SpaceX IPO records $4.6 billion in trading volume
SpaceX’s IPO saw significant trading activity, with $4.6 billion in volume on the day of listing. The company’s valuation was also reflected in perpetual markets, which functioned as intended.
Pre-IPO perpetuals on derivatives platforms showed credible price discovery and deep liquidity for the tech unicorn. Total open interest peaked near $500 million across eight venues, including Hyperliquid, Binance, OKX, and Kraken.
The trading volume and open interest indicate a strong demand for SpaceX’s stock, with perpetuals traders able to monetize both pre-IPO volatility and post-listing convergence. Another stock, Cerebras, saw $281 million in IPO day volume on Hyperliquid.