SpaceX's $75B debut crowns bitcoin's comeback
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- SpaceX raised $75 billion at $135 per share, the largest IPO ever, trading as SPCX on Nasdaq with a roughly $1.8 trillion market cap after a 20% pop to $162.link ›
- SpaceX held 18,712 bitcoin on its balance sheet as of March 31, valued near $1.2 billion at $63,500 a coin.link ›
- ProShares will launch Ultra SpaceX (SPCF) and Themes will debut 2× long (SPCH) and short (SSPC) ETFs at the Cboe Monday — derivatives on a stock with two trading days under its belt.link ›
- Standard Chartered's Geoffrey Kendrick called Bitcoin's $59,000 low the cycle bottom, a 53% drop from the Oct. 6, 2025 high of $126,000, and set a $100,000 year-end target.link ›
- Spot bitcoin ETFs have bled $5.72 billion since mid-May, with Kendrick blaming the selling partly on holders raising cash for SpaceX's listing.link ›
- The ECB raised its key rate 25 bps to 2.25% on Thursday, its first hike since 2023, citing inflation from the U.S.-Iran war's energy shock and lifting its 2026 inflation forecast to 3%.link ›
- Oracle announced plans to raise another $20 billion as its AI capex blew past estimates, sending the stock lower on debt concerns despite a cloud-revenue beat.link ›
- Bank of America flagged 'red flags' in the S&P 500, warning the index's Big Tech concentration has 'run its course' and investors are making a concentrated bet disguised as diversification.link ›
SpaceX's $75 billion IPO — the largest ever — priced at $135 a share, opened on Nasdaq as SPCX, and popped 20% to $162 for a $1.8 trillion market cap, with ProShares and Themes already queuing 2× leveraged ETFs by Monday morning. Geoffrey Kendrick at Standard Chartered seized the moment to declare Bitcoin's $59,000 floor the end of crypto winter, targeting $100,000 by year-end and arguing that SpaceX's listing will finally close the $5.72 billion spot-ETF redemption drain he tied to IPO cash-outs. The ECB, less festive, hiked 25 basis points to 2.25% — its first move since 2023 — blaming the U.S.-Iran war's energy shock for reawakening eurozone inflation.
The stories behind this week
BofA: S&P 500 Is a Big Tech Bet Gone Too FarInvestors relying on the S&P 500 for diversified exposure may face higher risk than expected, as a narrow tech-driven rally masks broader market weakness and increases vulnerability to sector-specific downturns.
Bitcoin hit bottom at $59,000 marking end to the crypto winter, says Standard Chartered analystTraders who bought Bitcoin near Kendrick's $59,000 floor could see roughly 70% upside to his $100,000 year-end target, but one of his two named catalysts — the U.S.-Iran peace deal — is already wobbling after Trump publicly walked back the terms the same day he spoke of a likely agreement.
Elon Musk's SpaceX soars 20% in blockbuster Nasdaq debutThe IPO gives public investors direct exposure to SpaceX’s $1.8 trillion valuation and its sizable Bitcoin holdings, while the massive $75 billion fund raise underscores unprecedented market appetite for private‑sector space ventures. It also signals a shift in capital allocation toward high‑growth aerospace and crypto‑linked assets, potentially reshaping portfolio strategies for institutional and retail funds alike.
Bitcoin's 50% Drawdown Marks Shallowest Bear Market YetInvestors and institutional allocators face continued downside risk as ETF outflows and limited inflows erode liquidity, while the $60k‑$45k support zone and a 72% market‑market probability of a $55k dip highlight heightened bearish pressure for traders and fund managers in the crypto market.
Oracle's AI spending blows past estimates, raising worries over growing debt - ReutersOracle's $20 billion capital raise shows that AI infrastructure spending is now outstripping even fast-growing cloud revenue, forcing the company to lean on debt markets while investors weigh whether the AI capex will generate proportional returns.
ProShares and Themes to Launch 2× Leveraged SpaceX ETFsThe launch of 2× leveraged ETFs gives traders a new way to amplify short‑term bets on SpaceX’s debut, but the high‑risk structure means investors can quickly lose double the move or their entire capital, especially given the IPO’s massive valuation and potential volatility.
ECB hikes interest rates for first time since 2023 as Iran war ramps up energy costsThe hike raises borrowing costs for households and firms across the euro zone, aiming to curb inflation that has surged due to the Iran war’s energy shock, while the trimmed growth outlook signals tighter economic conditions; bond markets reacted with lower yields as investors reassess policy direction.
Asian Chip Stocks Rebound Amid OpenAI IPO FilingThe surge in chip stocks reflects a short-term reversal of recent tech selloffs, but OpenAI’s $850B+ IPO could tighten capital availability just as SpaceX prepares to list, raising stakes for investor allocation in high-growth tech.
Why it matters: SpaceX's $75 billion raise and 20% pop didn't just create a $1.8 trillion public company — it pulled forward a wave of capital rotation into private-tech IPOs, with leveraged ETF wrappers already amplifying the bet before analysts could write a single initiation note.
