Retail Investors Can Now Buy Anthropic! VCX Fund Lists with 2900% Premium in Five Days, Here's How to Buy In

A closed-end fund with a per-share NAV of only about $19, Fundrise Innovation Fund (Ticker: VCX), has seen its stock price surge past $575 within just five days of listing, resulting in a premium of over 2,900%. The reason is that its holdings allow retail investors to indirectly invest in private giants like Anthropic, OpenAI, and SpaceX. However, investors might be buying more of a speculative bubble than actual value.

Opportunities and risks go hand in hand. This article will give you a complete understanding of what VCX is, why it’s soaring, its holdings, and what you must know before jumping in.

What is VCX? Fund Overview

Fundrise Innovation Fund (Ticker: VCX) is a publicly traded closed-end venture capital fund that listed on the New York Stock Exchange (NYSE) on March 19, 2026, issued by the U.S. investment platform Fundrise.

Fundrise Innovation Fund (Ticker: VCX) Basic Info

Fundrise launched VCX to enable ordinary retail investors to hold shares in top private tech companies like Anthropic, OpenAI, and SpaceX, similar to trading stocks, without worrying about accreditation or capital thresholds. This breaks the traditional high-entry barrier of private equity markets for retail investors.

Since its listing, VCX has experienced explosive enthusiasm, with the stock price jumping from an opening price of $31 to over $575 yesterday, a gain of more than 1,700%, with a maximum premium of 2,900%.

(How can retail investors invest in OpenAI? Analyzing indirect pre-IPO positioning)

What Are the Holdings? What Companies Are You Actually Buying?

VCX’s portfolio is highly concentrated in AI and cutting-edge technology sectors, with about 85% of assets in private companies. Here are the top seven holdings as of February 2026.

VCX Holdings Structure

The top three AI holdings (Anthropic, Databricks, and OpenAI) account for nearly 50%. Anthropic is valued at around $380 billion, OpenAI at $760 billion, and SpaceX at an astonishing $1.25 trillion.

What Are the Potential Upside Opportunities?

The main attraction of VCX is early positioning. These AI, defense, and aerospace giants are widely expected to IPO between 2026 and 2027. Once they go public at high valuations, VCX’s holdings will be revalued accordingly, serving as a strong catalyst for boosting the fund’s net asset value (NAV). For long-term investors optimistic about AI trends, this is an almost impossible-to-access opportunity in the past.

(SpaceX may become the largest IPO in history—how can investors get a head start?)

What Risks Should Not Be Ignored?

However, the risks are equally significant. First, there’s the risk of NAV premium collapse—paying $575 for something worth only $18 means a $557 pure premium. Second, there’s the lock-up sell pressure in September. 100,000 early investors with low-cost entries will face a lock-up expiration in September 2026, potentially leading to a wave of sell-offs.

INSIDE founder Shao Shangnong pointed out that in March 2024, a nearly identical closed-end fund, Destiny Tech100 (DXYZ), soared to $99.79 (NAV under $5) within two weeks of listing, then dropped to $17.49 after three weeks—a decline of 82%. Two years later, the stock still hovers around $30, and those who bought at the peak lost over 70%.

Furthermore, if OpenAI or SpaceX actually IPOs as scheduled later this year, retail investors can buy directly on the market. The “exclusive purchasing halo” of VCX will disappear, and the premium could collapse overnight.

How to Buy VCX?

Since VCX is listed on the NYSE, Taiwanese investors only need a brokerage account capable of trading US stocks. You can search for and purchase VCX using its stock ticker, whether through local brokers’ US stock services or overseas brokers like Interactive Brokers, IB, or Firstrade, which allow direct trading on the US stock market.

(This article is not investment advice)

This article, “Retail Investors Can Also Buy Anthropic! VCX Listing Surges 2900% in Five Days—How to Buy,” originally appeared on Chain News ABMedia.