SpaceX IPO Buzz Drives Tokenized Securities Trading to Record $3.86 Billion in June

SpaceX had long been one of the most sought-after assets in private markets. Through its SPCXx token, xStocks connected with Binance Wallet, Bybit and Bitget Wallet in an effort to give retail investors economic exposure to the shares. The IPO therefore became a critical test of whether tokenization could turn on-chain demand into ownership of actual equity, and whether perpetual contracts could price the offering in advance.

SpaceX began trading on June 12, 2026, at $135 a share, raising $75 billion at a valuation exceeding $2 trillion. Subscriptions through xStocks topped $1 billion, including more than $500 million via Binance Wallet, but the money was refunded after intermediaries failed to obtain the shares. Talos Research data from June 15 showed that the SPCX perpetual contract had a volume-weighted average price of $159.89 during the first 30 minutes before the market opened, 6.6% above the opening price.

Elon Musk's SpaceX is built around rocket launches and the Starlink satellite network. If it goes public, investors would gain indirect exposure to Bitcoin price swings alongside the risks of its aerospace operations and capital spending, putting the company's crypto holdings at the center of questions over valuation and financial transparency.

SpaceX originally planned to file confidentially as early as March 2026 and list in June. The latest reports say the IPO is priced at $135 a share and aims to raise $75 billion, with demand nearing four times the offering at $250 billion. The company holds 8,285 Bitcoin, whose market value has fallen to about $545 million as the cryptocurrency's price declined.