SpaceX Pre-IPO Futures Launch on Binance as Bets on $2T Valuation Rise

(SeaPRwire) –   TLDR

• Binance has rolled out pre-IPO perpetual futures linked to SpaceX to enable early trading access.
• The new SPCXUSDT contract lets users bet on SpaceX’s valuation using USDT.
• SpaceX submitted its S-1 registration and revealed its Bitcoin holdings alongside quarterly financial results.
• Traders are factoring in a high likelihood that SpaceX’s valuation will surpass $2 trillion.
• Rival crypto platforms have also launched comparable SpaceX-linked derivatives products.

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Binance has rolled out pre-IPO perpetual futures linked to SpaceX, offering early trading access ahead of the company’s public listing. The new contract enables users to speculate on the firm’s valuation through crypto-based derivatives infrastructure. SpaceX, and Binance’s new product launch comes as market participants estimate the firm could top a $2 trillion valuation.

SpaceX, Binance Extend Derivatives Offerings to the Pre-IPO Space

Binance rolled out its first pre-IPO perpetual contract under the ticker SPCXUSDT. The contract uses USDT, a dollar-pegged stablecoin, for both margin and settlement.

The product tracks SpaceX’s projected valuation using publicly available financial indicators. These include data from private funding rounds and publicly announced IPO price ranges.

Binance confirmed that the contract will be adjusted once SpaceX begins public trading, after which point it will reflect real-time stock market performance.

Shunyet Jan, Binance’s head of spot and derivatives, discussed the launch in an official statement. He said it offers users “a more flexible way to engage with anticipated IPOs earlier.”

Jan added that the product aligns with Binance’s broader financial strategy, noting that the exchange aims to open access to opportunities that were previously restricted to a small set of investors.

SpaceX submitted its S-1 registration with the U.S. Securities and Exchange Commission on Wednesday. The filing revealed holdings of 18,712 BTC purchased at an average cost of $35,000 per coin.

The document also posted $4.69 billion in first-quarter revenue, alongside a $4.28 billion net loss for the same three-month period.

Pre-IPO Trading Gains Momentum Amid Rising SpaceX Valuation Expectations

Traders on Polymarket put the odds of SpaceX exceeding a $2 trillion valuation at over 70%. Reuters reported that the consensus target valuation is closer to $1.75 trillion.

Source: X

Rival crypto platforms have also launched similar derivatives products tied to SpaceX, including offerings from OKX, Crypto.com, and Hyperliquid’s Trade.xyz.

Trade.xyz rolled out its SpaceX perpetual futures on May 18. The product launched at $150 per share, which implies a $1.78 trillion valuation for the company.

The platform recorded $33 million in trading volume on its first day of operation, a figure that signals strong user interest in pre-IPO crypto derivatives.

Market analysts have observed a growing shift in trader attention toward SpaceX-related products, with some noting that this trend could impact activity across the broader crypto market.

Bitcoin recently hit a recent peak near $80,000 before pulling back to below $78,000, a price movement that coincided with rising public focus on SpaceX’s IPO developments.

Gene Munster of Deepwater Asset Management shared his thoughts on market sentiment in a public post. He said SpaceX’s IPO filing “sucked the air out” of Nvidia’s earnings reaction.

Nvidia shares closed flat at $220.60 even after the company posted strong quarterly results, as the SpaceX filing captured widespread attention across both crypto and equity markets.

Binance’s SPCXUSDT contract remains in active trading as valuation expectations for SpaceX continue to shift. The exchange has not yet announced plans for additional pre-IPO listings.