Crypto platforms are enabling international investors to access SpaceX's IPO, valued at $1.75 trillion, through innovative investment options.
Crypto Access to SpaceX IPO
As SpaceX gears up for its highly anticipated IPO, estimated at $1.75 trillion, the crypto industry is providing innovative ways for international retail investors to participate, bypassing traditional Wall Street limitations.
With conventional brokerage services facing overwhelming demand, crypto platforms are allowing speculation on SpaceX’s market debut through various mechanisms such as prediction markets, perpetual futures, and synthetic assets designed to mimic the company's performance.
While these options present new investment opportunities, they come with caveats: most do not confer dividends, voting rights, or direct ownership of SpaceX assets. Furthermore, many offerings remain unavailable in the U.S. due to shifting regulations concerning tokenized assets.
This trend underscores the increasingly blurred boundaries between traditional finance and digital assets. SpaceX’s IPO is seen as a pivotal moment that could shape perceptions of these new investment forms.
Last year, Robinhood faced criticism over stock tokens related to SpaceX and OpenAI that were available to European customers, leading to clarification that these were “tokenized contracts” rather than actual shares.
On Polymarket, users can place bets on SpaceX’s closing market cap, projected to be between $2 trillion and $2.5 trillion on its first trading day. However, U.S. regulated platforms like Kalshi do not offer similar betting options.
Traders on Myriad, a prediction market by Dastan, anticipate a 94% probability that SpaceX’s market cap will surpass $1.3 trillion at closing. Meanwhile, Payward, the parent company of Kraken, is offering tokens linked to SpaceX shares at $135 apiece, available in over 100 countries, targeting international investors who face difficulties accessing U.S. IPOs.
Mark Greenberg, Global Head of Payward Services, emphasized the platform's mission to democratize access, stating, “Going public should mean public to everyone.”
Coinbase International has also launched a perpetual futures contract for SpaceX, aligning with the company’s implied valuation, while Hyperliquid offers perpetual derivatives for continuous trading on SpaceX speculation. As of now, a market from TradeXYZ values the company at $168 per share.
As the IPO approaches, crypto exchanges are rolling out new products, including a service from Backpack allowing users to trade Solana-based tokens tied to SpaceX, convertible to traditional stocks within self-custodial wallets.
