SpaceX officially began trading on the Nasdaq on June 12, 2026, after pricing its initial public offering at $135 per share and raising $75 billion. That makes it the largest IPO in history, and it’s not particularly close.

Elon Musk rang the ceremonial opening bell remotely from SpaceX’s Starbase facility in Texas, while president Gwynne Shotwell and other executives held court at the Nasdaq MarketSite in New York. The stock, trading under the ticker SPCX, opened at roughly $175, about 30% above the IPO price.

The numbers behind the record

SpaceX sold 555.6 million shares at the $135 offering price, landing the company an initial valuation of approximately $1.77 to $1.8 trillion.

The company had previously been valued at over $200 billion in private markets. Going public at nearly nine times that figure tells you something about how aggressively investors priced in SpaceX’s growth trajectory, particularly its Starlink satellite internet business and its government launch contracts.

The SEC reportedly expedited its review process to facilitate the listing.

Why crypto investors should pay attention

SpaceX holds 8,285 Bitcoin on its balance sheet, valued at approximately $656 million at the time of the IPO. That makes SPCX one of the more significant publicly traded Bitcoin holders, joining the ranks of companies like MicroStrategy and Tesla that have turned corporate treasury Bitcoin into a talking point for shareholders.

Perpetual futures contracts linked to SpaceX have already been trading on crypto exchanges, with open interest exceeding $200 million.

What this means for investors

With SpaceX holding $656 million in Bitcoin, any major moves in BTC will now show up on SpaceX’s balance sheet, and vice versa. If SPCX sells or accumulates more Bitcoin, that becomes material information for both stock and crypto traders.

The perpetual futures activity is worth monitoring closely. Open interest north of $200 million suggests that crypto traders are already treating SpaceX as a tradeable proxy within their ecosystem. If that market grows, it could create new arbitrage opportunities between SPCX equity, its crypto exchange derivatives, and Bitcoin itself.

The first-day pop from $135 to $175 suggests the easy money in SPCX may already be priced in for short-term traders. Monitoring the correlation between SPCX stock performance and Bitcoin price movements over the coming weeks will be the clearest signal of whether this IPO is a one-time liquidity event or the beginning of a more structural capital rotation away from digital assets.