Pre-IPO contracts allow you to speculate on the price these shares would have.
When SpaceX goes public, these contracts will reflect the market price.
Binance, the world’s largest cryptocurrency exchange, launched pre-IPO perpetual contracts linked to SpaceX, the aerospace company founded by Elon Musk. In this way, Binance allows its users to speculate on the valuation of the company before an eventual IPO.
He advertisement The launch of “SPCXUSDT Pre-IPO Perpetual” was carried out on May 21, 2026 and represents a new expansion of hybrid financial products within the digital asset ecosystem.
According to Binancethe objective of this novelty is to offer “early exposure to the market of private companies before their initial public offerings.”
During the first hours of trading, the contract traded close to $224 and accumulated $43.9 million in volume within Binancereflecting the strong speculative interest around an eventual SpaceX IPO.
It should be noted that an IPO (Initial Public Offering or initial public offering) It is the process by which a private company begins trading shares on public stock markets.
In this case, SpaceX is not yet listed on the stock exchange. That’s why, The contract does not represent real shares nor does it grant equity participation in the company. It is a financial derivative within Binance which allows operating on price expectations linked to a future public valuation.
Binance explained that, prior to an IPO, these contracts will seek to reflect public valuation signals, such as estimated price ranges or private market references. If the company finally goes public, the contract—as the exchange promises—will begin to follow the actual behavior of the stock in the market.
The exchange maintains that historically price formation prior to an IPO was reserved for institutional investors and private market participants. With this product, Binance says it is trying to transfer that dynamic to retail users through contracts settled in USDT, Tether’s stablecoin.
However, the product also has obvious limitations and risks. As SpaceX remains a privately traded company, there is no official market price for its shares yet. The valuation depends on expectations, liquidity and indirect references.
Furthermore, Binance clarified that If the IPO were canceled or postponed, the contracts could be withdrawn or liquidated under rules defined by the platform.
The initiative comes amid growing expectations surrounding an eventual SpaceX IPO. As CriptoNoticias has reported, The company reported revenues of $18.7 billion during 2025compared to the 14 billion registered in 2024, driven mainly by Starlink and space launch contracts.
Market reports estimate that SpaceX could seek a valuation close to $1.75 trillion in a future IPOwith scenarios that even project figures close to 2 billion.
If completed, it would be one of the largest initial public offerings in history, surpassing even Saudi Aramco’s stock market debut.
SpaceX’s growth reflects how some tech companies are expanding beyond a single sector. The company already combines businesses linked to space, telecommunications, artificial intelligence (AI) and digital infrastructure.