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SpaceX is about to go public in what would be the largest IPO ever recorded, and the ripple effects could hit crypto investors harder than they might expect.
The company plans to list on Nasdaq under the ticker SPCX on June 12, 2026, offering 555.6 million shares at $135 each. That would raise approximately $75 billion and peg SpaceX’s valuation somewhere between $1.77 trillion and $1.8 trillion.
The Musk wealth equation
Elon Musk holds an estimated 43% stake in SpaceX. At the expected valuation, that stake alone would be worth north of $760 billion, potentially pushing his total net worth past the $1 trillion mark.
The IPO isn’t just a payday for Musk, though. Approximately 4,400 SpaceX employees are expected to become millionaires when the shares start trading. Most of those newly minted millionaires are clustered around Starbase, Texas, where SpaceX relocated its headquarters in 2024 after disputes with California over state policies.
A substantial number of SpaceX employees still work in the Los Angeles area. California’s capital gains tax rates are among the highest in the nation, meaning the state is positioned to collect a significant tax windfall from those employees cashing in their shares. The long-term economic activity around Starbase, driven by SpaceX’s ongoing operations, is expected to fuel job growth and boost home sales in the region.
Pre-IPO demand is already extraordinary
Pre-IPO demand is reportedly four times oversubscribed. Retail investors are expected to receive between 20% and 30% of the total share allocation. To put the scale in perspective, a $75 billion capital raise dwarfs any previous IPO. Saudi Aramco’s 2019 debut raised about $25.6 billion and held the record for years.
What this means for crypto investors
When $75 billion worth of investor capital gets mobilized toward a single asset, the money has to come from somewhere. Early indications suggest that a meaningful portion of that capital is rotating out of digital assets, with retail investors redirecting dollars toward SpaceX rather than Bitcoin, Ethereum, or altcoins.
Withdrawals from digital platforms would likely accelerate in the weeks leading up to the June 12 listing as investors liquidate positions to free up capital. Investors sitting on Bitcoin gains have a natural incentive to take some of those profits off the table and redeploy them into SpaceX shares.
For traders, the playbook should involve watching capital flows on major exchanges closely in the weeks before June 12. Significant outflows from crypto platforms into brokerage accounts would be the canary in the coal mine.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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