Destiny Tech100 Stock Surges as SpaceX Prepares To Trade — Here's What Investors Need to Know - Destiny T

Destiny Tech100 Inc. (NYSE:DXYZ) shares are in focus Friday, as SpaceX prepares to begin trading on Nasdaq today under the ticker SPCX — the moment that has defined DXYZ’s entire bull case for the past several months.

What Is DXYZ?

Destiny Tech100 is a closed-end fund holding stakes in 32 venture-backed private technology companies. Its largest holding is SpaceX at approximately 16.2% of the portfolio, followed by Anthropic, to which it added $100 million in exposure via a special purpose vehicle in February 2026. Other holdings include CHAOS Industries and Hermeus Corp. As of December 31, 2025, the fund reported a NAV of $19.97 per share — up 210% from $6.44 at the end of 2024.

The SpaceX IPO Changes Everything

With SpaceX set to begin trading publicly in a few hours at $135 per share, investors will for the first time be able to own SpaceX directly. That raises the central question for DXYZ: does the fund become more or less relevant once its biggest holding goes public? The bull case is that DXYZ still offers unique exposure to Anthropic and 30 other high-growth private companies that can’t be bought anywhere else. The bear case is that the SpaceX proxy trade — the main reason DXYZ has commanded a massive premium to NAV — is now obsolete.

The Premium Question

DXYZ is currently trading at roughly $40 — a premium of approximately 100% to its last reported NAV of $19.97. As a closed-end fund, there is no automatic mechanism to bring that premium back in line. Short interest sits at approximately 17%, with bears betting the premium compresses now that SpaceX has a public price. Today’s trading will be the first real test of whether that thesis plays out.

Stock Market Today: S&P 500, Dow Futures Gain Ahead Of SpaceX's Debut—Adobe, Lennar, CoreWeave In Focus

(Editor’s note: The future prices of benchmark tracking ETFs, and the headline were updated in the story.) U.S. stock futures rose on Friday, as the Nasdaq 100, S&P 500, and the Dow Jones indices advanced, following Thursday’s higher close.

6 min read

Read this article

Destiny Tech100 Shares Edge Higher

DXYZ Price Action: At the time of publication, Destiny Tech100 shares are trading 3.51% higher at $40.06, according to data from Benzinga Pro.

Image via Shutterstock

DXYZDestiny Tech100 Inc

$29.210.83%

Overview

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.