News

BlockBeats News, June 3rd, when SpaceX announced its IPO underwriters, JPMorgan was not among them. However, bearish investors and some senior executives at JPMorgan see this as a rare opportunity. Insiders revealed that hedge funds that did not invest in SpaceX are reaching out to JPMorgan to inquire about the possibility of shorting SpaceX after its market debut. As the largest U.S. investment bank that did not participate in SpaceX's IPO, JPMorgan is now in a unique favorable position to arrange these trades. A total of 23 banks are involved in the SpaceX IPO, covering most of Wall Street's giants. The SpaceX IPO is expected to take place on June 12th, with the stock symbol SPCX. SpaceX announced today that it plans to set the initial public offering (IPO) price at $135 per share, with approximately 5.556 billion shares to be issued, raising as much as $75 billion, corresponding to a company valuation of around $1.75 trillion. If successful, it will be one of the largest IPO projects in global capital market history. Currently on trade.xyz, the SPCX Pre-IPO price is reported at $189, corresponding to a post-listing valuation of $2.25 trillion, a 28.5% premium over the IPO price.

Odaily reported that the prediction market platform Kalshi announced on X that it has officially launched Bitcoin perpetual contracts. This is reportedly the first Bitcoin perpetual contract product in the United States to receive regulatory approval. The product is a perpetual contract based on the Bitcoin spot price and is classified as a futures contract. The Commodity Futures Trading Commission (CFTC) previously stated that, upon review, the BTCPERP contract complies with the Commodity Exchange Act and relevant regulatory requirements, including the core principles applicable to designated contract markets (DCM).

Dan Ives of Wedbush Securities stated that SpaceX’s initial public offering will be a “watershed event” that will not only break records but also set the tone for the subsequent IPOs of OpenAI and Anthropic PBC. The global technology research director and senior equity analyst said on Wednesday: “Get your popcorn ready: SpaceX, OpenAI, Anthropic—the coming months will be very exciting.” He also mentioned that this will be an event “of historical significance for the market.” The enthusiasm surrounding these IPOs is spreading broadly across the technology sector, which has been a major driving force behind U.S. stock indices hitting new highs. As of Tuesday, the tech-heavy Nasdaq 100 Index had risen 21% this year, almost double the increase of the S&P 500 Index.