MSX Opens Pre-IPO Phase 3 for Neuralink and Anduril

MSX's third pre-IPO phase marks a further blurring of the line between private and public markets, letting a broader set of participants take exposure to two of the most closely watched private companies. The significance lies less in the specific names than in the structure: platforms are increasingly packaging late-stage private equity as an accessible product. The open question is whether this access model widens participation or concentrates it among those already positioned for pre-listing upside, and how secondary-market pricing holds up if listing timelines slip.