Destiny Tech100 jumps after report says top holding SpaceX is lining up blockbuster IPO

Shares of Destiny Tech100 DXYZ.N, a fund that invests in privately-owned technology heavyweights, climb 9.6% to $30.52 premarket

Elon Musk's SpaceX is pursuing an IPO next year, looking to raise more than $25 billion with a valuation over $1 trillion, Reuters reported on Tuesday

As of September 30, SpaceX is DXYZ's largest equity holding and accounts for 23.3% of the fund's economic exposure

DXYZ stock has halved this year, but still trades at a 145% premium to its net asset value on September 30

That stands in contrast to typical closed-end funds, which usually trade at a discount to their NAVs

NAV is the value of a fund's holdings, on a per-share basis, after all its liabilities are stripped out