FLASH: Japan's central bank is expected to raise its policy rate from 0.75% to 1%, marking the highest level in 31 years and underscoring that the era of ultra-cheap yen funding is fading. The move is in focus for gold markets as yen-funded carry trades worth trillions of yen could unwind. As the cost of yen borrowing rises, investors may be forced to sell assets to meet funding needs, potentially including gold. #Gold #PreciousMetals #Macro

SpaceX shares ended their first trading day at $150, about 11% above the $135 offering price, according to CoinDesk. The report said demand was strong from the opening print, helped by a tightly constrained public float and expectations that index inclusion could add incremental buying. Only about 4% of SpaceX's shares are currently available for trading in public markets, with most of the remainder held by early investors and employees. A small float can intensify price swings around an IPO by limiting available supply. CoinDesk also noted that SpaceX had previously pushed for changes to certain index inclusion rules, accelerating the timeline for newly listed companies to be added to benchmarks such as the Nasdaq 100. The expected inclusion window is said to be shortened from potentially months to just a few days, which could bring forward demand from passive funds that track those indices and anticipate higher institutional buying. The combination of a limited float and expected index-related inflows can create a sharper supply-demand imbalance for new listings, the report said, helping explain why SpaceX's debut price traded above its offer level. The listing also lifted paper gains for early backers. Bloomberg estimates Founders Fund invested $600 million for roughly a 3% stake; at the $135 IPO price, that holding is valued at more than $50 billion. Andreessen Horowitz's stake is estimated at more than $10 billion, while Sequoia Capital's stake is put at above $20 billion. The report added that Elon Musk's net worth rose further on the IPO valuation, potentially putting him on track to become the world's first trillionaire. The New York Times previously reported that about 4,400 current and former SpaceX employees would become millionaires, including around 400 whose net worths would reach the hundreds of millions of dollars.

Robinhood saw record traffic as retail traders piled into the platform during a burst of market activity, extending a run of all-time highs across several key metrics. Operating data for May 2026 showed sharp gains in stock and options trading. Equity notional trading volume reached $315 billion, up 75% from a year earlier. Average daily equity volume rose to $15.8 billion, an 84% year-over-year increase. Broader platform indicators also strengthened. Total platform assets climbed to $377 billion, up 48% year over year. Funded customers rose to a record 27.7 million, while net deposits totaled $5.6 billion for the month. Options contracts traded reached 231 million, a 29% increase from last year. Robinhood also reported no platform outages during the traffic spike, a notable point given its history of disruptions during periods of heavy trading, including the March 2020 market selloff and several meme-stock episodes. Crypto activity was more subdued. Crypto trading volume totaled $12.2 billion in May, up 4% year over year. Average daily crypto volume fell to $190 million, a 50% decline from the prior year. For investors, the figures are broadly supportive. Growth in platform assets matters because it feeds interest income, which has become a core revenue driver in the post-zero-rate environment. Stable performance under peak demand also helps address a longstanding concern stemming from the 2021 GameStop episode, when outages and trading restrictions drew congressional scrutiny. The business remains highly sensitive to market activity, leaving volumes and revenue vulnerable in a downturn. If growth continues to lean on equities and options while crypto stagnates, Robinhood's exposure to traditional market cycles increases and its differentiation versus legacy brokerages could narrow.

China purchased 10 tonnes of gold in May, its largest monthly addition since January 2026, marking 19 consecutive months of net buying—the longest run since at least 2015. Total gold holdings rose to a record 2,331 tonnes, with gold now accounting for more than 9% of the country's total foreign currency reserves. In 2026, only Poland and Uzbekistan have bought more. Even with gold prices down 25%, China continues to add to reserves—underscoring a long-term allocation strategy rather than a tactical trade. #Gold #CentralBanks #PreciousMetals

Tokyo listed Metaplanet said it will acquire licensed financial instruments operator Siiibo Securities for 2.1 billion yen and rename it Metaplanet Securities after an expected July closing. The company said the unit will support Project Nova, aimed at developing and distributing Bitcoin linked yield products to Japanese investors, backed by its reported 40,177 BTC holdings.

Bybit said users will not receive SpaceX SPCX IPO allocations because xStocks was unable to deliver the underlying shares. The exchange confirmed the expected allocations will not be fulfilled due to the delivery shortfall tied to the shares.

SpaceX began trading on Nasdaq on June 12, 2026, after pricing its initial public offering at $135 a share and raising $75 billion, the largest IPO on record. Elon Musk rang the opening bell remotely from the company's Starbase site in Texas, while president Gwynne Shotwell and other executives appeared at the Nasdaq MarketSite in New York. Shares, trading under the ticker SPCX, opened around $175, roughly 30% above the offering price. SpaceX sold 555.6 million shares at $135, implying an initial valuation of about $1.77 trillion to $1.8 trillion. The company had previously been valued at more than $200 billion in private markets. The jump underscores investor expectations for continued expansion, led by the Starlink satellite internet business and government launch contracts. The SEC is reported to have expedited its review to support the listing. SpaceX also disclosed it holds 8,285 Bitcoin on its balance sheet, worth about $656 million at the time of the IPO. The position places SPCX among notable public companies with sizable Bitcoin treasuries, alongside names such as MicroStrategy and Tesla. Crypto-linked activity is already developing around the stock. Perpetual futures tied to SpaceX have been trading on crypto exchanges, with open interest above $200 million. For investors, SpaceX's Bitcoin holdings introduce a direct link between BTC price moves and the company's reported financials. Any decision by SPCX to sell or add to its Bitcoin position could become market-moving for both equity and crypto traders. The scale of derivatives positioning suggests some participants are treating SPCX as a proxy trade within the crypto ecosystem, potentially setting up arbitrage between SPCX shares, related exchange-traded derivatives, and Bitcoin. The first-day move from $135 to $175 indicates much of the initial momentum may already be reflected in the price for short-term traders. In the weeks ahead, the clearest read will come from tracking how closely SPCX trades alongside Bitcoin and whether the IPO proves to be a one-off liquidity event or a more sustained shift in capital allocation away from digital assets.

Odaily Planet Daily reports that Kraken's official account, Nata, said on X that Kraken did not receive the expected pre-IPO allocation from SpaceX's underwriters. As a result, only part of customer orders could be filled today; any unfilled portions will be fully refunded with no fees. Kraken said it is now enabling eligible customers to trade SpaceX equity and tokenized SpaceX (SPCXx) on the platform. The firm noted that demand for SpaceX pre-IPO access via xStocks has been exceptionally strong, and that IPO allocations are determined solely by the issuer's underwriters amid robust global demand. Kraken added that Payward is positioned to secure IPO allocations, citing more than $1 billion in pre-IPO demand attracted in the week ahead of the listing. Customers will receive updates in the coming weeks regarding upcoming IPO Access offerings. After SpaceX lists publicly, Kraken plans to make SpaceX equity and xStock available to eligible customers. Kraken also said xStocks is currently the only platform offering continuous trading of tokenized SpaceX shares, with trading available over the first weekend following the listing.