ChainCatcher reported that analysts believe SpaceX’s upcoming IPO could become a new short-term source of pressure for Bitcoin and the broader crypto market. The view is tied to the company’s reportedly planned allocation to retail investors: as much as 30% of the IPO shares may be made available to them. If investors want to participate in the highly watched offering, some may need to free up capital by selling high-risk assets such as Bitcoin and Ethereum.
SpaceX Plans a $75 Billion Fundraising
According to the report, SpaceX plans to issue shares at $135 each, aiming to raise $75 billion at a valuation of about $1.77 trillion. The size of the fundraising and the retail access structure are central to the discussion, because the IPO may draw funds from investors who are already exposed to crypto assets.
The head of trading at GSR said crypto assets may become one of the sources of funding for some investors preparing for the SpaceX IPO. In that scenario, selling Bitcoin, Ethereum or other liquid crypto holdings would be a way for investors to generate cash for participation in the offering. Such activity would place short-term pressure on crypto assets, especially the largest and most liquid tokens.
Other Popular IPOs Are Part of the Same Debate
Recent views have also linked SpaceX with future potential IPOs from OpenAI and Anthropic. These popular listings may encourage capital to move out of the crypto market, placing pressure on Bitcoin and Ethereum prices. The focus is not only on SpaceX itself, but on a broader competition for investor capital between crypto assets and major technology-related public offerings.
At the same time, SpaceX’s listing could also increase related on-chain trading activity. Hyperliquid and Binance already offer SpaceX-related perpetual contracts and tokenized stock products. As the IPO advances, trading interest in these related assets may rise further, bringing more activity to crypto platforms that support SpaceX-linked products.