Dubai, United Arab Emirates, May 21st, 2026 - Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced the listing of the SPCXUSDT Perpetual Contract, a new derivative that gives traders leveraged exposure to SpaceX (SPCX) in advance of the company’s planned initial public offering on June 12, 2026.
The contract is denominated in SPCX and settled in USDT, and it is available for trading around the clock. Bybit said the perpetual contract can be used with up to 10x leverage. The exchange also disclosed an estimated total share count for the underlying asset of 11.87 billion shares.
Context on the IPO and valuation targets
SpaceX is preparing what Bybit describes as a highly anticipated public offering scheduled for June 12, 2026. Official filings cited in the announcement indicate SpaceX is targeting a valuation between $1.75 trillion and $2 trillion and plans to raise approximately $75 billion in the IPO. If completed as asserted in the filings, that capital raise would exceed the previous record of $29.4 billion set by Saudi Aramco in 2019, making it the largest initial public offering in capital market history.
The announcement reiterates SpaceX’s technological and commercial footprint. The company is credited with sharply lowering launch costs through reusable rocket technology. Starlink, SpaceX’s satellite internet service, was reported to have over 8 million active subscribers and to have generated about $7.7 billion in revenue in 2024. The company has also moved into artificial intelligence infrastructure through its acquisition of xAI, Elon Musk’s AI venture, forming a combined profile that spans launch capabilities, global satellite connectivity, and AI development.
What the SPCXUSDT perpetual contract offers
Bybit framed the SPCXUSDT contract as a way for its global community to secure early-stage exposure to SpaceX via a crypto-derivative. Key features highlighted by the platform include continuous 24/7 trading, the availability of up to 10x leverage, and a perpetual structure that carries no fixed expiration date. The product is settled in USDT and is designed to allow traders to hold positions indefinitely without rollovers associated with dated futures contracts.
Bybit also emphasized the platform-level capabilities that accompany the listing: professional-grade charting and analytics, risk management tools, institutional-style custody, and insurance protections. The exchange positioned the roll-out as part of its ongoing effort to provide market participants with access to pre-IPO opportunities and to bridge access between traditional finance and decentralized markets.
Advantages and operational notes
- 24/7 access: The perpetual contract remains tradable outside standard equity market hours.
- High leverage: Traders may access up to 10x leverage on positions.
- Zero expiration: The perpetual format removes fixed settlement dates.
- Advanced tools: Bybit supplies charting, analytics, and risk-management features intended for active traders.
- Security and custody: The exchange cites professional custody arrangements and insurance protections.
The announcement also included standard caveats indicating terms and conditions apply, trading carries risk, and Bybit’s products and services may not be available in all jurisdictions. The company directed users to its contract-detail pages for eligibility and any potential restrictions.
About Bybit
Bybit positions itself in the announcement as a major global crypto exchange, serving a community of over 80 million users since its founding in 2018. The company reiterated its focus on Web3, partnerships with blockchain protocols, secure custody, diverse marketplaces, and tools aimed at both retail and institutional participants. Bybit described the SPCXUSDT listing as consistent with its mission to provide easier access to high-growth investment opportunities in tokenized and derivative forms.
For more information, the announcement included a press contact and pointed users to Bybit’s press resources and community channels.
Summary assessment
The SPCXUSDT perpetual contract makes pre-IPO exposure to SpaceX available through a crypto venue, with continuous trading and leverage of up to 10x. The listing references specific company metrics and IPO targets reported in official filings, and it is offered alongside a suite of professional trading and custody features. Interested users are reminded of jurisdictional availability and the inherent risks of leveraged trading.