BlockBeats: SpaceX $75B IPO could siphon liquidity from crypto markets

BlockBeats reported on April 25 that market analysis points to SpaceX targeting a June IPO, seeking to raise $75 billion at an implied valuation of $1.75 trillion. If completed, it would rank among the largest public offerings on record. The report adds that potential IPOs from OpenAI and Anthropic could arrive this year as well. Taken together, the three listings are projected to raise more than $240 billion by the second half of 2026, exceeding the combined proceeds of all U.S. venture-backed IPOs since 2000. Analysts say crypto assets and tech equities draw from the same "risk-on" capital base, meaning a mega-IPO could prompt portfolio rebalancing and tighten liquidity for Bitcoin and the broader crypto market. About 30% of SpaceX shares are expected to be allocated to retail investors (roughly $22 billion), potentially absorbing funds that might otherwise have flowed into Bitcoin and altcoins. SpaceX is also estimated to hold about 8,285 BTC (around $600 million). Its flotation would mark the first time a "super unicorn" goes public while holding a sizable Bitcoin position. Markets are expected to watch Bitcoin closely during the May–June roadshow. A pullback could signal liquidity being drawn away, while continued strength may suggest spot ETF inflows have started to decouple from traditional market dynamics.