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What Is SpaceX (SPCX)?
Key Takeaways
Space Exploration Technologies Corp., commonly known as SpaceX, is a private aerospace and technology company founded in 2002. It develops spacecraft, and the Starlink satellite internet network, and has recently been publicly listed on the Nasdaq under the ticker SPCX.
An initial public offering (IPO) is the process by which a private company first sells shares to the public. SpaceX's IPO has attracted significant attention due to its reportedly large target valuation.
Binance Futures offered the SPCXUSDT USDⓈ-Margined Perpetual Contract, which has transitioned from a Pre-IPO perpetual contract to a standard TradFi perpetual contract following SpaceX's official listing.
Binance Stocks also allows users to place whole-share limit orders for SPCX, giving investors direct equity exposure to the now-public company.
This is a general educational article and should not be construed as a solicitation or advice to conduct any investment actions. Products referred to below may not be available in your jurisdiction.
Introduction
SpaceX's anticipated public debut has become one of the most closely watched market events in recent years. The company raised $75 billion at $135 per share, successfully completing the largest IPO in history.
This article explains what SpaceX does, its IPO structure, how Binance Stocks works as a product to access equities such as SpaceX, and how the SPCXUSDT Perpetual Contract on Binance Futures works following the transition to a standard TradFi perpetual.
What Is Space Exploration Technologies Corp. (SPCX)?
Company overview
Space Exploration Technologies Corp. was founded in 2002, with the goal to reduce the cost of access to space and to support the long-term possibility of human life on multiple planets.
SpaceX developed the Falcon 9 rocket, which has become the world's most frequently launched orbital-class rocket, as well as the Falcon Heavy and the fully reusable Starship system, which is the largest rocket ever built.
Business segments
SpaceX has three main business segments:
Space infrastructure: providing commercial launch capabilities for satellites, government payloads, and crew missions.
Connectivity through Starlink: a low-Earth orbit satellite internet constellation designed to provide broadband internet access globally. Starlink is one of the primary revenue drivers for the company and serves both consumer and enterprise customers.
Artificial intelligence (AI): Operations of the chatbot Grok and the Colossus gigawatt-scale data centers fall under this category.
SpaceX's IPO and valuation
SpaceX has been a privately held company for most of its history, funded through a combination of government contracts, private investment rounds, and commercial launch revenue.
Its IPO attracted significant retail investor interest. 30% of the IPO shares was allocated for retail investors, a much higher percentage than the typical IPO, which is 5% to 10%.
SpaceX disclosed in its IPO prospectus that it does not expect to be profitable in the near term. Additionally, the prospectus also highlighted risk factors related to its business segments, for example:
Operations and business strategy can be affected by delays or difficulties in obtaining, maintaining or renewing required regulatory approvals and licenses required for space-related activities, including FAA launch and reentry licenses
Operations could also be affected by delays or difficulties in obtaining, maintaining or renewing required communications licenses for satellite connectivity services
AI products and the X platform are subject to complex and evolving laws and regulations across different jurisdictions regarding privacy, cybersecurity, data use, and data protection
SPCX on Binance Futures and Binance Stocks
SPCXUSDT USDⓈ-Margined Perpetual Contract Pre-IPO Trading on Binance Futures
Binance Futures originally listed the SPCXUSDT USDⓈ-Margined Perpetual Contract as a Pre-IPO Perp. Perpetual contracts are a type of derivative that allows traders to take long or short positions on an asset without an expiry date. Unlike spot trading, traders do not hold the underlying shares; instead, they hold a contract whose value tracks the price of the underlying equity.
Now that SpaceX has officially listed on Nasdaq and a stable external price index has been established, the SPCXUSDT contract has transitioned from a Pre-IPO Perp to a standard TradFi perpetual contract. The mark price is now anchored to the external SPCX reference price, bringing the contract in line with how other TradFi perpetual contracts on Binance Futures operate.
SpaceX (SPCX) on Binance Stocks
Binance Stocks supports whole-share limit orders for SPCX, with trading scheduled to begin on June 12, 2026. SPCX is designed to provide users with exposure linked to the value of SpaceX shares, subject to applicable product terms, eligibility requirements, and jurisdictional restrictions.
Should I Invest in SpaceX on Binance Stocks?
Deciding whether to trade SPCX depends on your trading experience and risk tolerance. The following considerations may help you evaluate whether this instrument suits your goals and risk appetite, but also remember that you should Do Your Own Research (DYOR).
Considerations in favor of investing
Some traders may find SPCX appealing for a few reasons:
Exposure to a high-profile company: SpaceX is one of the most closely followed pre-IPO names in recent years. Investors who believe in the company's long-term trajectory can now access SPCX shares directly through Binance Stocks, rather than relying on derivatives or secondary market vehicles.
Potential structural catalysts: SpaceX's fast-track inclusion in the Nasdaq 100 index after listing could generate sustained institutional buying pressure, potentially supporting the share price in the period following the IPO.
Retail-friendly IPO allocation: The unusually high retail allocation of 30% of IPO shares signals that the company and its underwriters sought broad public participation, which may reflect positively on the long-term shareholder base and price stability.
Considerations against trading
There are also some reasons why adding SPCX to your portfolio may not be aligned with your specific investment goals.
Spacex’s financial profile
SpaceX has disclosed that it does not expect to be profitable in the near term. Among its business segments, while its Starlink division is highly profitable, those earnings are offset by R&D spending on the Starship rocket and operational losses in its AI and xAI divisions. For a detailed look at SpaceX’s financials, you can check the “Key Business Metrics” section in its IPO prospectus.
Post-IPO price volatility
Newly listed stocks, particularly high-profile ones with elevated valuations, can experience significant price swings in the weeks and months following the IPO. Investor enthusiasm at listing does not always reflect long-term fundamentals.
Familiarity with stock trading
If you’re a seasoned crypto investor but don’t have much experience trading TradFi stocks, you may find that doing due diligence on a high-profile stock like SPCX is quite different from what you’re used to when evaluating a crypto asset. Factors such as earnings reports, regulatory filings, and macroeconomic conditions play a larger role in equity pricing.
FAQ
What is the difference between the SPCXUSDT perpetual contract and buying SpaceX shares on Binance Stocks?
Buying SPCX shares through Binance Stocks gives you actual ownership of SpaceX equity. You are a shareholder in the company and may benefit from price appreciation over time. The SPCXUSDT Perpetual Contract on Binance Futures is a derivative instrument: you hold a contract that tracks the price of SPCX, but you do not own any underlying shares, and do not enjoy any shareholder rights. Perpetual contracts also allow leverage and short positions, which are not available through direct share ownership.
Now that SpaceX has been listed, how does the SPCXUSDT perpetual contract work?
Following SpaceX's official Nasdaq listing, the SPCXUSDT contract transitioned from a Pre-IPO Perp to a standard TradFi perpetual contract. The mark price is now based on a stable external reference price derived from the SPCX market, rather than purely on Binance trading activity.
Closing Thoughts
SpaceX's IPO was one of the most significant public market events in recent years.
For traders exploring whether to invest in SPCX, make sure to conduct your own research and come to a complete understanding of what your investment might entail before committing to it.
Further Reading
What Are Forward and Futures Contracts?
What Are Funding Rates in Crypto Markets?
What Is Leverage in Crypto Trading?
What Are Tokenized Stocks?
What Are Real World Assets (RWA) in DeFi and Crypto?
Disclaimer: This content is presented to you on an "as is" basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the content is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. For more information, see our Terms of Use, Risk Warning and Binance Academy Terms.
Nest Trading Limited acts as your introducing broker and routes your orders for Securities to its clearing broker partner, Alpaca Securities LLC, for execution, clearing, settlement and custody. Binance does not handle or custody your Securities. Securities are subject to high market and liquidity risk and price volatility (particularly outside traditional market hours). The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. Binance may receive payment for order flow remuneration for directing your orders. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Securities Trading Product Terms and Risk Warning.
Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. TradFi Perps are subject to high market risk and price volatility (particularly outside traditional market hours). You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. TradFi Perps do not represent ownership of the relevant underlying asset. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Exchange Rules, Clearing Rules, Exchange Procedures, Clearing Procedures, Contract Specifications and Risk Warning.
Space Exploration Technologies Corp., commonly known as SpaceX, is a private aerospace and technology company founded in 2002. It develops spacecraft, and the Starlink satellite internet network, and has recently been publicly listed on the Nasdaq under the ticker SPCX.
An initial public offering (IPO) is the process by which a private company first sells shares to the public. SpaceX's IPO has attracted significant attention due to its reportedly large target valuation.
Binance Futures offered the SPCXUSDT USDⓈ-Margined Perpetual Contract, which has transitioned from a Pre-IPO perpetual contract to a standard TradFi perpetual contract following SpaceX's official listing.
Binance Stocks also allows users to place whole-share limit orders for SPCX, giving investors direct equity exposure to the now-public company.
This is a general educational article and should not be construed as a solicitation or advice to conduct any investment actions. Products referred to below may not be available in your jurisdiction.
Introduction
SpaceX's anticipated public debut has become one of the most closely watched market events in recent years. The company raised $75 billion at $135 per share, successfully completing the largest IPO in history.
This article explains what SpaceX does, its IPO structure, how Binance Stocks works as a product to access equities such as SpaceX, and how the SPCXUSDT Perpetual Contract on Binance Futures works following the transition to a standard TradFi perpetual.
What Is Space Exploration Technologies Corp. (SPCX)?
Company overview
Space Exploration Technologies Corp. was founded in 2002, with the goal to reduce the cost of access to space and to support the long-term possibility of human life on multiple planets.
SpaceX developed the Falcon 9 rocket, which has become the world's most frequently launched orbital-class rocket, as well as the Falcon Heavy and the fully reusable Starship system, which is the largest rocket ever built.
Business segments
SpaceX has three main business segments:
Space infrastructure: providing commercial launch capabilities for satellites, government payloads, and crew missions.
Connectivity through Starlink: a low-Earth orbit satellite internet constellation designed to provide broadband internet access globally. Starlink is one of the primary revenue drivers for the company and serves both consumer and enterprise customers.
Artificial intelligence (AI): Operations of the chatbot Grok and the Colossus gigawatt-scale data centers fall under this category.
SpaceX's IPO and valuation
SpaceX has been a privately held company for most of its history, funded through a combination of government contracts, private investment rounds, and commercial launch revenue.
Its IPO attracted significant retail investor interest. 30% of the IPO shares was allocated for retail investors, a much higher percentage than the typical IPO, which is 5% to 10%.
SpaceX disclosed in its IPO prospectus that it does not expect to be profitable in the near term. Additionally, the prospectus also highlighted risk factors related to its business segments, for example:
Operations and business strategy can be affected by delays or difficulties in obtaining, maintaining or renewing required regulatory approvals and licenses required for space-related activities, including FAA launch and reentry licenses
Operations could also be affected by delays or difficulties in obtaining, maintaining or renewing required communications licenses for satellite connectivity services
AI products and the X platform are subject to complex and evolving laws and regulations across different jurisdictions regarding privacy, cybersecurity, data use, and data protection
SPCX on Binance Futures and Binance Stocks
SPCXUSDT USDⓈ-Margined Perpetual Contract Pre-IPO Trading on Binance Futures
Binance Futures originally listed the SPCXUSDT USDⓈ-Margined Perpetual Contract as a Pre-IPO Perp. Perpetual contracts are a type of derivative that allows traders to take long or short positions on an asset without an expiry date. Unlike spot trading, traders do not hold the underlying shares; instead, they hold a contract whose value tracks the price of the underlying equity.
Now that SpaceX has officially listed on Nasdaq and a stable external price index has been established, the SPCXUSDT contract has transitioned from a Pre-IPO Perp to a standard TradFi perpetual contract. The mark price is now anchored to the external SPCX reference price, bringing the contract in line with how other TradFi perpetual contracts on Binance Futures operate.
SpaceX (SPCX) on Binance Stocks
Binance Stocks supports whole-share limit orders for SPCX, with trading scheduled to begin on June 12, 2026. SPCX is designed to provide users with exposure linked to the value of SpaceX shares, subject to applicable product terms, eligibility requirements, and jurisdictional restrictions.
Should I Invest in SpaceX on Binance Stocks?
Deciding whether to trade SPCX depends on your trading experience and risk tolerance. The following considerations may help you evaluate whether this instrument suits your goals and risk appetite, but also remember that you should Do Your Own Research (DYOR).
Considerations in favor of investing
Some traders may find SPCX appealing for a few reasons:
Exposure to a high-profile company: SpaceX is one of the most closely followed pre-IPO names in recent years. Investors who believe in the company's long-term trajectory can now access SPCX shares directly through Binance Stocks, rather than relying on derivatives or secondary market vehicles.
Potential structural catalysts: SpaceX's fast-track inclusion in the Nasdaq 100 index after listing could generate sustained institutional buying pressure, potentially supporting the share price in the period following the IPO.
Retail-friendly IPO allocation: The unusually high retail allocation of 30% of IPO shares signals that the company and its underwriters sought broad public participation, which may reflect positively on the long-term shareholder base and price stability.
Considerations against trading
There are also some reasons why adding SPCX to your portfolio may not be aligned with your specific investment goals.
Spacex’s financial profile
SpaceX has disclosed that it does not expect to be profitable in the near term. Among its business segments, while its Starlink division is highly profitable, those earnings are offset by R&D spending on the Starship rocket and operational losses in its AI and xAI divisions. For a detailed look at SpaceX’s financials, you can check the “Key Business Metrics” section in its IPO prospectus.
Post-IPO price volatility
Newly listed stocks, particularly high-profile ones with elevated valuations, can experience significant price swings in the weeks and months following the IPO. Investor enthusiasm at listing does not always reflect long-term fundamentals.
Familiarity with stock trading
If you’re a seasoned crypto investor but don’t have much experience trading TradFi stocks, you may find that doing due diligence on a high-profile stock like SPCX is quite different from what you’re used to when evaluating a crypto asset. Factors such as earnings reports, regulatory filings, and macroeconomic conditions play a larger role in equity pricing.
FAQ
What is the difference between the SPCXUSDT perpetual contract and buying SpaceX shares on Binance Stocks?
Buying SPCX shares through Binance Stocks gives you actual ownership of SpaceX equity. You are a shareholder in the company and may benefit from price appreciation over time. The SPCXUSDT Perpetual Contract on Binance Futures is a derivative instrument: you hold a contract that tracks the price of SPCX, but you do not own any underlying shares, and do not enjoy any shareholder rights. Perpetual contracts also allow leverage and short positions, which are not available through direct share ownership.
Now that SpaceX has been listed, how does the SPCXUSDT perpetual contract work?
Following SpaceX's official Nasdaq listing, the SPCXUSDT contract transitioned from a Pre-IPO Perp to a standard TradFi perpetual contract. The mark price is now based on a stable external reference price derived from the SPCX market, rather than purely on Binance trading activity.
Closing Thoughts
SpaceX's IPO was one of the most significant public market events in recent years.
For traders exploring whether to invest in SPCX, make sure to conduct your own research and come to a complete understanding of what your investment might entail before committing to it.
Further Reading
What Are Forward and Futures Contracts?
What Are Funding Rates in Crypto Markets?
What Is Leverage in Crypto Trading?
What Are Tokenized Stocks?
What Are Real World Assets (RWA) in DeFi and Crypto?
Disclaimer: This content is presented to you on an "as is" basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the content is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. For more information, see our Terms of Use, Risk Warning and Binance Academy Terms.
Nest Trading Limited acts as your introducing broker and routes your orders for Securities to its clearing broker partner, Alpaca Securities LLC, for execution, clearing, settlement and custody. Binance does not handle or custody your Securities. Securities are subject to high market and liquidity risk and price volatility (particularly outside traditional market hours). The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. Binance may receive payment for order flow remuneration for directing your orders. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Securities Trading Product Terms and Risk Warning.
Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. TradFi Perps are subject to high market risk and price volatility (particularly outside traditional market hours). You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. TradFi Perps do not represent ownership of the relevant underlying asset. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Exchange Rules, Clearing Rules, Exchange Procedures, Clearing Procedures, Contract Specifications and Risk Warning.
Avertissement : ce contenu inclut des opinions de tiers. Il ne constitue pas un conseil. Binance Ai peut être utilisée, sans garantie de résultat. Consultez les CG.