Coinbase Launches Pre-IPO Perpetual Futures for SpaceX
Coinbase has launched a perpetual futures product for pre-IPO companies, allowing traders to speculate on valuations before public listing. The first company available is SpaceX, with trading open to users outside the US, settled in USDC, and available 24/7. Positions automatically convert upon IPO completion, potentially leading to significant gains or losses. More companies in tech, AI, energy, and space are expected. This product combines perpetual futures—popular in crypto with no expiry—with pre-market trading. The launch coincides with Forbes reporting that SpaceX's IPO could make Elon Musk the world's first trillionaire, with Reuters targeting June 12 for the IPO. On prediction market Myriad, users see a 91% chance Musk achieves this before July.
Key facts
- Coinbase launches pre-IPO perpetual futures, starting with SpaceX.
- Product available to non-US users, settled in USDC, 24/7 trading.
- Positions auto-convert to stock after IPO; high risk of volatility.
- Forbes: SpaceX IPO could make Elon Musk the first trillionaire.
- More pre-IPO listings in tech, AI, energy, space expected soon.