BlockBeats news, June 6: Despite market speculation that some retail investors may sell Bitcoin to participate in SpaceX’s record-breaking $75 billion IPO, stablecoin flows and on-chain data show no signs of large-scale capital outflows from the crypto market.
The valuation for this SpaceX IPO is approximately $1.8 trillion, with up to 30% of shares allocated to retail investors through platforms such as Robinhood, Fidelity, and Charles Schwab—significantly higher than the typical 10% allocated to individual investors in traditional IPOs. Since the roadshow began, demand for subscriptions has exceeded the offering size.
Data shows that outflows of USDT and USDC remain within normal ranges since February this year, with no unusual redemptions or supply contractions. In contrast, on June 6, Bitcoin and Ethereum recorded net outflows of approximately 66,470 BTC and 2.49 million ETH from exchanges, indicating that more investors are transferring assets to private wallets—a sign of accumulation rather than concentrated profit-taking.
However, on-chain data cannot reflect trading activities of users within platforms like Robinhood and Coinbase, so it remains to be seen whether crypto investors sold assets to purchase SpaceX shares—awaiting further data releases from the relevant brokers.
The most notable outflows currently come from spot ETFs. Data shows that as of June 3, U.S. spot Bitcoin ETFs have experienced net outflows for 13 consecutive trading days, with cumulative redemptions totaling approximately $4.4 billion; spot Ethereum ETFs saw continuous outflows for 17 consecutive trading days before returning to modest net inflows.
According to the plan, SpaceX will finalize its pricing on June 11 and list on the Nasdaq under the ticker symbol SPCX on June 12.