Elon Musk Files for Public SpaceX IPO: Details

Key Insights

• Elon Musk has filed to take SpaceX public, and it could be the biggest IPO in history. SpaceX lines up 21 banks for a mega IPO, code-named project Apex.
• SpaceX’s large Bitcoin holdings mean any move they make could sway the market. A sell-off or valuation change might ripple across the entire crypto sector.
• South Korean crypto exchange Bithumb has pushed its IPO to at least 2028.

As the war showdown heats up, the crypto and tech sectors remain thriving. The stock market connects with new markets through DeFi. Its market cap keeps growing daily.

The upcoming IPO could become the largest in history. Its pro-crypto stance might shake the stock market.

Elon Musk is at the centre of this IPO after receiving approval to proceed with the company’s public offering. How will the SpaceX IPO affect the stock and crypto market and other upcoming IPOs?

Elon Musk Files for SpaceX IPO

As per a confidential report, SpaceX, which is linked to Elon Musk, filed with the US SEC for an Initial Public Offering (IPO). The IPO, which will jointly include SpaceX and xAI, is the largest in 2026, with an expected valuation of about $1.75 trillion.

SpaceX generates a revenue of $15 billion. This explains why about 21 banking institutions were lining up for the mega IPO dubbed “Project Apex.” The banks in lead bookrunners included Morgan Stanley, Goldman Sachs, J.P. Morgan, Bank of America, and Citibank.

They were the same banks that were highly involved in tokenizing assets, bonds, currencies, and other instruments. Tokenization was happening through bridging between TradFi and DeFi.

More institutions were Barclays, Deutsche Bank, and Wells Fargo, among others. This move was bullish as it suggested capital would not be an issue with all the large banks involved.

Other IPOs that would launch in 2026 included OpenAI, valued at $850 billion. ByteDance was valued at $550 billion, while those of Anthropic and Databricks were valued at $380 billion and $130 billion, respectively. Additionally, Stripe and Ripple were planning for their own.

For SpaceX, it would shift in the tech stocks, which are largely working together with the AI narrative. That explains SpaceX’s decision to include xAI, a sister company.

The IPO would turn SpaceX into a public company. That shift would remove it from the list of top private firms holding Bitcoin.

How Will Bitcoin Holding Among Private Companies Position

SpaceX is the fourth-largest holder of Bitcoin among private companies, with 8,285 BTC valued at $556 million. This accounted for 0.039% of Bitcoin’s total supply. SpaceX’s role gave private firms confidence in BTC’s future.

The move to become a public company while it was still pro-crypto was bullish for the markets in the long term.

Block.one led with 164,000 BTC worth $11 billion. Tether followed with $6.452 million in BTC. Both firms ranked ahead of SpaceX. Stone Ridge held 10K BTC, valued at $671 million.

Upon going public, SpaceX will become a public company. The Tezos Foundation, with 2,903 BTC, will take its place at number five on the list.

This move would provide SpaceX with more capital, potentially allocating it to BTC. This could lead to a resurgence in the broader crypto market.

Why Did Bithumb Push Its IPO to At Least 2028

Meanwhile, South Korean crypto exchange Bithumb postponed the deadline for its IPO, pushing it to at least 2028. The firm’s Chief Finance Officer Jeong Sang-gyun cited the delay was due to internal issues and compliance challenges.

Bithumb IPO news | Source: CoinMarketCap

Despite SpaceX being in a different jurisdiction, its IPO approval in 2026 could set a precedent. That move might also open the door for Bithumb’s listing.

Participants are waiting for the SEC review. Only then will full details on the SpaceX IPO’s public availability emerge.

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