finance
SpaceX Launches Oversubscribed $75B IPO at $1.8T Valuation, Allocates Up to 30% to Retail Investors Amid Crypto Market Sell-Off
The offering values the company at $1.8 trillion and opens to retail buyers through Robinhood, Fidelity and Charles Schwab. Bitcoin fell 16% during the same period while spot bitcoin and ether ETFs recorded $4.4 billion in redemptions.
Jun 6, 5:45 AM·1m read1 source
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SpaceX opened its $75 billion IPO roadshow on Thursday with the offering already oversubscribed and directed up to 30% of shares to retail investors through Robinhood, Fidelity and Charles Schwab. The allocation exceeds three times the typical retail slice in most IPOs. 8 trillion valuation.
Bitcoin fell roughly 16% over the same span and briefly traded below $60,000 before recovering to around $61,000. 4 billion, before a $3 million inflow on the next session ended the streak. Ether ETFs posted a 17-session redemption run that also ended that day.
Stablecoin flows showed no unusual movement. 6 billion for tether on May 20. 49 million ether withdrawn from exchanges on Friday, among the largest single-day totals of the year.
CoinDesk reported that stablecoin flows and on-chain data show no clear signs of abnormal cashing out from crypto markets during the week’s sell-off. The week’s largest flows appear consistent with withdrawals and dip-buying rather than a scramble for cash.
Robinhood will report June crypto volumes in mid-July, and Coinbase will break out retail activity in its second-quarter results later that month.
Until those figures appear, it remains unclear whether any crypto holders used proceeds to participate in the SpaceX offering.
