SpaceX is about to pull off what might be the most oversubscribed IPO in modern history. The company has attracted over $250 billion in investor demand against a target raise of $75 billion, an oversubscription rate of roughly 3.5 to 4 times.

The biggest IPO you’ll see this decade

SpaceX has priced its shares at $135 each, implying a company valuation somewhere between $1.75 trillion and $1.8 trillion.

Trading is set to begin on June 12, 2026, under the ticker SPCX. The offering is being shepherded by a murderers’ row of Wall Street banks: Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase.

Approximately 30% of shares are being reserved for retail investors. That’s an unusually large slice for individual buyers in an IPO of this magnitude. Most offerings of this size funnel the vast majority of allocation toward institutional players, leaving retail crumbs.

Bitcoin holders are selling to buy SpaceX

Reports indicate that a meaningful portion of the demand surge is being driven by Bitcoin holders liquidating their positions to participate in the SpaceX IPO.

Crypto platforms are bridging the gap

Platforms like Bybit and Kraken are offering tokenized access and pre-IPO products for SpaceX shares. Subscriptions are being accepted in USDC, meaning investors don’t even need to leave the crypto ecosystem entirely to participate.

Bybit’s IPO Express product lets crypto-native investors gain exposure to the SpaceX offering without going through a traditional brokerage account.

What this means for crypto investors

A $75 billion capital raise that’s oversubscribed nearly 4x means there’s an enormous amount of money in motion. If the SpaceX IPO prices on June 11 as planned, the days and weeks surrounding that event could see elevated selling pressure on Bitcoin and potentially other major digital assets.

For traders, the actionable takeaway is to monitor Bitcoin’s price action around the June 11 pricing date and June 12 trading debut.