Overview June 12, 2026 marks one of the most consequential days in stock market history. SpaceX begins trading on the Nasdaq under ticker SPCX, priced at $135 per share, targeting a $1.75 trillion valOverview June 12, 2026 marks one of the most consequential days in stock market history. SpaceX begins trading on the Nasdaq under ticker SPCX, priced at $135 per share, targeting a $1.75 trillion val
SpaceX IPO: How to Buy SPCX Stock Today — and Get Free Tokens on MEXC
Overview
June 12, 2026 marks one of the most consequential days in stock market history. SpaceX begins trading on the Nasdaq under ticker SPCX, priced at $135 per share, targeting a $1.75 trillion valuation and raising approximately $75 billion — the largest IPO on record. For most retail investors, however, accessing this moment through a traditional brokerage is slow, complicated, and dominated by institutional allocations. This guide explains why SpaceX commands its valuation, and how MEXC gives global crypto users two practical, low-barrier ways to participate starting today.
Key Takeaways
SpaceX lists on Nasdaq on June 12, 2026 (ticker: SPCX) at $135 per share, implying a $1.75 trillion valuation
2025 total revenue reached $18.7 billion; Starlink connectivity revenue hit $11.4 billion with a 63% EBITDA margin
Starlink surpassed 10.3 million subscribers across 164 countries as of March 2026
MEXC RealStocks lets users buy real SPCX shares using USDT, with zero commission fees and no overseas brokerage account required
SPCXx Launchpad distributes 70,546 tokenized SpaceX shares (SPCXx), each backed 1:1 by a real SPCX share held in regulated custody
Both products are complementary: hold real shares for full equity exposure, subscribe to SPCXx for low-barrier price exposure
Why SpaceX Is Worth $1.75 Trillion
Starlink: A Satellite Network With Near-Zero Marginal Costs
SpaceX's core competitive moat is not its rockets — it is Starlink.
According to the IPO prospectus, Starlink's connectivity segment generated $11.4 billion in revenue in 2025, with an EBITDA of $7.2 billion and an adjusted margin of 63%. Subscribers grew from 2.3 million in 2023 to 8.9 million by end-2025, reaching 10.3 million across 164 markets by March 2026.
The structural advantage is straightforward: once the satellite constellation is in orbit, each new subscriber adds revenue at near-zero marginal cost. Between 2024 and 2025, Starlink's adjusted EBITDA grew 86% while subscriber count doubled — a textbook demonstration of operating leverage. In May 2026, SpaceX raised Starlink plan prices by up to $10 per month, signaling a deliberate shift from subscriber acquisition to margin harvesting.
Starship: The Cost Reduction Engine
SpaceX completed 165 orbital launches in 2025, its sixth consecutive annual launch record, with a single Falcon 9 booster reused 29 times. The FAA has authorized SpaceX to increase annual launch cadence at Starbase from 5 to 25 missions per year, enabling faster deployment of the next-generation large Starlink satellite constellation. Starship's capacity to carry 50 of those larger satellites per launch — compared to a fraction of that for Falcon 9 — means deployment cost per satellite will drop significantly once Starship enters full commercial service.
xAI: The AI-Space Convergence Thesis
SpaceX completed the acquisition of Elon Musk's AI company xAI in February 2026. The AI segment generated $3.2 billion in revenue in 2025 and is building the orbital computing infrastructure project codenamed COLOSSUS. SpaceX's low-earth orbit network creates natural infrastructure for xAI's computing demands — this is no longer just a rocket company. It is a vertically integrated platform spanning launch, connectivity, and computation.
This convergence is what justifies a valuation of roughly 94 times trailing revenue. Markets are not pricing 2025 financials. They are pricing the probability that Starlink, Starship, and xAI all execute over the next five to ten years.
The Retail Investor Problem: Why You Cannot Get IPO Shares the Traditional Way
The traditional IPO allocation system is designed around institutional investors.
Even when brokerages offer IPO access to retail clients, the share of allocation is minimal. SPCX reserved up to 30% of shares for retail — triple the typical 5 to 10% — but at a $75 billion raise, competition from hundreds of millions of eligible participants makes meaningful allocation unlikely for most individuals. Beyond allocation, the practical barriers compound: overseas brokerage account setup involves multiple rounds of KYC documentation, international wire transfers taking days, minimum deposit thresholds, and waiting periods that can extend to weeks. For anyone whose capital sits in USDT or other crypto assets, converting that into a position in a US-listed stock through traditional channels involves friction at every step.
The Solution: Buy Real SPCX Shares With USDT via MEXC RealStocks
MEXC launched RealStocks through its licensed broker partner Atomic Vaults. Eligible users can purchase genuine shares in US-listed companies — including SPCX — directly within MEXC's interface, settling in USDT, with no separate brokerage account required.
Feature | Traditional US Broker | MEXC RealStocks |
Account setup | Overseas account + multi-step KYC | MEXC account only, no separate brokerage needed |
Funding method | International bank wire, days to clear | USDT deposit, near-instant |
Trading fees | Typically 0.1%–0.5% per trade | Zero commission during launch period |
Minimum deposit | Often $500 or more | Low barrier to entry |
Dividend rights | Yes | Where applicable, dividend eligible |
Asset management | Crypto and stocks on separate platforms | Unified interface for crypto and US stocks |
Settlement currency | USD | USDT |
The shares held through MEXC RealStocks are real equity securities in custody with a licensed broker — not synthetic instruments, not price-tracking derivatives. Over 20,000 users participated in the beta phase, validating the product before the official launch. MEXC CEO Vugar Usi has described RealStocks as the point at which crypto users can "truly own world-class traditional financial assets within a familiar crypto trading environment — not just track their price."
The SPCX listing is live today. The entry window is open.
Trade SPCX now at MEXC RealStocks
Limited-Time Offer: SPCXx Launchpad — Share 70,546 Tokenized SpaceX Shares
MEXC is simultaneously offering a second route through SPCXx Launchpad: a tokenized stock subscription event distributing 70,546 SPCXx tokens.
What Is SPCXx?
SPCXx is a tokenized stock product issued under the xStocks framework. Each SPCXx token is backed 1:1 by a real SpaceX share held in regulated custody, with its price tracking SPCX's market performance in real time. The subscription price is 141.75 USDT per token (the $135 IPO price plus an approximately 5% underwriting service fee). Funds are frozen during the subscription period and only confirmed upon allocation.
How to Participate
Log in to MEXC and complete Advanced KYC verification
Deposit at least $100 in available funds to your account
Meet the Spot and Futures trading requirements to unlock higher subscription limits
Navigate to the SPCXx Launchpad page and select your preferred subscription pool (New User USDT, All-User USDT, or All-User USD1)
Submit your subscription; funds are reserved and frozen until allocation results are confirmed
After the event closes, SPCXx tokens will be tradable on the secondary market with zero transaction fees.
Context matters here: the two previous SPACEX(PRE) Launchpad phases attracted over $173 million in total subscriptions, and were heavily oversubscribed. Demand for this round is expected to be no different. The window is closing.
Subscribe at SPCXx Launchpad
SPCXx vs Real SPCX Shares: Key Differences
SPCXx provides price exposure to SPCX but does not confer voting rights, dividend entitlements, or shareholder claims — SpaceX has no involvement in the product. Real SPCX shares held through MEXC RealStocks carry full equity rights under the applicable custody structure. These are not competing products. They serve different use cases: use SPCXx for fast, low-barrier price exposure; use MEXC RealStocks for full stock ownership with dividend eligibility.
MEXC Crypto Pulse Research Team's Take
The $1.75 trillion valuation for SpaceX at approximately 94 times trailing revenue is not irrational pricing — it is a structured bet on three simultaneous execution scenarios: Starlink's subscriber base continuing to scale toward a hundred million users over the next decade; Starship dramatically compressing the cost of mass-to-orbit; and xAI's orbital computing infrastructure becoming a meaningful revenue category.
The closest historical analogy is AWS in 2003: invisible to most analysts on Amazon's income statement, yet the asset that would ultimately underpin the company's entire public market valuation. Starlink's economics — a constellation that generates increasing revenue at near-zero marginal cost once deployed — are structurally similar. The market is pricing that trajectory, not the current loss-making balance sheet.
The risks are real and should not be minimized. Elon Musk retains 85.1% voting control through a super-voting share class, meaning retail shareholders have no governance influence. Starship's commercial timeline carries execution risk. The xAI integration is early-stage, and its path to profitability is unclear. For retail investors, SPCX is best positioned as a long-horizon technology growth holding rather than a short-term trading instrument.
For the crypto-native audience, MEXC's three-tier product stack — Pre-IPO tokenized exposure, zero-fee Stock Futures, and RealStocks direct ownership — represents the most technically integrated approach to US equity access available in the digital asset ecosystem today.
Closing: More Than a Trade
Every era has its defining entry point.
Those who stayed in during the dot-com shakeout held their positions into Google's IPO. Those who bought Apple before the iPhone era captured the most significant consumer technology run of the past two decades.
SpaceX's public debut is the moment that compressed-price exposure to satellite internet, reusable rockets, and orbital AI infrastructure becomes available at the retail level — without institutional gatekeepers.
Hold SPCX for the long-term thesis through MEXC RealStocks. Subscribe to SPCXx for opening-day flexibility through SPCXx Launchpad. Both positions point in the same direction.
The opening bell has rung.
Frequently Asked Questions
When does SpaceX start trading?
SpaceX (ticker: SPCX) began trading on the Nasdaq on June 12, 2026. The IPO was priced at $135 per share on the evening of June 11, implying a $1.75 trillion valuation.
How do I buy SPCX stock?
You can purchase SPCX through any brokerage with US stock access. Alternatively, global crypto users can buy real SPCX shares through MEXC RealStocks using USDT, with no overseas brokerage account required and zero commission fees during the launch period.
What is the SpaceX stock ticker?
SpaceX trades under the ticker symbol SPCX on the Nasdaq.
What is SPCXx and how is it different from SPCX?
SPCXx is a tokenized stock product issued on MEXC Launchpad. Each token is backed 1:1 by one real SPCX share held in regulated custody, and tracks the stock's price. However, SPCXx does not grant voting rights, dividends, or shareholder status. Real SPCX shares — accessible through MEXC RealStocks — carry full equity rights where applicable under the custody structure.
Is SpaceX profitable?
SpaceX reported $18.7 billion in total revenue for 2025, but recorded a net loss of $4.9 billion due to heavy Starship R&D expenditure and xAI infrastructure investment. The Starlink connectivity segment itself is profitable, with a 63% EBITDA margin, and is the company's primary source of earnings.
What is the SpaceX IPO valuation?
SpaceX is targeting a $1.75 trillion valuation at the $135 per share IPO price, implying approximately 94 times trailing 2025 revenue. Private secondary markets traded between $129 and $137 per share in early June 2026.
Is MEXC RealStocks regulated?
MEXC provides RealStocks through its licensed broker partner Atomic Vaults. Users purchase genuine US-listed equities through this regulated brokerage relationship, not synthetic instruments. Users should confirm eligibility based on their jurisdiction before participating.
Disclaimer
This article is produced by the MEXC Crypto Pulse Research Team for informational purposes only and does not constitute investment advice, a solicitation, or an offer to buy or sell any security or digital asset. Investing in equities and cryptocurrency involves substantial risk, including the possible loss of principal. Past performance is not indicative of future results. SPCXx tokenized stock products provide price exposure only and do not confer SpaceX shareholder rights. Users should read all relevant product terms, risk disclosures, and confirm their jurisdiction's eligibility before participating. Market data referenced in this article is current as of June 12, 2026 and is subject to change. Nothing in this article should be construed as a guarantee of returns.
About the Author
The MEXC Crypto Pulse Research Team is the in-house content and market research division of MEXC, one of the world's fastest-growing cryptocurrency exchanges serving over 40 million users across 170+ markets. The team combines expertise across digital assets, traditional finance, and emerging technology to deliver institutional-grade market analysis for a global retail audience.
Sources
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The articles shared on this page are sourced from public platforms and are provided for reference only. They do not represent the position or views of MEXC. All rights belong to James Mitchell. If you believe any content infringes upon the rights of a third party, please contact service@support.mexc.com for prompt removal. MEXC does not guarantee the accuracy, completeness, or timeliness of any content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be interpreted as a recommendation or endorsement by MEXC. For expert insights and in-depth analysis, visit MEXC Learn.
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