SpaceX is set to price its $75 billion IPO at $135 per share on June 11, with shares debuting on the Nasdaq under the ticker SPCX at 9:30 a.m. EDT on June 12.
Key Takeaways:
SpaceX prices its $75B IPO at $135/share on June 11, with Nasdaq trading beginning June 12 at 9:30 a.m. ET.Kraken, Bybit, Coinbase International, and Ondo Finance offer non-U.S. users tokenized or synthetic SpaceX exposure.Jay Ritter’s research shows 90%+ of IPOs trade below their first-day low, making day-one purchases high-risk.SpaceX structured the offering as all-primary, meaning proceeds flow to the company. Elon Musk’s shares are subject to a 366-day lockup.
Retail Allocation Is Real — but Not GuaranteedSpaceX earmarked approximately 30% of the offering for retail investors, an unusually high share for a deal this size. Five brokerages received direct retail allocations.
Fidelity Investments: $2,000 minimum account balance required Robinhood: No minimum SoFi: No minimum, via Active Invest accounts E*TRADE (Morgan Stanley): No minimum reported Charles Schwab: Approximately $100,000 in brokerage assets requiredInvestors who missed the allocation window can buy SPCX on the open market starting June 12 through any U.S. brokerage. That path is available to virtually all retail accounts.
Crypto Platforms Offering SpaceX Exposure“Self-custodial wallets are becoming a serious channel for capital markets access,” Alvin Kan, COO of Bitget Wallet, stated on Wednesday.
Coinbase International: The exchange launched SPCX-PERP, a USDC-settled perpetual futures contract, in early June 2026. It runs 24/7 with no expiry and transitions to a post-IPO perpetual upon listing. Available to eligible non-U.S. traders only.
BitMEX: Offers a USDT-margined perpetual contract on SpaceX (SPCXUSDT). Cash-settled, synthetic, with no equity custody.
Why Day-One Buying Carries RiskThe IPO hype around SpaceX is real. The structural risks are equally real.
Longer-term data is more sobering. Studies by Ritter and co-researchers documented consistent IPO underperformance over three to five years after listing. Separate data shows more than 90% of IPOs eventually trade below their first-day low at some point during the price-discovery period.
Day-one buyers also face limited information, no established trading range, and a supply-demand imbalance driven by post-IPO lockups. At a $1.75 trillion implied valuation, SPCX enters the market with minimal room for error in its fundamentals.
Experienced traders often wait for an initial consolidation pattern before establishing a position. That approach sacrifices some upside but reduces the risk of buying into a short-term peak driven by media coverage rather than earnings.
What to Watch on June 12For tokenized products on Kraken, Bybit, and Ondo, pricing will begin tracking the Nasdaq-listed SPCX once trading opens. Pre-listing premiums or discounts on these instruments can deviate meaningfully from the final offering price.
