{"id":73838,"date":"2026-06-10T15:47:46","date_gmt":"2026-06-10T15:47:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/spacex-ipo-hits-nasdaq-june-12-at-135-retail-investors-face-long-odds-on-allocation-bitcoin-news\/"},"modified":"2026-06-10T15:47:46","modified_gmt":"2026-06-10T15:47:46","slug":"spacex-ipo-hits-nasdaq-june-12-at-135-retail-investors-face-long-odds-on-allocation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/spacex-ipo-hits-nasdaq-june-12-at-135-retail-investors-face-long-odds-on-allocation-bitcoin-news\/","title":{"rendered":"SpaceX IPO Hits Nasdaq June 12 at $135 \u2014 Retail Investors Face Long Odds on Allocation \u2013 Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">SpaceX prices its $75B IPO at $135\/share on June 11, with Nasdaq trading beginning June 12 at 9:30 a.m. ET.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Kraken, Bybit, Coinbase International, and Ondo Finance offer non-U.S. users tokenized or synthetic SpaceX exposure.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Jay Ritter\u2019s research shows 90%+ of IPOs trade below their first-day low, making day-one purchases high-risk.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>The offering would give the company a post-IPO <span>market cap<\/span> of roughly $1.75 trillion, placing it among the largest public listings in U.S. history. Goldman Sachs is leading the deal, joined by Morgan Stanley, Bank of America Securities, Citigroup, and JPMorgan.<\/p>\n<p>SpaceX structured the offering as all-primary, meaning proceeds flow to the company. Elon Musk\u2019s shares are subject to a 366-day lockup.<\/p>\n<h2>Retail Allocation Is Real \u2014 but Not Guaranteed<\/h2>\n<p>SpaceX earmarked approximately 30% of the offering for retail investors, an unusually high share for a deal this size. Five brokerages received direct retail allocations.<\/p>\n<ul>\n<li aria-level=\"1\">Fidelity Investments: $2,000 minimum account balance required<\/li>\n<li aria-level=\"1\">Robinhood: No minimum<\/li>\n<li aria-level=\"1\">SoFi: No minimum, via Active Invest accounts<\/li>\n<li aria-level=\"1\">E*TRADE (Morgan Stanley): No minimum reported<\/li>\n<li aria-level=\"1\">Charles Schwab: Approximately $100,000 in brokerage assets required<\/li>\n<\/ul>\n<p>Investors who missed the allocation window can buy SPCX on the open market starting June 12 through any U.S. brokerage. That path is available to virtually all retail accounts.<\/p>\n<h2> <span>Crypto<\/span> Platforms Offering SpaceX Exposure<\/h2>\n<p>For investors outside the U.S. or those seeking 24\/7 access, four <span>crypto<\/span> venues are offering SpaceX products before and after the listing. None of these products confer actual share ownership, voting rights, or dividends. They are third-party instruments providing economic exposure only.<\/p>\n<p><strong>Kraken and Bybit (via xStocks):<\/strong> Both platforms offer tokenized SpaceX shares designated SPCXx. These are issued by Backed Assets (JE) Limited and backed 1:1 by underlying equity held in regulated third-party custody. Eligible non-U.S. users in supported regions (110-plus countries, excluding the U.S., UK, Canada, and Australia) can submit indications of interest at the $135 offering price. Post-listing, the token trades 24\/7. Kraken also offers a separate perpetual contract (PF_SPCXXUSD) with up to 5x <span>leverage<\/span>.<\/p>\n<p><strong>Bitget Wallet (via xStocks \/ <span>Solana<\/span>)<\/strong>: The self-custodial wallet ran a tokenized SpaceX IPO subscription on June 9 that closed 4x oversubscribed in 30 minutes. An initial $3 million allocation sold out immediately, prompting an expansion to $13 million \u2014 fully committed within the same window. All commitments were made on <span>Solana<\/span> using <span>USDT<\/span> and USDC, with entry starting at $10 and no account tier requirements. SPCXx token distribution is scheduled to complete before June 12.<\/p>\n<p>\u201cSelf-custodial wallets are becoming a serious channel for capital markets access,\u201d Alvin Kan, COO of Bitget Wallet, stated on Wednesday.<\/p>\n<p><strong>Ondo Finance:<\/strong> The Ondo Global Markets platform is launching SPCXon on or around June 12. The product is backed 1:1 by regulated custodians and designed as a total-return tracker. Non-U.S. users can mint and redeem via wallets such as MetaMask on Ethereum and <span>Solana<\/span>.<\/p>\n<p><strong>Coinbase International:<\/strong> The exchange launched SPCX-PERP, a USDC-settled perpetual futures contract, in early June 2026. It runs 24\/7 with no expiry and transitions to a post-IPO perpetual upon listing. Available to eligible non-U.S. traders only.<\/p>\n<p><strong>BitMEX:<\/strong> Offers a USDT-margined perpetual contract on SpaceX (SPCXUSDT). Cash-settled, synthetic, with no equity custody.<\/p>\n<p>The xStocks products on Kraken and Bybit, along with Ondo\u2019s SPCXon, represent the closest equivalents to actual equity exposure due to their 1:1 custody backing. The Coinbase International and BitMEX contracts are leveraged derivatives with <span>liquidation<\/span> risk.<\/p>\n<h2>Why Day-One Buying Carries Risk<\/h2>\n<p>The IPO hype around SpaceX is real. The structural risks are equally real.<\/p>\n<p><a href=\"https:\/\/site.warrington.ufl.edu\/ritter\/files\/IPO-Statistics.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Research<\/a> by University of Florida professor Jay Ritter shows average first-day IPO returns of 15% to 20% historically. That gain typically goes to institutional investors who receive shares at the offering price. By the time retail buyers enter the open market on June 12, much of that return may already be priced in.<\/p>\n<p>Longer-term data is more sobering. Studies by Ritter and co-researchers documented consistent IPO underperformance over three to five years after listing. Separate data shows more than 90% of IPOs eventually trade below their first-day low at some point during the price-discovery period.<\/p>\n<p>Day-one buyers also face limited information, no established trading range, and a supply-demand imbalance driven by post-IPO lockups. At a $1.75 trillion implied valuation, SPCX enters the market with minimal room for error in its fundamentals.<\/p>\n<p>Experienced traders often wait for an initial consolidation pattern before establishing a position. That approach sacrifices some upside but reduces the risk of buying into a short-term peak driven by media coverage rather than earnings.<\/p>\n<h2>What to Watch on June 12<\/h2>\n<p>The opening auction on <a href=\"https:\/\/news.bitcoin.com\/sec-approves-nasdaq-bitcoin-index-options-qbtc-cftc\/\">Nasdaq<\/a> may be delayed if demand creates an extreme order imbalance. Traders using market orders on the debut day accept significant uncertainty on fill price. Limit orders reduce that risk.<\/p>\n<p>For tokenized products on Kraken, Bybit, and Ondo, pricing will begin tracking the Nasdaq-listed SPCX once trading opens. Pre-listing premiums or discounts on these instruments can deviate meaningfully from the final offering price.<\/p>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/spacex-ipo-hits-nasdaq-june-12-at-135-retail-investors-face-long-odds-on-allocation-37856\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways SpaceX prices its $75B IPO at $135\/share on June 11, with Nasdaq trading beginning June 12 at 9:30 a.m. ET. Kraken, Bybit, Coinbase International, and Ondo Finance offer non-U.S. users tokenized or synthetic SpaceX exposure. Jay Ritter\u2019s research shows 90%+ of IPOs trade below their first-day [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":73839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73838"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73838"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73839"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}