SpaceX IPO nears 4 times oversubscribed, squeezing crypto and tech

Written by Martin Youngstaff writerReviewed by Felix Ngstaff editorWritten by Martin Youngstaff writerReviewed by Felix Ngstaff editorSpaceX IPO nears 4 times oversubscribed, squeezing crypto and techLatest NewsPublishedJun 10, 2026Tech stocks and crypto are selling off in a “classic pre-mega-IPO liquidity squeeze,” say analysts. The initial public offering of Elon Musk’s SpaceX has reportedly seen an oversubscription rate running at almost four times the planned offering size, with some analysts suggesting it could be squeezing liquidity from the market. SpaceX’s IPO (SPCX) has attracted over $250 billion in investor demand, far exceeding the $75 billion it is seeking to raise in what would be the largest public offering ever, with the firm valued at $1.8 trillion, Reuters reported.Bankers and investors say it is the latest sign that demand is strong, as long-only funds have put in “sizable orders,” according to the sources. Pricing is expected on Thursday, though demand figures can still shift before then, as some large institutional investors tend to submit orders late in the process.Tech stocks tumble in IPO hype rotation The IPO comes at a time of extreme volatility in markets, with US tech stocks tumbling and crypto markets shedding more than $180 billion over the past week. Some analysts have speculated that the market retreat could be partially driven by selling to raise funds for the SpaceX IPO.“I’m seeing this exactly as the classic pre-mega-IPO liquidity squeeze playing out in real time,” Bitrue Research Institute research lead Andri Fauzan Adziima told Cointelegraph.“The tanking in crypto and tech stocks right now isn’t random, it’s the direct ‘IPO tax’ from SpaceX’s record-breaking deal, with pricing tomorrow and trading Friday at $135 for a $1.8 trillion valuation,” he said.“Oversubscription with massive orders confirms the hype, but that excitement is sucking liquidity out of correlated risk assets today, hitting crypto hardest because it’s the m…

SpaceX IPO nears 4 times oversubscribed, squeezing crypto and tech

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