Crypto markets are betting on SpaceX to trade at a 20% premium to its IPO price on its first day of trading, valuing the company at $2.2 trillion.

CoinFeed, June 11th - According to Zhitong Finance, crypto market traders are ignoring SpaceX's expected IPO price and giving it a higher valuation ahead of Elon Musk's rocket, satellite, and artificial intelligence company's debut. On Thursday morning New York time, perpetual futures linked to SpaceX were trading at approximately $165 on crypto trading platforms such as Hyperliquid and Binance, implying a valuation of approximately $2.2 trillion. The company is offering shares at a fixed price of $135 in its record initial public offering. SpaceX's IPO is scheduled to complete its pricing process on Thursday. Bloomberg reported on Wednesday that demand for the offering was reportedly more than four times the offering size. Sources familiar with the matter said that the terms of the offering are unlikely to change, meaning SpaceX will raise approximately $75 billion at a valuation of approximately $1.8 trillion.