SpaceX IPO Soars 60% as Bitcoin Holdings Ignite Crypto Frenzy

SpaceX's highly anticipated IPO has left investors in awe after its stock surged over 60% on its debut day, surpassing a market capitalization of $2.7 trillion.

The company, led by Elon Musk, listed at around $135 per share before skyrocketing to nearly $215 during intraday trading on June 12 under the ticker SPCX.

Leveraged exchange-traded funds (ETFs) designed to offer 2x daily exposure to SpaceX's stock saw significant trading activity, with one product from the Defiance family of ETFs seeing almost 1 million shares change hands on its first day.

The IPO filing also revealed that SpaceX holds a substantial amount of Bitcoin, approximately $661 million worth of BTC at the time of the filing, which has increased in value to around $1.45 billion.