Binance Debuts SpaceX Pre-IPO Perp As Traders Expect $2 Trillion Valuation

Binance has launched a new product that enables traders to make predictions about the price of private companies before they go public. The first “Pre-IPO Perpetual Contract” on the exchange is associated with the Elon Musk’s rocket and satellite company, SpaceX.

Binance Futures Introduces SpaceX Pre-IPO Perpetual Contract

The new perpetual contract of SPCXUSDT will be settled in Tether on Binance. It allows those who wish to trade with the anticipated market price of SpaceX before it goes public.

Generally, such pre-IPO options are available to institutional entities and VCs. However, Binance aims to bring these offerings to retail crypto traders.

Shunyet Jan, the Head of Spot and Derivatives Business at Binance, remarked on the launch. He said, “Pre-IPO perpetual futures is another example of how Binance is democratizing access to market opportunities by combining crypto-native infrastructure with major financial events. As interest in public listings continues to grow, we’re giving users a more flexible way to engage with anticipated IPOs earlier.”

Moreover, he noted that the launch is part of Binance’s mission to become a “financial super app.” It will help to reach retail participants to investment opportunities that were not available before, he added.

How Will The Pricing Work?

Pricing for contracts are based on information available to the public before the IPO. These include fundraising rounds, private valuations and expected offering ranges. Once the company is listed on a public exchange, the perpetual will move to the current share price.

Binance’s pre-IPO launch follows reports from SpaceX that they acquired 18,712 BTC at an average price around $35,000. The company still held the stash them when they filed an S-1 with the U.S. Securities and Exchange Commission.

Meanwhile, the filing also showed that the first quarter sales were $4.69 billion and the net loss was more than $4.2 billion. Thus, it is assumed that in the future, SpaceX’s valuation at the IPO will exceed $2 trillion.

Traders on prediction platform Polymarket are currently pricing in a 70% likelihood of a $2 trillion market cap. Earlier, SpaceX confidentially filed for an IPO at $1.75 billion valuation, per reports.

Meanwhile, in recent weeks, other platforms such as OKX, Crypto.com and Hyperliquid have also launched trading platforms similar to Binance’s pre-IPO products.