SpaceX IPO could draw funds from crypto market, analysts say

The upcoming initial public offering (IPO) for SpaceX, scheduled for this week, could trigger a capital shift from the cryptocurrency market to the stock market, according to some analysts. Spencer Hallarn, head of over-the-counter (OTC) trading at GSR, told Reuters that the SpaceX IPO would require $75 billion in liquidity, which could lead to outflows from other risk assets, including crypto, The Block reported. Jeff Park, an advisor at Bitwise, recently argued that the market is selling BTC to raise funds for popular IPOs like those of SpaceX and Anthropic. Similarly, Vetle Lunde, head of research at K33 Research, suggested that investor anticipation for the SpaceX IPO may have contributed to the recent weakness in Bitcoin's price.