SpaceX is about to go public, and the world’s investors are tripping over each other to get in. Orders for the company’s initial public offering have surpassed $250 billion against a $75 billion raise, making it roughly 3.5 to 4 times oversubscribed.

That would make it the largest IPO in history, dethroning Saudi Aramco’s 2019 record. And a significant chunk of that demand is coming from outside the United States.

A global scramble for shares

European investors, particularly from Germany and France, have placed substantial orders. Gulf sovereign wealth funds are in the mix too, alongside buyers from Singapore and South Korea.

Several individual institutions reportedly submitted orders exceeding $10 billion each.

The IPO, priced at $135 per share, would value SpaceX at somewhere between $1.75 trillion and $1.8 trillion.

Trading is expected to begin on Nasdaq under the ticker SPCX around mid-June 2026, following an S-1 filing submitted in May. Morgan Stanley and Goldman Sachs are handling the underwriting.

Despite the massive international interest, analysts don’t expect a meaningful dollar-buying rush in foreign exchange markets. Most large foreign institutional investors already hold USD reserves specifically earmarked for opportunities like this. South Korea, for example, reported only $1.5 billion in associated dollar purchases, a rounding error compared to the scale of the offering.

Retail gets an unusual seat at the table

SpaceX has set aside 30% of shares for retail investors, a dramatic departure from the typical 5-10% allocation that most large IPOs offer individual buyers.

Tokenized shares will be available through platforms like Bybit and Ondo, creating a bridge between traditional equity markets and the digital asset ecosystem.

SpaceX has reportedly accumulated around 18,712 BTC as a strategic reserve, placing SpaceX among the more prominent corporate Bitcoin holders alongside MicroStrategy and Tesla.

Investors from mainland China and Hong Kong are barred from the IPO due to ITAR restrictions, the International Traffic in Arms Regulations that govern exports of defense-related technology.

What this means for investors

The S-1 filing highlighted an addressable market of $28.5 trillion, a number driven largely by Starlink, SpaceX’s satellite internet division.

If the IPO prices as expected, some analysts have speculated Elon Musk could become the first trillionaire on paper.