Destiny Tech100 Inc (NASDAQ:DXYZ) shares are trading sharply higher on Wednesday as investors pile into space‑related names following reports that SpaceX has confidentially filed for an initial public offering.

Destiny Tech100 stock is charging ahead with explosive momentum. What’s driving DXYZ stock higher?

SpaceX's Confidential IPO Filing

Reports indicate that SpaceX has submitted a draft IPO registration to the U.S. Securities and Exchange Commission, setting the stage for a potential June listing. According to Bloomberg, the offering could value SpaceX at more than $1.75 trillion, which would make it the largest IPO ever.

Major U.S. banks, including Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley, have reportedly secured senior roles on the deal, while Citigroup is also preparing for involvement. International banks such as Royal Bank of Canada, Mizuho Financial ...