SpaceX Eyes June IPO, Discloses Holdings of More Than 8,000 Bitcoin

Space exploration company SpaceX, owned by Tesla CEO Elon Musk, and electric-vehicle leader Tesla together control more than 30,000 Bitcoin worth as much as $1.16 billion. The two companies’ holdings are viewed as a barometer of institutional confidence in the cryptocurrency market, so any transfers from their blockchain wallets draw intense attention and discussion across global crypto markets.

According to the latest monitoring by blockchain analytics platform Arkham in July 2026, SpaceX conducted its first test transfer from its Bitcoin wallet after more than six months of inactivity. Analysts said the $1.16 billion asset transfer merely moved funds between the company’s internal addresses and a Coinbase Prime custody account, rather than sending them to an exchange for sale. The market therefore did not interpret the move as a selling signal.

Tokenized securities map ownership rights in traditional assets such as stocks onto a blockchain for trading and are a key application of real-world asset tokenization. Market anticipation surrounding a SpaceX IPO prompted investors to seek early exposure through tokenized equities, underscoring how major listing events can quickly amplify demand in on-chain markets.

In June, enthusiasm over a SpaceX IPO drove tokenized securities trading volume to a record $3.86 billion, up 145% from the previous month. Over the same period, the total stablecoin market capitalization fell to $312 billion, marking its largest monthly decline since the collapse of TerraUSD and signaling a shift in capital toward specific RWA themes.

SpaceX shares plunged after the company went public, wiping more than $600 billion from its market value and undermining investor confidence in technology stocks and other high-risk assets. Because bitcoin often moves in tandem with growth stocks and speculative assets, the selloff has also put a key area of support in the cryptocurrency market to the test.

The latest market data show bitcoin has fallen more than 8% from its June high and is now approaching the key threshold of $60,000 per coin. The market is watching whether BTC can hold that level. A decisive break below it could trigger stop-loss orders and liquidations of leveraged positions, further amplifying the short-term decline.

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.

SpaceX was originally centered on rocket launches and its Starlink satellite network, but added its AI ambitions to its growth narrative after going public. Its market capitalization quickly surpassed $2.5 trillion, compared with bitcoin’s overall market value of about $1.3 trillion, reflecting competition between technology stocks and crypto assets for risk-seeking capital.

According to the latest reports as of July 20, 2026, a sharp rise in SpaceX shares lifted its market capitalization to $2.6 trillion, about $100 billion above the $2.5 trillion milestone and nearly twice bitcoin’s total market value. Analysts said the rally was driven by enthusiasm over the company’s AI business and was crowding out incremental capital that might otherwise flow into the cryptocurrency market.

SpaceX built its lofty valuation through rocket launches, the Starlink satellite network and US aerospace contracts, and holds about $1.3 billion in bitcoin. Its Nasdaq listing gives investors their first opportunity to invest directly in Elon Musk’s space business. The scale of the offering could also reshape capital allocation across technology stocks and the space industry.

SpaceX began trading under the ticker SPCX on July 12 at a valuation of about $1.77 trillion, setting a global IPO record. Its average premarket price was about $174, and the shares surged 20% on their first day, briefly pushing its market capitalization above $2 trillion. Investors are now watching for the launch of options trading, potential fast-track admission to the Nasdaq-100, the company’s first earnings report and the expiration of its lock-up period.

SpaceX has yet to go public, and access to its private shares has historically been largely limited to institutions and high-net-worth investors. Bybit partnered with xStocks to launch IPO Express, with SpaceX as its first offering. Issued by Backed Assets and purportedly backed 1:1 by physical shares, the tokenized certificates were designed to let retail investors preorder them using USDC.

Bybit had planned to open subscriptions for the SpaceX offering on June 11, allowing investors to subscribe with USDC. The offering ultimately failed because xStocks did not deliver the relevant tokens. Bybit said it would refund subscription funds in full and provide compensation at a 10% annual percentage rate (APR), highlighting settlement risks and the risk that suppliers may fail to perform in tokenized IPO offerings.

Tesla is a major global electric-vehicle and energy-storage company, while SpaceX has capabilities spanning rockets, satellite networks and space-based data processing. Elon Musk is considering combining the two companies, with a focus on linking power infrastructure and AI computing resources. If the new entity holds more than 30,000 bitcoin, its exposure to corporate crypto-asset allocation and governance risks would also increase.

As of July 20, 2026, reports said Musk was discussing a merger between Tesla and SpaceX, but no formal agreement, transaction value or completion date had been announced. The combined company would hold more than 30,000 bitcoin, making it the world’s fifth-largest corporate holder, according to estimates. SpaceX also plans to list on Nasdaq following its merger with xAI.

SpaceX, founded by Elon Musk in 2002, has expanded the space market through reusable rockets and Starlink. Bitget’s IPO Prime brings exposure to private investments onchain, lowering the barrier for retail investors. However, preSPAX is not SpaceX stock. It is a tokenized debt instrument issued by Republic and linked to SpaceX’s post-listing returns, with no involvement from SpaceX in the issuance.

Bitget launched IPO Prime on April 14, 2026. Subscriptions for preSPAX run from April 18 to 21 UTC, with trading beginning on April 21. The initial offering comprises 94,000 tokens priced at $650 each, for a total value of $61.1 million, based on a $1.5 trillion valuation for SpaceX. The minimum individual investment is $100, while the platform’s commitment is capped at $1 billion.