[DigitalToday reporter Hyunwoo Choo (추현우)] Interest in shares of private space companies such as Blue Origin, Sierra Space, Relativity Space, Axiom Space and Stoke Space has grown after SpaceX listed, but barriers for individual investors remain high.

Cryptopolitan, a blockchain media outlet, reported on Sept. 5 that as of 2026, buying these shares requires clearing hurdles such as accredited investor status, high minimum investments and long waiting periods for transactions.

The key point is that SpaceX's listing does not mean shares of other space companies can be bought just as easily in the same way. In the United States, private shares are classified as restricted securities under the Securities Act of 1933. Trading is mainly conducted on secondary market platforms such as Forge Global, Nasdaq Private Market, Hiive and EquityZen. In this market, employees, founders, early investors and venture capital firms directly sell their holdings to accredited investors or institutions.

U.S. individual investors must meet one of the following: net worth of at least $1 million excluding residential real estate; annual income of at least $200,000 for the past 2 years; or one of the Series 7, 65 or 82 qualifications. In the European Union, investors must satisfy 2 of the following: a portfolio of at least 500,000 euros; a record of large-value transactions over the past 4 quarters; or at least 1 year of work experience in the financial sector.

Prices in the private secondary market also differ from those of listed stocks. The figures shown on screen are closer to bids than confirmed market prices. That is because low trading volume makes it hard to form continuous prices and deals are priced through individual negotiation.

Structures also vary by platform. Hiive operates a format close to a real-time order book, and the minimum order is $25,000. Forge handles large, institution-focused trades of $100,000 or more and charges fees of about 2 to 5 percent. EquityZen bundles accredited investor orders into special purpose vehicles and brokers them, with deal sizes of about $5,000 to $10,000. Nasdaq Private Market is better suited to issuer-led liquidity programs.

By company, Blue Origin, founded by Jeff Bezos, remains private as of September 2026. As of July 8, Blue Origin was valued at $130 billion based on its latest $10 billion fundraising, and Forge Global showed bids at about $140 billion. Sierra Space raised $2.29 billion by 2026 and was valued at $8 billion based on a Series C funding round in March. Relativity Space raised a total of $1.6 billion, and as of Aug. 14 the Nasdaq Private Market bid was $6.47 per share. Axiom Space secured $2.2 billion in customer contracts, and its enterprise value was estimated at about $2.5 billion. Stoke Space was valued at $9 billion based on its latest $1 billion fundraising as of Aug. 13, and as of Aug. 14 its indicated price was $50.07 per share.

Closing a deal typically takes 30 to 90 days. Some deals can be delayed up to 300 days depending on whether the company exercises a right of first refusal. A company can block an agreed transaction or buy back its own shares. Sales of employee holdings also require board approval, the liquidity window set by the company and limits on how many times shares can be sold each year.

The cost burden is also significant. Minimum investments range from $2,500 for some retail-style funds to $100,000 or more for large transactions. Performance fees of 10 to 20 percent may apply in addition to transaction fees. There are no dividends, and funds can be tied up for a long period until a listing. Interest has grown after SpaceX listed, but there is no guarantee other private space companies will follow the same listing path.