The hot Fundrise VCX fund falls 45% as IPO mania subsides and investors get a crash course in risk

The hot Fundrise VCX fund falls 45% as IPO mania subsides and investors get a crash course in riskListen(3 min)Listen(3 min)Shares of a hot fund that promises retail investors access to private technology companies such as Anthropic, OpenAI and SpaceX are now coming back down to earth — underscoring the risks of piggybacking on market hype.When the Fundrise Innovation Fund VCX debuted on the New York Stock Exchange on March 19, investors rushed at the chance to own a basket of hot artificial-intelligence startups. In the ensuing days, shares of the VCX soared 1,840% en route to an intraday peak of $575 on Wednesday.About the AuthorChristine Ji is a reporter covering Big Tech.A Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.