SpaceX targets June 11 IPO pricing, picks Nasdaq for historic market debut

Elon Musk’s SpaceX is preparing to launch what could become the largest initial public offering ever recorded, with the rocket and satellite company expected to price the deal as early as June 11 and list on the Nasdaq exchange, sources familiar with the matter told Reuters on Friday.

According to news organization, citing three people with knowledge of the discussions, SpaceX has moved up its IPO schedule and now plans to make its prospectus public as soon as next Wednesday. The company is targeting the start of its investor roadshow on June 4 and could begin trading as early as June 12.

The revised timeline is weeks ahead of the company’s earlier target of late June, which had been loosely aligned with Musk’s birthday, the sources said. A quicker-than-anticipated review process by the U.S. Securities and Exchange Commission helped accelerate the timetable, the people added.

Reuters first reported in March that SpaceX was favoring Nasdaq for the listing, partly because the exchange could allow the company to secure faster inclusion in the Nasdaq-100 index.

SpaceX submitted its S-1 filing to the SEC in April and is seeking to raise roughly $75 billion at a valuation of about $1.75 trillion. At that size, the IPO would dwarf Saudi Aramco’s $29 billion 2019 flotation and become the largest stock-market debut ever.

The scale of the offering is already fueling debate across Wall Street about how such a large deal could reshape capital flows across equities and digital assets.

MSCI, whose indexes are widely tracked by institutional investors, warned in a February scenario analysis that megacap IPOs expected in 2026 could unleash billions of dollars in passive investment flows, trigger sector reallocations across benchmark indexes, and drain liquidity from markets outside the newly listed companies.

Cryptocurrency markets may also feel the impact because they increasingly trade as part of the same speculative capital ecosystem that supports high-growth technology and AI stocks.

Over the past two market cycles, bitcoin BTC$80,592.17, ether (ETH) and other major cryptocurrencies have shown rising correlation with the Nasdaq and S&P 500. Analysts say money redirected into a major IPO allocation could reduce flows into more volatile assets such as crypto.

SpaceX also brings direct bitcoin exposure to public markets. The company holds 8,285 bitcoin valued at roughly $656 million in Coinbase Prime custody. That would make the listing the first IPO of a company with a significant bitcoin treasury disclosed under fair-value accounting standards introduced in late 2024.