Coinbase Launches SpaceX Pre-IPO Trading as Space ETF Assets Top $5 Billion

Key Takeaways

• Coinbase launched SpaceX pre-IPO perpetual contracts for eligible users outside the US
• SpaceX’s planned IPO could raise roughly $75 billion and value the company at about $1.77 trillion
• Assets in space-focused ETFs have surpassed $5 billion and have more than doubled since the start of 2026 as investors seek SpaceX exposure

Retail investors looking for a way into the SpaceX IPO may no longer have to wait for the company’s shares to start trading publicly. As anticipation builds around what could become the largest public offering in history, new means to gain access are already in the market. Coinbase has ventured into SpaceX’s pre-IPO perpetual futures. Meanwhile, Space ETFs have taken the markets by storm.

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Coinbase Opens SpaceX Pre-IPO Perpetual Trading

Coinbase has launched pre-IPO perpetual futures tied to SpaceX. It gives eligible users outside the US a way to trade the private company’s valuation before it reaches public markets. The contracts are settled in USDC, trade around the clock, and do not have expiration dates. According to Coinbase CEO Brian Armstrong, the product is designed to help investors gain exposure to private companies before they go public. SpaceX is becoming the first listing under the new offering.

The launch comes as SpaceX moves closer to its public debut. According to regulatory filings, the company plans to sell approximately 555.6 million shares at $135 each. It is raising about $75 billion and implying a SpaceX valuation of roughly $1.77 trillion. This would make it the largest IPO ever and place the company among the most valuable publicly traded firms in the world.

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Retail Investors Are Finding New Ways to Access SpaceX Stock

Demand for SpaceX stock is also showing up. Recent data shows assets under management across space-focused ETFs have surpassed $5 billion for the first time. The figure has more than doubled since the start of 2026 and is up more than 900% over the past year.

One of the biggest beneficiaries has been the Space Innovators ETF (NASA), which has grown its assets to roughly $2.6 billion. The fund offers indirect exposure to SpaceX, which currently accounts for about 7.5% of its holdings.

The surge suggests investors are looking beyond traditional technology stocks and toward companies tied to space exploration, satellite infrastructure, and artificial intelligence.

SpaceX sits at the center of several of this. The company remains a major NASA contractor through its launch business and has also expanded its AI ambitions following the integration of Elon Musk’s xAI operations.

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