NEW YORK, May 8, 2026, 18:04 (EDT)
- Destiny Tech100 jumped 21.33% to finish at $54.60, adding to its strong gains this May. The fund tracks private tech companies.
- Investors piled in, seeking public-market exposure to late-stage private names like SpaceX, OpenAI, Anthropic and others.
- The shares continue to sit well above the fund’s most recent net asset value—a premium that stands out as the key risk.
Shares of Destiny Tech100 Inc. jumped 21.33% to finish at $54.60 in New York on Friday, after reaching as high as $54.98 during the session, as investors chased public access to private tech names. After-hours quotes put the stock at $54.77 as of 5:56 p.m. EDT, according to StockAnalysis data. StockAnalysis
The timing is notable: Destiny Tech100 (DXYZ) now stands out as one of the limited ETF options giving retail traders access to a basket with exposure to buzzy private companies. Shares traded hands roughly 6.70 million times on Friday, after DXYZ advanced 10.27% on Thursday and 6.41% on Wednesday, Investing.com data show. Investing.com
Fueling the frenzy: anticipation around a SpaceX IPO. Reuters said this week the Elon Musk-led company is eyeing a June debut that may put its valuation near $1.75 trillion. The same report mentioned a proposed $55 billion semiconductor plant for Texas. An IPO lets public investors buy shares for the first time. Reuters
Destiny Tech100 operates as a closed-end fund, with shares that trade on an exchange and may swing significantly away from the actual value of its portfolio. According to the company, the fund targets investments in private tech firms backed by venture capital. Its shares, listed under the ticker DXYZ, started trading on the New York Stock Exchange in March 2024. SEC
The fund posted a net asset value of $19.97 per share for the quarter ending Dec. 31, climbing 76% over the previous quarter and up 210% year-on-year. Based on Friday’s closing price, the stock was trading about 173% above that most recent NAV—though private asset values can shift between reporting periods. Business Wire
Destiny Tech100 disclosed in February that it picked up roughly $127 million in fresh portfolio exposure to Anthropic, CHAOS Industries, and Hermeus, following the end of the year. CEO Sohail Prasad described the fund’s mission as one to “unlock access to the world’s most ambitious private companies,” according to the company’s statement. Business Wire
The annual report detailed hefty positions linked to SpaceX and OpenAI as of the close of 2025. Listings included DXYZ SpaceX I LLC valued near $54.5 million, MWAM VC SpaceX-II at roughly $15.9 million, and DXYZ OAI I LLC—connected to OpenAI Global LLC profit participation units—coming in at about $9.0 million. SEC
Competition is heating up. Investors eyeing pre-IPO plays have been drawn to vehicles like Ark Venture Fund and Fundrise’s listed private-tech offerings, despite differences in how they’re built. This year, Reuters quoted ARK’s Cathie Wood, who argued Destiny’s setup and fees saddle investors with “a much higher price point” for the perk of daily liquidity. Reuters
Another wrinkle for market structure: Index firms are now mulling quicker entries for mega-cap IPOs into headline benchmarks. Baird’s Rich Lee flagged to Investopedia that stocks put on the fast track “may not get the time and proper vetting” they’d typically receive. This is especially relevant for SpaceX and Anthropic—if they land in major indexes right away, passive funds could be obliged to buy in. Investopedia
The catch, though, is that premium. Morningstar’s Jack Shannon, in a 2024 note highlighted by Reuters, flagged the risk: “investors would be wise to stay on the sidelines,” he wrote, pointing out that hefty premiums can end up moving money from newcomers to earlier entrants if buying dries up. These closed-end funds aren’t immune to sharp drops when the hype fades—even when the assets themselves are solid. Reuters
Uncertainties aren’t in short supply. According to Reuters on Wednesday, SpaceX’s anticipated IPO would concentrate power in Elon Musk’s hands and dial back certain shareholder protections. Another Reuters piece noted that an investor group has called on the SEC to take a closer look at the company’s disclosures. For holders of DXYZ, that means playing the SpaceX angle isn’t as clear-cut as snapping up a proxy for a buzzworthy debut. Reuters
Destiny Tech100 is running an at-the-market share sale program. In February, an SEC prospectus supplement outlined plans for up to $1 billion in common stock to be offered via Jefferies. That could bring in capital for the fund, but it also means more shares could hit the market if they’re sold.
