Investment platform Republic unveiled an industry first: blockchain-based fractional shares of Elon Musk’s private space company SpaceX. For the first time, retail investors—those without institutional backing or venture capital credentials—can gain exposure to one of the most sought-after private companies in the world. Investors won’t have a say in SpaceX’s strategic direction or Musk’s next launchpad move. What they do get is exposure to the company’s valuation growth—a potentially lucrative proposition, especially for those priced out of private equity until now. By putting these fractional shares on-chain, the platform delivers transparency, portability, and lower friction than traditional private equity deals. The move also bypasses many of the compliance headaches associated with traditional investment vehicles. It’s not equity in the classic sense—there are no shareholder meetings or board seats—but it’s a financial stake in the company’s future. That alone marks a major psychological and structural shift in how we define ownership in the digital age. It’s not a free-for-all—there are still guardrails and eligibility filters—but the aperture has widened significantly. More broadly, Republic’s move could set a precedent.