Elon Musk's SpaceX will officially begin trading under the ticker "SPCX" on the Nasdaq Global Select Market and Nasdaq Texas on June 12. The company confirmed the pricing of its initial publi
Elon Musk's SpaceX will officially begin trading under the ticker "SPCX" on the Nasdaq Global Select Market and Nasdaq Texas on June 12.
The company confirmed the pricing of its initial public offering (IPO) of 555.6 million shares of its Class A common stock at a public offering price of $135.00 apiece to raise $75 billion.
The offering is expected to officially close on June 15.
Related: Veteran investor says SpaceX, Anthropic IPO frenzy behind Bitcoin selloff
The deal values SpaceX at $1.77 trillion, making it one of the most-valued companies in the world.
The crypto industry is closely watching this IPO due to a surprising element: Bitcoin (BTC).
In its Securities and Exchange Commission (SEC) filing last month, SpaceX disclosed that it held 18,712 Bitcoin on its balance sheet as of Dec. 31, 2025.
Analysts have also been debating the dynamics between the SpaceX IPO and Bitcoin.
Bitwise advisor Jeffrey Park recently argued that investors are moving funds out of Bitcoin to position for these high-profile IPOs.
Grayscale's Head of Research Zach Pandl, however, sees the situation differently. Rather than viewing the IPO as a threat to Bitcoin, Pandl said it could ultimately strengthen Bitcoin's position.
Given that such a highly valued company holds Bitcoin on its balance sheet, its IPO could normalize Bitcoin as a mainstream treasury asset for diversified companies.
Ahead of SpaceX's Nasdaq debut, a mysterious trader opened a short position on a SpaceX-linked contract on Hyperliquid.
Hyperliquid is a decentralized crypto trading exchange built primarily for perpetual futures. While Hyperliquid traders can't be identified by name, their blockchain wallet addresses are public.
This is exactly why they are called "mysterious traders" because though nobody knows their names, their trades can be tracked on-chain.
The SPCX contract tracks the value of 1 share of common stock in SpaceX.
"0xcc3A4101c91bC2A44fbC68BbC0cea027472c6c9A", Source: Hypurrscan As per Lookonchain, a trader created a new wallet called "0xcc3A4101c91bC2A44fbC68BbC0cea027472c6c9A," deposited 4.5 million USDC into Hyperliquid, and set limit orders to short SPCX.
As per the latest Hypurrscan data, the trader has opened a 5-times-leveraged short position on the SPCX contract worth more than $45,000.
SPCX-USDC, Source: HyperliquidOn Hyperliquid, the SPCX-USDC contract was trading at $169.96 at press time.
The contract had a trading volume of $295.9 million and an open interest of $276 million in the last 24 hours.
Related: Elon Musk has blunt one-word response to U.S.-China rivalry
