SpaceX has made headlines with the filing of an S-1 form for a Nasdaq IPO under the ticker SPCX at a valuation of up to $2 trillion. The surprise revelation in the filing is the discovery of 18,712 BTC on the company's balance sheet worth around $1.45 billion. This places SpaceX among the seven largest corporate Bitcoin holders in the world.
The move has sparked discussions on Wall Street about the implications of corporate Bitcoin holdings and the potential impact on traditional spot ETFs. Analysts fear that the expected 2026 IPO wave involving SpaceX, OpenAI, and Anthropic could divert liquidity away from these funds.
XRP is currently experiencing a price slowdown due to Bollinger Band compression, effectively turning the broader $1.29-$1.50 range into a dead no-trade zone. The ETF paradox is becoming more visible as capital exits the giants while selectively rotating into altcoins.