Overview
- SpaceX set an IPO price of $135 per share, targeting about $75 billion in primary proceeds and a Nasdaq listing under the ticker SPCX that is expected to begin trading on June 12.
- Cryptocurrency exchanges Kraken and Bybit are running xStocks tokenized subscription windows that let retail users apply at the IPO price from June 7–11 with token trading timed to start on June 12.
- xStocks tokens are marketed as 1:1 economic exposure to SpaceX shares but do not grant voting rights, dividend claims, or direct issuer ownership, and applications do not guarantee an allocation.
- The deal includes an unusually large retail tranche — reported at roughly 30% — but the prospectus also shows Elon Musk retaining about 85% of voting power, creating concentrated governance and staggered lockups.
- Market participants report heavy oversubscription and warn that a very small immediate public float plus fast index‑entry rules could force big passive buying and amplify first‑day volatility.