started opening up real estate to smaller investors. The NAV discount is always the big question mark with CEFs, but the DXYZ comparison is a good point for high demand assets.
The premium risk on publicly listed SPV wrappers is what will eat your return whether you buy PWRL or DXYZ. DXYZ historically traded at 3-5x NAV, peaked above $100, and anyone who bought near that peak is down 90%+ while SpaceX's private valuation roughly held. PWRL will face the same dynamic when retail FOMO pushes it above NAV post-listing, and that spread is the real fee on top of the 2.5%. If you want Anthropic exposure without that structure risk, MSFT ($13B invested) and GOOG ($3B) already carry it at known multiples with audited financials you can actually read. For SpaceX, Kanolie's point about the $8B "profit" being EBITDA before rocket hardware depreciation is the right question, and SpaceX has never had to answer it publicly because they don't file with the SEC.
You can invest in DXYZ which is a fund that has a stake in Space X.
Isn't the DXYZ premium several hundred percent?
DXYZ gives you exposure to SpaceX and other private equities. Holds about 16-17% spaceX in it's portfolio.
Guess the vote went through, still on for March. Looked more into that NAV thing and found out DXYZ trades like 200% above book just for SpaceX. Kinda changes how I think about the discount risk. Fee bump happened but at least they're not sitting on cash anymore. Threw a little in. Curious if this actually works out.
Vote passed, listing still on for March. Looked more into that NAV discount thing and apparently some funds trade at premiums (DXYZ trading way above NAV for SpaceX). Made me feel better about it. Fee bump happened but they dropped the cash reserve so whatever. Put a little in. Guess we'll see.
DXYZ does not own 52% of SpaceX
didn't know DXYZ hit that kind of premium, that's helpful context. makes their projection seem less crazy but also shows the downside risk
Longtime Fundrise investor here, and I've been buying into the Innovation Fund since the outset about 2-3 years ago (the Innovation Fund is what is being proposed to move public under the VCX ticker). Happy to answer any questions that I can, but I do believe this is an extremely worthwhile investment vehicle for people to consider. In order to get this kind of early equity in the best private companies in the world, you either need to be an early employee or a VC investor, which has its own financial and access burdens of course. VCX, I believe, is set to pioneer a previously non-existent investment vehicle for public consumption, on the same level as eREITs and Index Funds. DXYZ is often mentioned as the "same" but they are not the same type of product.
"These closed-end funds usually trade at a discount. " DXYZ (closed end fund that's a mix of public and private) traded at an absolutely ridiculous premium to NAV for a while (I think it was like 600% at one point?) and then cratered and now trades at a merely absurd (around 150%) one.
so this is fundrise's innovation fund going public fyi. everyone keeps comparing it to DXYZ but that was a fixed supply meme, totally different. from what I've seen fundrise hasn't locked down share issuance post-listing so they can basically dilute any premium whenever they feel like it. and they don't have to buy back at a discount either so... cool asymmetry lol. check the S-1 on the issuance thing bc that's kind of the whole ballgame here. the fee bump to 2.5% makes more sense once you see they're deploying the cash buffer they held for redemptions, more exposure less cushion basically. I'd probably just buy through fundrise pre-listing tbh, you still get NAV pricing and there's one last redemption window if it goes sideways
All in on DXYZ. That SpaceXAI ipo is going to make me a rich little fucker
"One company is SpaceX with a 34.6% exposure. " SATS is heavily SpaceX. As others have noted, DXYZ trades at a substantial premium although the current high premium is somewhat better than the absolutely absurd premium this traded at for a while. There was a huge decline in this last year and it's still trading at a meaningful premium to NAV.
What about Destiny Tech100 (DXYZ)?
DXYZ is a fraud stay away unless you hate money
lmao HOOD now shows the NAV on app for closed end etfs like DXYZ get fucked
PSA: You can get SpaceX exposure before the IPO. Don’t have to wait for the IPO. You can already get indirect, pre-IPO exposure through publicly traded stocks/funds that have already entered into ownership stakes within SpaceX. • $DXYZ (Destiny Tech100 – closed-end fund) Holds private tech unicorns. SpaceX has historically been one of its largest positions (often cited in the 20%+ range, depending on reporting). Trades at a premium/discount to NAV, so it’s volatile — but very real exposure. • $XOVR (ERShares Private-Public Crossover ETF) One of the cleanest ways to get SpaceX exposure in an ETF. Roughly ~9–11% of the fund has been allocated to SpaceX private shares via SPVs. Daily liquidity, no CEF premium risk. • $SATS (EchoStar) EchoStar entered a spectrum-for-equity deal with SpaceX that results in EchoStar owning billions of dollars worth of SpaceX stock. This makes SATS a legit public-company proxy with SpaceX equity on its balance sheet. • $GOOGL (Alphabet) Google invested in SpaceX years ago and still owns a small but real stake (~8% at the time of investment). It’s not a SpaceX play, but SpaceX upside is embedded.
DXYZ 23.3% of their portfolio is SpaceX. It's going to moon.
IF you invest in SATS or DXYZ you are literally paying a much higher price for the same spaceX shares you get in the baron partners fund
I'd MUCH rather buy SATS as a SpaceX play than DXYZ still trading significantly above NAV.
There is massive open interest in it already via family offices and DXYZ. It will exceed TSLA in market cap.
I saw a YouTube video on the subject. DXYZ has largest exposure, but it's only like 10% of DXYZ holdings.
Thought DXYZ might be a good way to gain SpaceX exposure prior to the supposed ipo next year. Asked AI and it said the etf is hyped now and will dump after ipo. So, uhhh, maybe I'll just stay tf away from it since every ipo I've tried to play gapes my 🍩
Lots of people talking about waiting for the IPO to invest: DXYZ is \~23% SpaceX. Also check out Micrventures, likely more expensive per SpaceX share in initial cost and fees, but you're not having to invest in other stuff.
Not sure about SATS but DXYZ no fucking way. That trades way out of nav. BPTRX is a pure play Tesla and SpaceX bet. SpaceX position must be over 30% by now since the valuation went to 800 billion reportably
SATS and DXYZ are more pure spaceX plays.
Doing the same with DXYZ. Shiz gonna double my portfolio by next week.
DXYZ - legit way to get in, 32% invested by this fund in Space X, with some in open AI etc
DXYZ (Destiny Tech100 fund) has 23.3% of holdings in SpaceX. Has shares of other privately held companies, too.
Alphabet holds about a 7 percent stake in SpaceX and Bank of America owns around 1 percent. Retail investors cannot buy SpaceX shares directly but can get indirect exposure through Alphabet or Bank of America, or by investing in public funds like Destiny Tech100 (DXYZ) or the ARK Venture Fund, which hold sizable SpaceX allocations such as roughly 38 percent in DXYZ.
you can buy $DXYZ they own 25% spacex
$DXYZ lotto tickets on sale - space x to IPO 1.5T eval. 2026
I wonder how this might affect DXYZ. I remember reading they have a money in spaceX in some capacity. Woefully under-informed on that though. Maybe a Regard here can shine some light on that?
I've watched XOVR and DXYZ for a while now (both hold private SpaceX stock) and I'm convinced that due to low volume, high NAV, and insider holdings it's just not worth pursuing.
google IS the largest shareholder behind elon musk in spacex. I dont know what else you want. If you are so into spacex you should have known it. All the other listed companies have literal pennies, the most hyped one is DXYZ whos 38% is in spacex, but that 38% is only 0.007% of spacex VS google's 10% (google owns 10% of spacex, not 10% of google's investment portfolio is in spacex). So what do you mean by 'cheaper'?
I bought info DXYZ earlier this year and it’s one of my only losers lol
Based on the current price relative to the underlying assets, ARKVX offers significantly better value than DXYZ. ARKVX’s price is closely aligned with its NAV (near 0% premium/discount), ensuring investors pay a fair price for the portfolio’s assets. In contrast, DXYZ’s \~271% premium to NAV indicates severe overvaluation, meaning investors are paying far more than the underlying assets are worth, increasing the risk of losses if the premium narrows.
Based on the current price relative to the underlying assets, ARKVX offers significantly better value than DXYZ. ARKVX’s price is closely aligned with its NAV (near 0% premium/discount), ensuring investors pay a fair price for the portfolio’s assets. In contrast, DXYZ’s \~271% premium to NAV indicates severe overvaluation, meaning investors are paying far more than the underlying assets are worth, increasing the risk of losses if the premium narrows.
There’s an ETF you can buy that gives heavy exposure to it and there’s DXYZ
You can buy shares indirectly by buying DXYZ, they hold private shares.
52% of DXYZ is in SpaceX. That’s about the closest you can get
it's not a spac. It's a secondaries fund / closed-end fund. DXYZ would be another example of a secondaries fund IPO but they had things like spacex / openai etc. and already had shares, it seems from what I can tell CFND doesn't own anything yet and intends to spend the ipo money on that.
Scottish Mortgage is an aggressive growth investment trust in the UK that has had a significant amount of its portfolio in private companies over the years. It's exciting when it's 2020/21, it's not so great when it's 2022 - and that fund is still not back to where it was at the 2021 peak. They also lost recently with their private investment in Northvolt, which was a 0. DXYZ is a CEF that is invested in private companies that is trading at about a 500% premium over NAV. A recession happens and lets say that premium goes from 500% to 200% or even closer to 0% - could easily happen. Some of the things out there are also interval funds, where you can only redeem quarterly (and there's only a limited amount of redemptions per quarter, if you aren't ahead in the line, you might have to wait until next quarter.) Interval funds can often gate redemptions entirely, too. This sort of stuff works well when everything is awesome with the markets, but if there's another 2022 (or to a lesser degree, even an early 2025) this kind of thing is getting obliterated.
DXYZ has done this for a while now.
this isnt illegal. Startengine does the exact same thing, they have shares in private companies like OpenAI and SpaceX and sell shares in the fund that owns those shares it’s not much different from owning an ETF like DXYZ (which owns predominantly SpaceX and trades way above NAV due to retail interest) since robinhood actually owns the private shares
DXYZ has been doing this for awhile. They absolutely do hold private company stock.
Interesting. In US here, so buying $DXYZ to get early exposure. It goes pretty parabolic.
DXYZ getting burned on SpaceX holding
Yeah but you get more SpaceX with them per dollar than $DXYZ. For every $10 in DXYZ you get $0.96 worth of SpaceX For every $10 in $XOVR you get $1.1 worth of SpaceX
Brother. I’m not miscalculating the growth of anything. I’m just saying you may as well buy $XOVR because you get MORE SpaceX for your dollar than $DXYZ.
> DXYZ Lmao no way I'm touching something with a ticker like that
$DXYZ. Not many people know about this stock. Over $100 🎯
The bear case as I see it *Canada and Europe curtail travel to US. Partly Donald’s bullying and partly the behaviour of ICE. Tourism is a big industry with lots of trickle down spend * Biden spent a fk load of deficit money on the economy. Not sustainable and doge is cutting this with a hit to jobs * tariffs make consumer goods more expensive, a hit to auto dealers etc * high valuation of spx. With a govt that is clearly corrupt. Other countries with high corruption have lowly valued stock markets *high retail participation in stocks and speculation has been high. Best example DXYZ. See where the stock price is vs NAV is
[$DXYZ 🚀🚀🍌](https://www.northjersey.com/story/news/2025/03/12/nasa-starliner-astronauts-stuck-in-space-spacex-mission-postponed-barry-wilmore-sunita-williams/82342061007/)
DXYZ claims to have forward agreements to purchase shares of Stripe and Plaid. Both of those companies, however, have disputed those agreements and said they would not allow the transactions to happen. At the very least, the companies could enforce their right of first refusal and step in and buy the shares, depriving the fund of ever holding them. For fundholders of Destiny Tech100, that means they paid for shares the fund never actually owned. So what are we actually buying here?
DXYZ had a minor dump (from a -10% day) after the SpaceX fail
Communication plays for me. DXYZ is a sleeper about to not sleeping no more.
You can invest in them via DXYZ too
I'm buying MNSO, BBAI, DXYZ, TTD as we speak. Going bananas soon 🍌🍌🍌
Dominari ----- *Donald Trump Jr. and Eric Trump Join Dominari Holdings Inc.'s Advisory Board* ----- *$DOMH is the new $DXYZ. Possibly more. Why? Exposure to Andruil, XAI and relationship with the Trumps. This is an obvious no brainer to 15-20-40.* --- *Just found out where a big chunk of the Project Stargate slush funds will be going.*
Dominari ----- *Donald Trump Jr. and Eric Trump Join Dominari Holdings Inc.'s Advisory Board* ----- *$DOMH is the new $DXYZ. Possibly more. Why? Exposure to Andruil, XAI and relationship with the Trumps. This is an obvious no brainer to 15-20-40.* --- *Just found out where a big chunk of the Project Stargate slush funds will be going.*
Just FOMO 100k on $DXYZ
90% index funds, 10% TEM, DXYZ & maybe some other dumb shit
True. GOOG and DXYZ actually hold SpaceX shares.
I think $XOVR is even better than $DXYZ because it does not have ridiculous premiums and the fees are much lower at 0.75% compared to 2.5% for DXYZ and \~5% of ARKVX.
Very well said. A much better alternative is $XOVR which also has SpaceX, also has the daily liquidity factor, but is marked-to-market so there are no ridiculous premiums like DXYZ.
There are a few options that I have found: $XOVR $DXYZ $ARKVX To me, the best option is XOVR because of a few reasons: \- First, it has the lowest fees out of the three options (0.75% vs DXYZ's 2.50% vs ARKVX 5%) \- Second, it has daily liquidity while being marked-to-market. DXYZ is not market to market so investors are currently paying 10X compared to what the assets are actually worth. ARKV is marked-to-market, but it does not offer investors daily liquidity as it is a closed-end interval fund. This means that investors can only liquidate once very quarter and up to only 5% of the assets in the fund. This means it is a very illiquid investment. \- Third, is where the rest of the fund is invested in. The other two options are mostly all private equity. In the case of DXYZ, they bought into their positions during the peak of the valuation time period with very high multiples, meaning they are carrying losses that will be hard to recover. XOVR, on the other hand, has the rest of their assets invested on the ER30TR index, which is from the same firm as the ETF (EntrepreneurShares). The index fund has a 20 year track record with good results.
So is XOVR the better deal or DXYZ?
pretty much like most have commented. $DXYZ i made good profits when it first dropped.
There’s no way for you to acquire legitimate shares unless you get a job there and are awarded RSUs or ISOs. The companies like EquityZen don’t sell you shares, they sell you an interest in the shares they own. Sketchy at best, imo, and you pay a significant premium to do so. There are ETFs like Ark Innovation and DXYZ, but they also hold a bunch of other stuff also. Even if you found an early employee and convinced them to sell to you, SpaceX has a right of first refusal and will preempt the sale.
$DXYZ is about 40% SpaceX
OKLO is DXYZ in disguise
Why is DXYZ up 7x in less than 2 months? Wasn't everyone saying that it's a scam?
$LUNR has another launch sometime in 2025. It’s been quiet the past couple weeks but space stocks aren’t done. Keenan eye on when LUNR is supposed to launch and buy a couple months before it does. Long calls on $APLD that one’s going to keep growing I think I’m picking up as many shares as I can in DXYZ because when SpaxeX goes public DXYZ is going to the moon because I’ve read that a high % of their holding is SpaceX shares If you feel like gambling, $KULR is one that has a lot o of hype but I’m not sure if I believe in the company yet Lastly, I believe in nuclear power. I already sold most of my positions in nuclear but there’s one fact that’s true, humans will always need more and more energy. But nuclear is a long play. Hope that helps! Hope you get rich and live a happy life!
Will $DXYZ hit my $300🎯 ? 🍌🍑💹
If you guys want two ETF’s that have stakes in SpaceX take a look at XOVR and DXYZ
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