CEO Brandon MillmanFounded 2021HQ San Francisco, US
Phantom is a private crypto wallet company focused on making self-custody easier for consumers. It supports Solana and other major blockchains, and has raised funding from investors including Sequoia and Paradigm.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$3B
Series C, Jan 2025, Perplexity
UpMarket Estimate
$3.3B
Based on UpMarket valuation model
How to Invest in Phantom Through UpMarket
Phantom shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Phantom offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
$1.3B+
UpMarket has brokered over $1.3 billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through March 31, 2026. Of the total, approximately $301 million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.
Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Jan 2025
Series C
$3B
Why Investors Are Watching Phantom
Growth Signal
Phantom raised $268M total and reached a $3B valuation
Phantom has raised $268 million across three rounds, including a $150 million Series C in January 2025. Clay reports the company’s current valuation at $3 billion, signaling strong investor backing from Paradigm, a16z crypto, and Sequoia Capital.
Product Milestone
Phantom added Bitski and Blowfish to widen wallet capabilities
Clay says Phantom’s growth trajectory includes strategic acquisitions of Bitski and Blowfish. Those deals suggest product expansion beyond a basic wallet into broader crypto infrastructure and security functionality.
Market Opportunity
Phantom sits in a large wallet market with expanding use cases
Phantom’s funding and acquisition activity indicate it is building for a larger crypto wallet opportunity, not just a consumer app. The company’s backing by major crypto investors and a $3 billion valuation imply room to capture more transaction, trading, and identity flows.
Interested in Phantom stock? Fill out the form above or sign up directly. Subject to availability. Accredited investors only.
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No. As of March 2026, Phantom is a private company and does not trade on any public stock exchange. Accredited investors can access Phantom shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Phantom does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Phantom shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. Phantom shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Phantom builds a self-custodial crypto wallet supporting Solana and other major blockchains and was valued at $3.3B after raising $268M total, with recent funding and growth underscoring its private-market position — accredited investors can access Phantom stock through UpMarket.