SpaceX will be one of the most sought-after initial public offerings (IPOs) in Wall Street’s history.
However, with a valuation expected at close to $2 trillion, retail investors may struggle to buy in early enough to capture meaningful upside
That makes EchoStar (NASDAQ: SATS) an unusual way to get exposure to SpaceX before the rocket and satellite company starts selling stock. EchoStar agreed to sell 65 megahertz of wireless spectrum to SpaceX, providing support for SpaceX’s Starlink to offer direct-to-device service (connecting regular phones directly to satellites). The deal was first valued at about $17 billion, but amended terms could lift the total to about $20 billion, including up to $11 billion in SpaceX stock valued at $212 per share.
In May 2026, the FCC approved EchoStar’s broader $40 billion spectrum sale to SpaceX and AT&T. These regulatory approvals have brought EchoStar closer to receiving cash and SpaceX stock. EchoStar’s SpaceX stake is changing the story EchoStar is not a clean alternative to SpaceX.