SpaceX IPO Soars 19% to $161; Leveraged ETF Launch Delayed to Monday, June 13

SpaceX raised $75 billion in its initial public offering on Friday, the largest IPO ever, with shares closing at $161 USD, up 19% from the $135 offer price. The company now trades on Nasdaq under ticker SPCX with a market cap of $2.1 trillion. However, asset managers seeking to launch leveraged ETFs tied to SpaceX were told to delay their debuts to Monday, denying speculators a chance to trade on the stock’s first day.

Record IPO Debut and First-Day Trading

SpaceX opened at $150 USD on Friday and rallied to a high of $176.52 before closing at $161. More than 500 million shares traded hands, approaching Facebook’s first-day volume of 580 million shares in 2012. The stock kept rallying in after-hours trading, adding about $100 billion to the company’s market cap. Elon Musk, who became the world’s first trillionaire based on his combined stakes in SpaceX and Tesla, rang the opening bell from Texas.

Why Leveraged ETF Launches Were Delayed

Asset managers eager to launch 2x long and 2x short leveraged ETFs on SpaceX were told on Wednesday to delay their debuts until Monday, the first trading day after the IPO. Exchanges cited SEC concerns about coupling ETF listings with the IPO itself. Matt Markiewicz, head of product at Tradr ETFs, said the firm had hoped to launch on Friday but will now debut on Cboe Global Markets Monday. These products could hold more than $10 billion in assets.

SpaceX’s Business and Growth Plans

Musk said on a JPMorgan livestream that SpaceX has been cash-flow positive since 2015 and plans to raise capital for a significant growth phase. The company aims to put over 100,000 satellites in orbit for communications and build AI data centers in space. SpaceX acquired Musk’s startup xAI in February 2026, bringing data centers, Grok AI models, and the social network X into the combined entity. According to its prospectus, SpaceX has accumulated a total loss of $41.3 billion since its 2002 founding, though the only profitable division today is Starlink satellite internet.

Options Trading and Market Impact

SpaceX options contracts are set to begin trading as soon as Tuesday, offering traders another way to bet on the stock’s trajectory. Heavy trading is expected when options launch in the coming days. Hedge funds had sold broader tech holdings ahead of the IPO, according to JPMorgan data, suggesting some rotation out of the sector into SpaceX.

Final Thoughts

SpaceX’s record IPO and 19% first-day pop show strong retail and institutional demand, but the delayed ETF launches signal regulatory caution. With options trading set to begin Tuesday, volatility may persist as traders seek exposure to the $2.1 trillion company.

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