SpaceX’s $75B IPO is the main event, but Renaissance Capital says the undercard matters too

SpaceX is about to suck all the oxygen out of the IPO market. Renaissance Capital wants investors to remember there’s still air left in the room for everyone else.

In the firm’s latest “IPO Weekly Weigh-in” published June 10, 2026, Director of Investment Strategies Avery Marquez laid out the broader themes shaping the IPO calendar, even as the SpaceX listing threatens to overshadow every other debut this year. The Elon Musk-led space company is projected to raise $75 billion and hit a market capitalization of $1.75 trillion on day one.

The SpaceX gravity well

Renaissance Capital’s analysis suggests that SpaceX’s debut could meaningfully influence how other companies time and price their own listings. A successful mega-IPO tends to boost investor appetite across the board, lifting valuations for subsequent offerings. A rocky one can freeze the pipeline for months.

SpaceX won’t be added to the Renaissance IPO ETF until the Q3 2026 rebalance, per the fund’s index guidelines. That means ETF holders will watch the most anticipated IPO of the decade from the sidelines, at least temporarily.

This delay matters because it creates a lag between SpaceX’s market impact and its actual inclusion in diversified IPO-tracking products. Investors who want exposure on day one will need to buy shares directly rather than relying on passive vehicles to do the work for them.

AI IPOs waiting in the wings

Marquez highlighted a growing pipeline of AI-related IPO candidates, with OpenAI and Anthropic among the names generating the most buzz. Neither company has confirmed a listing date, but their presence on the radar signals that the AI boom is starting to translate from private market hype into public market reality.

What this means for crypto investors

Renaissance Capital’s analysis made zero mention of crypto-related listings or blockchain companies in its IPO outlook.

The practical implication is capital competition. A $75 billion SpaceX raise, followed potentially by multi-billion-dollar AI IPOs, represents a massive gravitational pull on institutional and retail capital alike. Money that might otherwise flow into crypto, DeFi tokens, or blockchain infrastructure plays could get redirected toward these high-profile equity offerings, at least in the near term.

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