SpaceX Nasdaq Debut: What Investors Need to Know About SPCX Stock

TLDR

• SpaceX priced its IPO at $135 per share, raising $75 billion — the largest IPO in history
• The company’s fully diluted market value is approximately $1.8 trillion at listing
• Elon Musk holds roughly 40% equity and over 84% voting power in the company
• SpaceX holds 18,712 Bitcoin, worth close to $1.2 billion at current prices
• A tokenized version of SpaceX shares began trading on Solana-based infrastructure on the same day as the Nasdaq debut

---

SpaceX priced its initial public offering at $135 per share on Thursday, raising $75 billion and setting a record as the largest IPO in history. The company is set to begin trading on the Nasdaq under the ticker SPCX on Friday.

SpaceX has officially confirmed that they are on track to IPO tomorrow at $135 per share! 🚀

“SpaceX today confirmed the pricing of its initial public offering of 555,555,555 shares of its Class A common stock, at a public offering price of $135 per share. The shares are… https://t.co/nc06xjYbor pic.twitter.com/mo8ZhcIGEx

— Sawyer Merritt (@SawyerMerritt) June 11, 2026

The raise easily beats Saudi Aramco’s $30 billion IPO in 2019, which previously held the record. At the $135 price, SpaceX enters the public markets with a fully diluted valuation of roughly $1.8 trillion.

SpaceX sold 555.6 million shares in the offering. The company reported approximately $19 billion in revenue last year, driven by rocket launches, government contracts, and its Starlink satellite internet service.

Global brokerage Oppenheimer has already set a price target of $190 per share, above the $135 offering price. Demand from both institutional investors and retail buyers is expected to be high.

Elon Musk, already ranked as the world’s richest person, is expected to become the world’s first trillionaire if shares trade at or above the offering price. Musk holds roughly 40% of SpaceX’s total equity through a combination of Class A and Class B shares.

That combined stake gives Musk more than 84% of the company’s total voting power. By comparison, Meta’s Mark Zuckerberg holds around 60% voting control of his company.

Because of that concentration of control, SpaceX is not required to have any independent directors on its board. Harvard Law School analysis noted that insiders will be able to make decisions on deals and compensation without outside oversight.

SpaceX’s Bitcoin Holdings Enter Public Markets

SpaceX held 18,712 Bitcoin as of March 31. At current prices near $63,500, that holding is worth close to $1.2 billion.

With the public listing, investors will now have indirect exposure to Bitcoin through SpaceX shares. The company’s crypto position has drawn attention in part because of reports that Musk has explored combining SpaceX with electric vehicle maker Tesla.

Tesla already holds one of the largest corporate Bitcoin treasuries among public companies, with more than 11,500 Bitcoin on its balance sheet.

Tokenized SpaceX Shares Launch on Solana

At the same time as its Nasdaq debut, SpaceX shares also began trading as a tokenized asset on Solana-based infrastructure. The token was issued by Backpack and represents ownership of real SpaceX shares.

Holders can redeem the token for actual shares through Backpack’s brokerage platform. Supporters say the model could expand access to newly listed stocks for global investors.

Critics have raised concerns about regulation, custody risks, and market fragmentation. The SpaceX debut is one of the highest-profile tests of bringing a newly listed U.S. stock onto a blockchain from day one.

The listing is also being watched as a possible model for other large private companies, including Anthropic and OpenAI, both of which have said they are preparing to go public in the near future.

SpaceX had previously acquired Musk’s AI startup xAI, which itself acquired the social media platform X in 2025.

Tom Mueller, the first official SpaceX employee and now founder of Impulse Space, told the BBC the journey has been “an incredible ride,” recalling early engine failures before the company’s first successful orbital launch in 2008.