SpaceX may cut Robinhood and SoFi from IPO as E*Trade leads talks
Crypto Briefing
E*Trade is leading talks to manage a significant portion of SpaceX's retail IPO allocation, potentially sidelining Robinhood and SoFi.Summary
Morgan Stanley's E*Trade is reportedly in discussions to lead the distribution of SpaceX's IPO shares to everyday US investors, giving it an edge over competitors like Robinhood and SoFi. SpaceX is considering reserving an unusually large allocation—up to 30%—for retail investors in its anticipated 2026 IPO, which could value the company around $1.75 trillion. Morgan Stanley is expected to leverage its E*Trade platform to keep a substantial part of this retail allocation within its network. This strategy puts Robinhood and SoFi, which have often served as key distribution channels for large IPOs, at risk of being excluded or given only a minor role in the listing.
(Source：Crypto Briefing)