Key facts
- SpaceX is launching an initial public offering (IPO) on Friday.
- The IPO aims to raise at least $75 billion.
- SpaceX is expected to be valued at approximately $1.75 trillion.
- Shares will be traded on the Nasdaq market.
- Crypto platforms are providing alternative access for international retail investors to speculate on the IPO.
- SpaceX reported $18.6 billion in revenue and a net loss of $4.9 billion in the past year.
- Elon Musk will retain over 80% of the company's voting power post-IPO.
SpaceX is set to launch its initial public offering (IPO) on Friday, aiming to raise at least $75 billion and valuing the company at $1.75 trillion. The IPO will offer shares on the Nasdaq market, with a significant portion available to individual investors through various platforms and brokers. Crypto platforms are broadening access for international retail investors to speculate on the IPO through prediction markets, perpetual futures, and synthetic assets, bypassing traditional Wall Street channels.
These alternative avenues, while offering broader access, often do not provide dividends, voting rights, or a direct claim on SpaceX assets, and many are not available in the U.S. due to regulatory considerations. Products like those on Polymarket allow users to wager on SpaceX's closing market cap, with projections ranging from $2 trillion to $2.5 trillion. Kraken parent Payward is offering tokens backed by SpaceX shares at a fixed price of $135 per share, available in over 100 countries. Coinbase International has launched a pre-IPO perpetual futures contract, and decentralized exchanges like Hyperliquid offer continuous trading of SpaceX derivatives.
SpaceX disclosed in an amended IPO filing that it may issue significant equity in connection with future transactions, signaling potential future share dilution for investors. The company reported $18.6 billion in revenue but a net loss of $4.9 billion in the past year. Elon Musk is expected to retain over 80% of the company's voting power following the share sale, maintaining significant control.