SpaceX executed the largest public offering in history, raising $75 billion by pricing 555.6 million shares at $135 each. Shares opened at $150 on the Nasdaq and surged 19% to close at $161 on their first trading day, catapulting the company's valuation past the $2 trillion mark.
In an unusual move, retail investors received up to 30% of the total allocation through brokerages including Robinhood, Fidelity, and Charles Schwab. First-day retail net purchases totaled approximately $118 million.
The debut triggered an immediate crypto crossover. Pre-IPO perpetual futures for SPCX on the Hyperliquid decentralized exchange generated over $1.3 billion in volume. Concurrently, a tokenized version of SPCX stock launched on the Solana blockchain.
Buried in regulatory disclosures was a critical detail: SpaceX holds a corporate treasury of 18,712 Bitcoin, valued at roughly $1.29 billion. This stake introduces direct cryptocurrency volatility into the company’s quarterly mark-to-market reports. For Elon Musk, the valuation surge reportedly combined with his Tesla holdings to create the world's first trillionaire.