SpaceX Sets Record-Breaking $75 Billion IPO as Public Trading and Tokenized Shares Launch Simultaneously
SpaceX is preparing to make history on the public markets after pricing its long-awaited initial public offering at $135 per share, paving the way for what could become one of the most significant stock market debuts in recent decades.
The aerospace giant, led by Elon Musk, sold approximately 555.6 million shares in the offering, generating $75 billion in proceeds. The fundraising total surpasses the previous IPO record set by Saudi Aramco, which raised roughly $30 billion in 2019.
Trading is expected to begin on the Nasdaq exchange under the ticker SPCX, marking the first opportunity for retail and institutional investors to directly own shares in the company. At the IPO price, SpaceX commands a fully diluted valuation near $1.8 trillion, placing it among the world's most valuable publicly traded firms.
The valuation arrives as SpaceX continues expanding its business across rocket launches, government contracts, and its rapidly growing Starlink satellite internet network. The company generated approximately $19 billion in revenue last year, highlighting investors' willingness to place a premium on its long-term growth prospects.
Beyond its core operations, SpaceX has also attracted attention for its cryptocurrency holdings. As of March 31, the company reportedly held 18,712 bitcoin, a position worth nearly $1.2 billion based on current market prices. Once publicly listed, those holdings will effectively provide shareholders with indirect exposure to bitcoin through ownership of SpaceX stock.
Interest in the company's digital asset strategy has intensified amid speculation about deeper ties between SpaceX and Tesla, another Musk-led company known for maintaining a substantial bitcoin treasury.
Adding another layer to the debut, SpaceX shares are also expected to become available through a tokenized stock product built on the Solana blockchain. The offering, launched by Backpack, allows investors to gain blockchain-based exposure to underlying SpaceX shares and potentially redeem those tokens through the platform's brokerage infrastructure.
The dual launch across traditional stock markets and blockchain networks represents a notable milestone in the convergence of conventional finance and digital asset ecosystems. Supporters believe tokenized equities could improve accessibility and trading efficiency worldwide, while skeptics continue to question regulatory oversight, custody arrangements, and market structure implications.
As trading begins, investors will be watching closely to gauge demand not only for one of the largest technology IPOs ever completed, but also for the emerging model of bringing newly listed public equities onto blockchain rails from their first day on the market.