Binance Launches SpaceX Perpetual Futures Contract
BITmarkets Team
May 22, 2026
According to Binance, these pre-IPO perpetual contracts are designed to track publicly available IPO pricing signals, including announced valuation ranges and final offering prices before a company starts trading on public markets.
Once a company is listed, the contracts are expected to shift toward tracking live market prices. The first product, SPCXUSDT Pre-IPO Perpetual, is linked to SpaceX’s anticipated public valuation, with additional pre-IPO contracts planned over time. The contracts do not provide ownership of underlying shares. Instead, they allow traders to speculate on expected company valuations both before and after a public listing.
Binance said these products may eventually transition into standard perpetual futures contracts once a stable pricing benchmark is established through public trading. If an IPO is delayed or canceled, contracts could be delisted and settled under separate exchange procedures.
Crypto firms expand investment products around SpaceX
The launch comes as SpaceX, led by Elon Musk, moves closer to what could become one of the largest IPOs in US market history. In April, SpaceX confidentially filed for an initial public offering with the US Securities and Exchange Commission and could proceed with the listing as early as June. The company recently confirmed plans to sell shares to public investors.
Reports suggest SpaceX may seek a valuation exceeding $1.75 trillion and raise as much as $75 billion — surpassing the roughly $29 billion raised during Saudi Aramco’s 2019 IPO. Crypto companies have increasingly launched products tied to SpaceX and other private technology firms in anticipation of future listings.
Earlier this year, tokenized equities platform xStocks partnered with Fundrise to bring onchain investment exposure to private companies including SpaceX, Anthropic and Databricks. In April, crypto exchange Bitget launched IPO Prime, introducing a SpaceX-linked pre-IPO product called preSPAX. The offering gave retail investors economic exposure to SpaceX’s potential listing without direct share ownership.
SpaceX’s Bitcoin holdings add another layer of investor interest
An SEC filing released Wednesday showed that SpaceX holds 18,712 Bitcoin acquired at an average purchase price of $35,320 per coin. That total exceeds the 11,509 Bitcoin reportedly held by Tesla.
If SpaceX were publicly traded today, it would rank as the seventh-largest public corporate Bitcoin holder, ahead of Coinbase Global, which holds 16,492 BTC, but behind Bullish with 24,300 BTC.
The growing overlap between private equity markets, crypto products, and corporate Bitcoin treasuries highlights how digital asset platforms are increasingly offering alternative ways for investors to gain exposure to high-profile private companies before they reach public markets.
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