ChainCatcher reported that analysts believe SpaceX’s upcoming IPO may become a fresh source of short-term pressure for Bitcoin and the broader crypto market. The concern is tied to reports that the company will open as much as 30% of its IPO allocation to retail investors. If investors seek to participate in the high-profile offering, some may sell high-risk assets such as Bitcoin and Ethereum in order to free up capital.
SpaceX plans to issue shares at $135 each, aiming to raise $75 billion at a valuation of about $1.77 trillion. Given the size of the proposed financing and the level of investor interest surrounding the company, the offering has become part of the discussion around short-term capital rotation between crypto assets and major private-company listings.
A GSR head of trading said crypto assets may become one of the sources from which some investors raise funds for the IPO. Recent views have also suggested that SpaceX, along with future potential IPOs from OpenAI and Anthropic, may encourage funds to move out of the crypto market and place pressure on Bitcoin and Ethereum prices. The focus of this view is the near-term movement of capital from liquid crypto holdings into popular equity offerings.
At the same time, SpaceX’s listing may also boost related on-chain trading activity. Hyperliquid, Binance and other platforms already offer SpaceX-linked perpetual contracts and tokenized stock products. Trading interest in those related assets may rise further as the IPO process advances.
The discussion around the SpaceX IPO therefore has two connected strands: one centers on short-term funding pressure on Bitcoin, Ethereum and other high-risk crypto assets, while the other centers on increased trading activity around SpaceX-linked perpetual contracts, tokenized stock products and related on-chain instruments.