SpaceX Token Short Sells Tank for Trader 0x60a Amid Record Pre-IPO Demand

Trader 0x60a is facing a significant loss after shorting nearly $5M to $6M of SpaceX SPCX shares, currently sitting at an unrealized loss of $740K as of June 15, 2026. The trader's bold move involved opening a short position near the lowest pre-IPO price points for the tokenized instrument.

SPCX is not actual SpaceX stock but rather a crypto-native instrument structured through special purpose vehicles (SPVs) that provides economic exposure to SpaceX equity value. With multiple exchanges canceling or refunding their tokenized SpaceX share campaigns in early June 2026, demand reached approximately $276M ahead of key listing events.

The short position, opened near the lows, was immediately swimming against a tidal wave of bullish sentiment as SPCX prices surged around the targeted NASDAQ debut in mid-June 2026. A $740K loss represents roughly a 12% to 15% drawdown on a $5M to $6M position, with the final damage depending entirely on what happens next.