Musk denies SpaceX IPO excludes Robinhood and SoFi; retail investors still have opportunities

Gate News reports that Elon Musk recently denied the rumors that SpaceX’s upcoming IPO would exclude Robinhood Markets (HOOD) and SoFi Technologies (SOFI). Previously, Reuters reported that Morgan Stanley’s E*Trade might take the lead in selling SpaceX shares to retail investors in the United States, while Robinhood and SoFi could be unable to participate—raising concerns among retail investors.

Musk clarified that these rumors are false, and retail-friendly platforms have not been excluded from the IPO. Currently, SpaceX plans to reserve about 30% of the IPO for retail investors, far above the usual 5%-10%. The IPO is expected to raise up to $75 billion, with a valuation approaching $1.75 trillion. This means young investors still have the opportunity to participate through platforms like Robinhood.

As of February 2026, Robinhood reported 27.4 million paid users and total assets of $314 billion. Its user base’s average age is around 35, which closely overlaps with the fan base of Tesla and SpaceX. Therefore, Robinhood plays a key role in this IPO. SOFI is also actively seeking participation opportunities and is competing with E*Trade and Fidelity for retail allocations.

Following Reuters’ initial report, Robinhood’s stock, HOOD, briefly fell about 2%. Musk’s clarification indicates that SpaceX’s IPO plan remains on schedule, with a listing expected in June 2026, but whether Robinhood can secure an official distribution channel role has not yet been finalized.

Analysts believe Musk’s statement stabilizes market expectations and also reassures retail investors about participating in what could be the largest IPO in history. If the IPO proceeds smoothly, Robinhood and SoFi may become important channels for retail investors to access SpaceX investments, while simultaneously further strengthening young investors’ participation in IPOs of high-growth technology companies.