How pre-IPO exposure actually works

Most people who want to "own SpaceX before the IPO" quickly discover there is no single way to do it. Instead there is a patchwork of synthetic and indirect instruments, each with its own price, its own risks, and its own implied valuation. IPO Tracker exists to regroup all of them under one entity so you can compare at a glance.

The four kinds of exposure

• HIP-3 pre-IPO perpetuals — leveraged perpetual futures on Hyperliquid that reference an implied valuation of a private company. Tradeable in-app here, with a builder fee that funds the project.
• Tokenized pre-IPO equity — e.g. Jupiter PreStocks on Solana, a token that tracks a claim on pre-IPO shares. Read-only here, with a link out to trade.
• Official IPOs — the real event, once a company files and prices. We aggregate the calendar from primary feeds rather than relying on one provider.
• Broker access — eToro, Robinhood and others occasionally offer pre-IPO or newly-listed access. We surface the highest-priority referral for your region.

Why implied valuations differ

A HIP-3 perp and a PreStocks token can imply very different valuations for the same company. That gap is information: it reflects liquidity, leverage, funding rates, and how each market sources its price. Seeing them side by side is the whole point.

Aggregated data, not investment advice. Pre-IPO instruments are high-risk and often illiquid.

Open any company to see every source it trades on, switch between them, and compare the charts.