Posted by fund investing SpaceX and OpenAI Has Increase
The Destiny Tech100 fund, traded on the New York Stock Exchange under the ticker DXYZ, has gained more than nine times its original value in two weeks. This growth has been fueled by strategic investments in visionary technology companies including SpaceX and OpenAI, bringing the fund’s market cap to $825 million.
Since its listing on March 26, the Destiny Tech100 Fund has experienced an increase of 818%, far exceeding its initial trading price of $8.25.
Currently holding shares in 23 companies in its portfolio, including industry giants like Epic Games, the fund is on track to expand its holdings to include a total of 100 companies.
By far the largest position in the fund is Elon Musk’s SpaceX with a 34.6% stake, Business Insider reports.
The fund’s SpaceX stake is worth about $18.4 million as of Dec. 31, according to Destiny’s 2023 annual report.
Other stakes in the company include Epic Games 4%, OpenAI 3.8% and Chime 1.9%.
Some international brokerage platforms may provide access to US-listed stocks and funds, including stocks traded on the New York Stock Exchange.
Indian investors may explore opening an international brokerage account that allows trading in US securities.
These platforms may facilitate the purchase of shares in the Destiny Tech100 Fund.