E*Trade in Talks to Lead SpaceX Retail Share Sale as Robinhood and SoFi May Be Cut Out

E*Trade is in discussions to lead a share sale of SpaceX equity to retail investors, a move that would give individual investors a rare opportunity to buy into Elon Musk's private space and satellite company ahead of any public listing, according to sources cited by Reuters on Monday. Robinhood and SoFi have also pitched for roles in the transaction, but SpaceX is considering excluding them from the process. The company's apparent preference for E*Trade would give the Morgan Stanley-owned brokerage a prominent position in what would be one of the most closely watched stock offerings in recent memory. SpaceX has remained private as its valuation has climbed to approximately $350 billion based on recent secondary market transactions. The company operates two primary businesses: its rocket launch division and Starlink, the global satellite internet service, which has surpassed four million subscribers. Any retail offering would likely take the form of a secondary share sale from existing holders rather than newly issued equity, a structure that allows the company to provide liquidity to employees and early investors without committing to a full IPO timeline. Musk has not committed to taking SpaceX public. The reported discussions reflect growing demand from retail investors for access to top-tier private companies. Robinhood launched its own private equity marketplace in 2024, while secondary trading platforms including Forge Global and Nasdaq Private Market have seen volumes climb as investors seek exposure to late-stage companies. A spokesperson for SpaceX did not respond to requests for comment, according to Reuters.