SpaceX Crypto Traders Are Betting on a $2.2 Trillion Valuation

Crypto traders are looking past SpaceX’s expected IPO price and placing a higher value on Elon Musk’s rocket, satellite and artificial intelligence company ahead of its trading debut.

Perpetual futures, contracts that don’t expire, tied to SpaceX were trading around $165 on crypto venues Hyperliquid and Binance Thursday morning in New York, implying a valuation of roughly $2.2 trillion. The company is offering shares at a fixed price of $135 in its record-setting initial public offering.

SpaceX’s IPO is set to price on Thursday. It has attracted demand for more than four times the available shares, Bloomberg reported ...