Binance has introduced perpetual futures contracts allowing users to take positions on private company shares before their IPOs. The first contract, SPCXUSDT, is based on SpaceX's anticipated valuation.
"Pre-IPO perpetual futures democratize access to market opportunities by combining crypto infrastructure with financial events," said Shunyet Jan, Binance's head of Spot and Derivatives.
SpaceX plans to list on NASDAQ this month. Goldman Sachs leads the underwriting, with Morgan Stanley, Bank of America, Citigroup, and JPMorgan also involved.
The company was valued at $1.25 trillion in February after merging with Elon Musk's AI startup xAI. OpenAI and Anthropic may also go public this year.
