SpaceX Plans to File for IPO Push Toward Trillion-Dollar Valuation, Tokenized Stocks Decline Amid Intensifying Capital Divergence

Gate News, March 25 — Elon Musk’s SpaceX is accelerating its IPO process. Reports indicate the company may submit a confidential IPO application to the U.S. Securities and Exchange Commission (SEC) as early as this week, with a target valuation of $1.5 trillion to $1.75 trillion, and plans to go public by June 2026. Several major Wall Street investment banks are involved in underwriting arrangements, and the fundraising scale is expected to exceed $75 billion.

Notably, SpaceX has completed its acquisition of xAI, further integrating AI and aerospace business segments. The combined valuation is approximately $1.25 trillion. Additionally, Musk confirmed that X Money plans to launch a public offering in April 2026, indicating an accelerated expansion of its financial and tech ventures.

However, the IPO expectations have not boosted the performance of related on-chain assets. Data shows that the tokenized stock SPACEX has experienced a correction in the secondary market, falling over 22% from recent highs, with 24-hour trading volume also significantly shrinking. The current price fluctuates around $680, reflecting some investors’ cautious stance or profit-taking ahead of major uncertainties.

Market analysts point out that the liquidity, regulation, and pricing mechanisms of tokenized stocks still differ from real equity, making their reactions to IPO news more complex. Meanwhile, institutional interest in tokenized securities continues to grow, with infrastructure gradually improving, and the integration trend between traditional capital markets and blockchain deepening.

On-chain data shows that SpaceX currently holds about 8,285 Bitcoin, valued at nearly $600 million, giving it a certain influence in the crypto market. Amid the intertwined developments of IPO progress and asset price volatility, investor valuation logic and risk appetite for SpaceX are showing clear divergence.