Elon Musk’s SpaceX is pushing ahead with an accelerated timeline for what could become the largest IPO on record, with pricing now expected as early as June 11 and trading potentially beginning the following day on Nasdaq.
Reuters, citing sources familiar with the discussions, reported that the company has fast-tracked its plans after a quicker-than-anticipated review by the U.S. Securities and Exchange Commission. SpaceX is now preparing to release its prospectus within days, launch its investor roadshow on June 4, and debut in public markets as early as June 12.
The updated schedule marks a notable shift from earlier expectations of a late-June offering, which had loosely coincided with Musk’s birthday. Sources said the streamlined regulatory process allowed the company to bring forward its listing plans.
Nasdaq is expected to host the listing, a choice that could support faster inclusion in the Nasdaq-100 index and enhance early passive fund demand.
SpaceX filed its S-1 in April and is targeting a $75 billion raise at an estimated $1.75 trillion valuation. If completed at that scale, the deal would surpass Saudi Aramco’s 2019 IPO to become the largest market debut in history.
The size of the offering is already raising questions across Wall Street about its broader market impact. Analysts say a deal of this magnitude could drive substantial passive inflows, force index reallocations, and draw liquidity away from other asset classes.
MSCI warned earlier this year that mega-cap IPOs expected in 2026 could redirect billions of dollars into benchmark-tracking funds, reshaping sector weightings and reducing capital available to assets outside newly listed companies.
Crypto markets may also face indirect effects. Bitcoin, ether, and other major digital assets have increasingly traded in tandem with U.S. equities like the Nasdaq and S&P 500, suggesting that a large IPO allocation could temporarily dampen flows into higher-risk segments such as cryptocurrencies.
At the same time, SpaceX could bring direct bitcoin exposure to public equity investors. The company holds 8,285 bitcoin—valued at roughly $656 million—in Coinbase Prime custody, positioning it as the first major IPO to feature a sizable bitcoin treasury under fair-value accounting rules introduced in late 2024.
