Exclusive: E*Trade in talks to lead SpaceX IPO share sale to small investors in US, sources say

Group 1 - ETrade, a subsidiary of Morgan Stanley, is in discussions to lead the sale of SpaceX shares to retail investors in its upcoming IPO, potentially sidelining competitors Robinhood and SoFi [1][2][4] - The SpaceX IPO is anticipated to be the largest in history, with significant retail demand expected, as the company may allocate up to 30% of its shares for retail investors [2][9] - Morgan Stanley's strategy involves routing a substantial portion of retail shares through ETrade, reflecting its past approach in similar deals [4][9] Group 2 - Fidelity is also competing for a role in distributing shares for the SpaceX IPO, while Robinhood and SoFi are still negotiating for retail allocation roles [5][8] - The retail investor segment typically accounts for a small percentage of overall orders, often around 5% to 10%, with a focus on larger institutional investors for capital raising [10][11] - E*Trade's potential leadership in the SpaceX IPO would represent a significant win in its competition for market share against other brokerages [6]