SpaceX is attempting to raise $75 billion in what would be the largest initial public offering ever conducted, and the demand appears to be wildly outpacing supply. Reports suggest institutional and retail interest has reached roughly $150 billion, making the offering at least twice oversubscribed, with social media chatter pushing that figure as high as $250 billion, or nearly four times the shares available.

The company is targeting a valuation between $1.75 trillion and $1.8 trillion.

The numbers behind the frenzy

SpaceX filed confidentially for the IPO in April and May, with a fixed share price of $135. The company updated its prospectus in early June and is targeting a trading debut around June 12 on Nasdaq under the ticker SPCX.

The confirmed demand of around $150 billion already makes this an extraordinary event. The $250 billion figure circulating on social media remains unverified.

In a departure from the typical IPO playbook, SpaceX has allocated up to 30% of its shares for retail investors through platforms like Robinhood and Fidelity. Traditional IPOs typically reserve a much smaller slice for non-institutional buyers.

Why SpaceX commands this kind of demand

SpaceX’s Starlink satellite internet business provides broadband connectivity to millions of users across the globe. The company also dominates the commercial launch market, with its reusable Falcon 9 rockets fundamentally changing the economics of getting payloads to orbit.

SpaceX completed an acquisition of xAI in February 2026, integrating Elon Musk’s artificial intelligence venture into the broader SpaceX ecosystem.

SpaceX was valued at around $350 billion in late 2024 during secondary market transactions. Reaching a $1.75 trillion-plus valuation roughly 18 months later represents a dramatic increase in valuation.

What this means for crypto investors

Reports indicate that some crypto investors are liquidating Bitcoin positions specifically to participate in the SpaceX IPO. If that pattern holds at scale, it introduces a novel source of selling pressure on Bitcoin that has nothing to do with regulation, macroeconomic fear, or exchange blowups.

The 30% retail allocation amplifies this dynamic. Retail investors, who tend to have more concentrated portfolios and are disproportionately represented in crypto markets, now have a direct on-ramp to SpaceX shares through platforms like Robinhood and Fidelity.