Craig Stephens | Access IPOs

I spoke with Fundrise CEO @BenMillerise about $VCX this week. The episode drops Saturday morning 9am ET. Tune in where you get your podcasts. @accessipos" target="_blank" rel="nofollow noopener">youtube.com/@accessipos accessipos.com/Spotify

@BenMillerise Teaser $VCX

I spoke with Fundrise CEO @BenMillerise about $VCX this week. The episode drops Saturday morning 9am ET. Tune in where you get your podcasts. @accessipos" target="_blank" rel="nofollow noopener">youtube.com/@accessipos accessipos.com/Spotify

True. Now expected to raise $75B+!! theinformation.com/articles/space…

SpaceX IPO timeline on track for June. Still work to do.

@fundrisefan I don’t think it said.

@AccessIPOs rip couldn't get past the paywall. not selling my $VCX shares to read that article tried to see what type of cancer bc i had stage 2 colorectal. finished chemo almost a yr ago it will haunt me like capt hook's crocodile + clock does it say what cancer he had?

He built the most revenue efficient company in the world.

excited to see @fundrise innovation fund $VCX move into fintech innovation (beyond their own organic fintech)! ceo @BenMillerise & team just invested in @ereborbank, a newly chartered national bank designed from the ground up to serve the tech industry, startups, & likely crypto/defense/AI sectors (backed by heavy hitters like @foundersfund, @a16z, @Lux_Capital, @8VC, & co-founded by american hero @PalmerLuckey) this perfectly aligns with #VCX's mission to give everyday investors access to high-growth private tech plays full announcement: businesswire.com/news/home/2026… bullish on VCX continuing to stack wins in cutting-edge spaces 🤠🚀🌛 .:il #fundrise #EreborBank #Fintech #VentureCapital #Investing

Via FT ft.com/content/3451dc…

Shares purchased before Feb 20th or so, are restricted shares. The shares bought as unrestricted (via email from Fundrise) can be sold, the others should not be able to be sold. There's some confusion with the SoFi-purchased share sales, and I am still not clear on that situation.

@AccessIPOs Listening to your podcast. Made some sells on @sofi Friday morning. Today the cash is not in my account. They placed the sales proceeds in a Type 8. Fund provider and clearing firm working out details on how to handle these sales.

New podcast: All About the $VCX Launch Plus, Kraken IPO freeze, Kalshi raises, and General Matter $RVI $DXYZ youtube.com/watch?v=WQ7zNd…

Rebrand: Drones ➡️ "Flying Robots" Skydio world leader in flying robots, today announced an order exceeding $52 million for over 2,500 X10D drones from the U.S. Army. skydio.com/blog/u-s-army-…

Always behind, but validating the opportunity: techcrunch.com/2026/03/20/jef…

@fundrisefan @ColeThereum I don’t do Reddit. One can only manage so many platforms.

@AccessIPOs @ColeThereum craig, just so you know people are engaging with you: reddit.com/r/FundriseInve…

$VCX up pre-market. Issues with transfer agent may have reduced the pool of tradeable shares yesterday. Hopefully we'll see better liquidity today. It's a trader's game now. Long-term retail beware. Unrestricted holders: Irresponsible to leave a 4-5X gain without some profit taking. Unless you're @fundrisefan he'll never sell.

@Aceybright Not advice, pragmatism.

@AccessIPOs I love your advice going to sell get my principal back at least

Also on Spotify: open.spotify.com/episode/5vLLxr…

X-Energy, a nuclear energy company, has filed for an IPO: $XE sec.gov/Archives/edgar…

Nobody denying super-AI cycle and this being a vehicle. But this is a fund, not a pure Anthropic trade. Price will fall back toward the NAV when 100k+ investors can sell shares. It took from Jan 2023 to Feb 2026 for the NAV to to go from $10 to $19. During that time, Fundrise bought Anthropic starting at a $25 billion valuation, and it's now worth north of $500 billion. 20X gains in Anthropic, $9 $VCX per share gain. If the fund doubles twice from here, NAV only $76. Disagreement makes a market, that's fine. We aren't traders here. If someone bought $10,000 worth a few weeks ago and its now worth $50,000, pragmatic to sell half here and book some profits. Plus, nearly everyone that bought unrestricted shares has a pool of restricted shares held. Once this settles, it may not hit $100 again for another 5-10 years, even if the AI-cycle accelerates.

@AccessIPOs Selling just because you are up 4-5x is bad logic. You have to look at the current demand for the current price and then evaluate if it makes sense to you. Also, this is a super-AI trade, it’s unprecedented, NAV doesn’t matter, demand does. Right now, the money is talking.

@fundrisefan @fundrise @BenMillerise Respect the unwavering conviction.

@AccessIPOs no. the market is correctly pricing in @fundrise ceo @BenMillerise's leadership & vision

@fundmyfund All of the shares purchased before Feb 20th are locked. Only the unrestricted shares sold over the past few weeks are trading, which explains the volatility.

@AccessIPOs Some people are on a 6 month lockup as well

$VCX is trading considerably above its NAV ($18.97) due to small float and Fundrise investors' long-term outlook tilt (and likely, transfer agent issues). Over time, it may trend similarly to the $DXYZ vs. NAV chart. The gap will eventually narrow. Need more shares trading. $RVI still trades below NAV because of a share surplus at the IPO (only sold 12.6 of 40 million available).