SpaceX pre-IPO markets diverge as Bybit and Binance expand SPCX access

SpaceX-linked trading remained widely dispersed across venues on June 9-12 ahead of a reported June 12, 2026 market debut, while Bybit and Binance expanded access through xStocks-based subscriptions and Binance Stocks trading. Trade.xyz's SPCX fell to about $154 on June 9 before rebounding to $158.69 on June 10, implying roughly $1.83 trillion to $1.88 trillion valuations, while BlockBeats reported Binance's SpaceX pre-market contract at $173.53, a 9.35% premium to Trade.xyz. Talos said SpaceX perpetuals traded near $155 versus a $135 IPO price, with open interest above $385 million and cumulative volume of $2.7 billion across Hyperliquid, Binance and OKX. Bybit said subscriptions for its xStocks-based SpaceX token run through June 11, with allocation on June 11-12 and spot trading due June 12. Binance Wallet separately said eligible users can subscribe to SPCXx, issued by Backed via xStocks, from June 11 to June 12, 2026, with a 100 USDC minimum, an approximately 135 USDC reference price, and tiered caps up to 500,000 USDC. Binance Stocks said whole-share limit-order trading in SpaceX stock, ticker SPCX, will begin at 09:05 UTC on June 12; pre-open orders will queue without execution during IPO price discovery, first-day trading will end at 20:00 UTC on June 12, and regular trading will resume at 13:30 UTC on June 15. Holders of the tokenized products get economic exposure only, without voting rights, dividends, direct ownership or claims against SpaceX. S&P Dow Jones Indices separately said SpaceX could be added more quickly to the S&P Total Market Index and Dow Jones U.S. Total Stock Market Index after a listing because it relaxed public-float rules for those benchmarks, while S&P 500 standards remain unchanged.