SpaceX hasn’t even started trading on the Nasdaq yet, and crypto markets have already decided the IPO price is too cheap.
Synthetic perpetual futures tied to SpaceX on Hyperliquid have pushed implied valuations well past the company’s official IPO terms of $135 per share, which target a valuation in the range of $1.77 to $1.8 trillion. The SPCX-USDC perpetual contract launched in mid-May 2026 with a $150 reference price and has since surged to highs of $216, implying a valuation comfortably above $2 trillion.
Polymarket, the prediction platform that has become a go-to barometer for event-driven sentiment, currently assigns a 64% probability that SpaceX will close its first trading day with a valuation exceeding $2 trillion.
The numbers behind the hype
SpaceX is targeting a $75 billion raise through its Nasdaq listing under the ticker SPCX, with trading expected to begin around June 12, 2026. The traditional offering has reportedly attracted over $250 billion in demand, making it roughly fourfold oversubscribed.
