- Coinbase has launched a product enabling 24/7 speculation on private company valuations before they go public, starting with SpaceX.
- The perpetual futures contracts are settled in USDC, have no expiry date, and are available to eligible users outside the United States.
- A SpaceX IPO could make founder Elon Musk the world’s first trillionaire, according to Forbes estimates.
On June 4, 2026, cryptocurrency exchange Coinbase introduced a novel financial product allowing global traders to speculate on pre-IPO companies. The initial listing is Elon Musk‘s SpaceX, with plans to add firms from technology, AI, energy, and space sectors.
CEO Brian Armstrong tweeted that “Pre-IPO perps are great to get exposure to private companies before they go public… and to help with price discovery.” However, the product is notably unavailable to users within the United States. Trades are settled using the USDC stablecoin and positions will automatically translate once an IPO is completed.
Consequently, traders can profit or incur losses based on the disparity between pre-IPO valuations and the eventual public debut price. This launch coincides with a Reuters report that SpaceX is targeting a June 12 listing. The perpetual futures model, popularized in crypto by platforms like Hyperliquid, provides continuous exposure without an expiration date.
Meanwhile, prediction market Myriad shows a 91% chance that Musk achieves trillionaire status before July. This market activity highlights the significant financial stakes surrounding the imminent SpaceX public offering.
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