SpaceX filed its S-1 registration statement with the SEC on May 20, marking the beginning of what could become one of the largest IPOs in history. The anticipated valuation sits between $1.75 trillion and $2 trillion.

Buried in the filing is a disclosure that SpaceX holds 18,712 Bitcoin, valued at roughly $1.45 billion, making it one of the largest corporate holders of BTC heading into a public listing.

Space stocks catch fire overnight

The filing triggered an immediate wave of buying across the space and satellite sector. European companies led the charge on May 21, with OHB climbing roughly 12%, Eutelsat jumping about 10%, and SES gaining around 3.5%.

SpaceX plans to list on the Nasdaq under the ticker SPCX. Goldman Sachs is running point as lead underwriter, with Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase providing support.

A roadshow is expected to kick off around June 8, with the actual IPO debut targeted for mid-June 2026. The confidential filing originally hit the SEC around April 1.

The Bitcoin angle investors can’t ignore

SpaceX’s 18,712 BTC stash is not just a footnote in the S-1. Anyone who buys SPCX stock on day one is getting indirect exposure to Bitcoin at a scale that rivals some of the largest corporate treasuries in the digital asset space, giving traditional investors a passive Bitcoin allocation whether they intended it or not.

From $1.25 trillion to potentially $2 trillion in four months

The company hit $1.25 trillion following its merger with xAI in February 2026, a deal that combined Musk’s rocket business with his artificial intelligence venture. Now, just four months later, the IPO valuation range suggests the market could value the combined entity at up to $2 trillion.