Elon Musk’s SpaceX has set the share price at $135, amassing $75 billion in the largest IPO to date. The company’s fully diluted valuation is projected to be around $1.8 trillion, with trading scheduled to commence on Friday on the Nasdaq.

— SpaceX (SPCX) has announced its initial public offering at a share price of $135, indicating a valuation close to $1.8 trillion.

— The company reported approximately $19 billion in revenue last year but has not yet recorded a net profit, holding significant bitcoin assets amounting to 18,712 BTC valued at nearly $1.2 billion based on current prices.

— In conjunction with its Nasdaq launch, a tokenized version of SpaceX stock released on Solana by Backpack will facilitate on-chain trading and redemption of the actual shares, gauging investor interest in the merging of traditional stocks and blockchain markets.

According to a filing with the U.S. Securities and Exchange Commission on Thursday, SpaceX has set its share price at $135, paving the way for one of the most anticipated public market launches in recent history.

The company successfully sold 555.6 million shares at this price, generating $75 billion, thereby establishing itself as the largest IPO ever, surpassing Saudi Aramco’s $30 billion in 2019.

Under the guidance of Elon Musk, the aerospace and satellite firm is poised to begin trading on Nasdaq on Friday under the ticker SPCX, offering public investors their first chance to purchase shares. Based on the set offering price, SpaceX will enter the public market with a fully-diluted valuation of about $1.8 trillion.

This valuation is steep, considering SpaceX generated around $19 billion in revenue last year, propelled by launches, government contracts, and the rapidly expanding Starlink satellite internet service.

Additionally, the company’s substantial bitcoin holdings will now be available in public markets, providing investors with indirect exposure to bitcoin through SpaceX shares. The growing bitcoin stake has garnered attention, especially with reports indicating Musk’s interest in merging SpaceX with electric vehicle manufacturer Tesla (TSLA). Tesla already possesses one of the largest corporate bitcoin reserves among publicly traded companies, holding over 11,500 BTC.

Simultaneously, as its anticipated Nasdaq debut approaches, SpaceX shares are also expected to start trading on Solana-based platforms through a tokenized stock version.

The token, created by Backpack, signifies ownership of the underlying SpaceX shares and can be exchanged for those shares via Backpack’s brokerage service.

This initiative marks one of the most significant attempts to bring newly listed U.S. equities onto the blockchain from their first trading day. Proponents argue that this model could enhance access and liquidity for investors worldwide, while skeptics have raised concerns regarding regulation, custody, and market fragmentation.

SpaceX’s market entry is anticipated to assess investor interest in both large-scale tech offerings and the increasing convergence of traditional finance with blockchain markets.

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Tokenized assets reached a record $28.9B in May; marking their tenth consecutive monthly all-time high. The stablecoin market cap has also risen to $320B.

Tokenized assets reached a record $28.9B in May; marking their tenth consecutive monthly all-time high. The stablecoin market cap has also risen to $320B.