Written by Zoltan Vardaistaff writerReviewed by Yohan Yunstaff writer
Written by Zoltan Vardaistaff writer
Reviewed by Yohan Yunstaff writer
SpaceX tokenized IPO campaign draws $557M on Binance ahead of debut
Latest NewsPublishedJun 12, 2026
Crypto markets are becoming a new venue for pre-IPO price discovery ahead of SpaceX’s highly anticipated debut today.
Binance’s SpaceX tokenized IPO campaign attracted over $557 million in USDC deposits from about 27,689 wallet addresses ahead of the company’s highly anticipated public listing.
Wallets contributing up to $20,000 accounted for more than 81% of participating addresses but only 18.39% of total funds, while 114 addresses contributed over $500,000 each, representing about 10.2% of the funds, as reported by Dune data.
The deposits point to strong demand for crypto-based pre-IPO exposure ahead of SpaceX’s Nasdaq debut on Friday, with the company seeking to raise $75 billion at $135 a share and an around $1.8 trillion valuation.
On decentralized exchange Hyperliquid, SpaceX perpetual futures traded in the $180-$200 range after the pre-IPO market went live on May 18, implying a valuation closer to $2.5 trillion, Talos stated in a Tuesday report. The implied share price moved closer to the IPO level by Monday but has since rebounded to $179.
SpaceX perpetual futures traded at around $179 across Hyperliquid, Binance and other crypto platforms. Source: Talos
Talos added that crypto exchanges are becoming a new price discovery venue for pre-IPO stocks, as Hyperliquid’s pre-IPO perps priced Cerebras’ (CBRS) recent Nasdaq debut within 1.3% of its $350 opening price.
Related: Crypto exchanges chase TradFi commodities market as pricing gaps persist
Crypto rails point to over $2 trillion SpaceX IPO valuation
On prediction market Polymarket, 56% of participants are betting that the SpaceX IPO will close with a $2 trillion to $2.5 trillion market capitalization after its first day of trading, while 25% are predicting a close between $1.5 trillion and $2 trillion.
SpaceX IPO closing market capitalization bets on Polymarket. Source: Polymarket.com
Meanwhile, more cryptocurrency exchanges are launching pre-IPO proxy offerings tied to Elon Musk’s rocket and satellite company.
OKX told Cointelegraph that it is preparing to list SpaceX on its X-perps on Friday, offering Europe-based traders futures exposure to the highly anticipated debut, with up to 10x leverage.
The launch adds to a growing roster of crypto platforms offering SpaceX-linked products, including Bitget, Blockchain.com, Bybit, Kraken and Coinbase.
Magazine: Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
- Elon Musk
- IPO
- Wall Street
- Cryptocurrency Exchange
- Stock Investment
- Investments
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