SpaceX has completed the largest initial public offering in history, pricing its shares at $135 each and raising approximately $75 billion. This figure more than doubles the previous record set by Saudi Aramco in 2019.
The company's stock, trading under the ticker SPCX on Nasdaq, opened at $150 and soared to a peak near $225. It closed its first day with a gain of approximately 19%, giving SpaceX a market capitalization exceeding $2 trillion.
Demand was overwhelming. The offering was oversubscribed by as much as four times, forcing a reallocation of shares from retail to institutional investors.
The event sent a significant ripple through cryptocurrency markets. On its debut, the SPCX perpetual futures contract on the Hyperliquid exchange saw $1.4 billion in trading volume, making it the platform's largest single market.
Analysts point to a massive capital rotation into SpaceX equity as a source of short-term liquidity pressure across certain digital assets.