SpaceX IPO Draws $250B in Demand -- Are Crypto and Tech Markets Paying the Price?

SpaceX’s public offering has drawn more than $250 billion in institutional demand, roughly four times the $75 billion target, valuing the company at about $1.8 trillion, making it the largest IPO in history. Institutional demand reportedly topped $250 billion, creating an oversubscription ratio of about 3.5 to 4 times the original offering. Roadshows with about 300 institutional investors and a Thursday price determination frame final allocations. Tech and crypto markets have fallen as investors await the mega-IPO, with Bitcoin down roughly 2.8% and the Nasdaq slipping. Major platforms have introduced pre-IPO SpaceX futures, including Binance, Coinbase, and Kraken, drawing $2.1 billion in activity on Binance alone.