SpaceX, OpenAI, and Anthropic Go Public: what does this mean for the crypto market?

SpaceX's stock market debut became one of the most widely discussed events both globally and within the cryptocurrency industry. In June 2026, SpaceX — Elon Musk's space company — conducted an IPO* that became the largest in the history of financial markets.

* IPO (Initial Public Offering) is the first public offering of shares in a privately held company on a stock exchange. An IPO makes it possible for a broad range of investors to purchase the company's shares.

During its initial public offering (IPO), SpaceX raised $75 billion. A total of 555.6 million SPCX shares were sold at a price of $135 per share. At the same time, Elon Musk became the world's first dollar trillionaire: the Tesla CEO's net worth exceeded $1.1 trillion.

Some experts have described this event as the beginning of the "era of super-IPOs" or so-called "mega-listings."

Are mega-listings drawing investors away from cryptocurrencies?

According to analysts, SpaceX's share offering is not an isolated case but the beginning of a large-scale transformation of the global financial market.

First, according to Reuters, the well-known Nasdaq stock exchange launched an accelerated procedure for including SPCX shares in its Nasdaq-100 index*. As a result, SpaceX's share price began to be reflected in the value of the Nasdaq-100 index after only 15 days. Normally, new shares must be traded for at least 3 months before they can be included in the Nasdaq-100, with the month of the initial public offering (IPO) not counted.

* Nasdaq-100 is a stock market index comprising the 100 largest non-financial companies whose shares are traded on the Nasdaq exchange. The index primarily includes technology companies, as well as companies from the telecommunications, healthcare, and consumer goods sectors.

Second, during the first month after trading began, SpaceX shares entered the list of the world's ten largest assets by market capitalization, surpassing Saudi Aramco (2222), Meta Platforms (META), Tesla (TSLA), and Bitcoin (BTC). As of July 2026, the market capitalization of SPCX shares stands at $1.95 trillion.

Experts note that the prolonged outflows from cryptocurrency exchange-traded funds, such as Bitcoin and Ethereum ETFs, coincided with the anticipation and execution of initial public offerings (IPOs) by major technology companies, including SpaceX and Anthropic.

Beginning in the first days of May 2026, the longest continuous outflow from BTC-based funds was recorded, lasting for seven consecutive weeks. During this period, the price of Bitcoin fell from $81,700 to a two-year low of $58,400.

Some experts believe that the beginning of the era of super-IPOs could drive a shift of capital from cryptocurrencies into the shares of newly listed mega-companies.

The $75 billion raised by SpaceX during its IPO represents approximately 3.5% of the total market capitalization of the entire cryptocurrency market. If more super-IPOs take place, the share of capital that could potentially "flow" out of the crypto market would become considerably larger.

SpaceX's IPO took place after its merger with another of Elon Musk's companies, xAI, which focuses on artificial intelligence and is behind the development of the well-known Grok neural network. The first company was valued at $1 trillion, while xAI was valued at $250 billion. The combined valuation of the two companies before the merger was lower than the current market capitalization of SPCX shares.

Other major AI companies, such as Anthropic and OpenAI, which developed the globally renowned Claude and ChatGPT neural networks, respectively, are already planning to issue their own securities on the stock market. Anthropic is valued at $350 billion, while OpenAI is valued at $500 billion.

Moreover, Anthropic's could take place as early as October 2026. OpenAI is planning to list in the final quarter of 2026.

Consequences of "mega-IPOs" for the cryptocurrency market

If the IPOs of mega-companies such as Anthropic and OpenAI take place, the crypto market could lose even more capital, particularly if its performance does not improve in the near future.

Another factor that could strengthen artificial intelligence is also related to the share offerings of major technology companies. The reason is that IPOs would make the AI industry more transparent and the analysis of companies operating in this sector more predictable.

This stands in sharp contrast to the cryptocurrency market, which remains unstable, particularly amid the tightening of US monetary policy.

At the same time, mega-IPOs could contribute to the rapid development of tokenized assets*.

* Tokenized (issued on a blockchain) assets are assets whose associated rights are represented by tokens on a blockchain. Digital assets can be linked to shares, bonds, real estate, precious metals, commodities, and other assets.

A significant development in this area was the emergence of so-called tokenized "pre-IPO assets (created before the public offering of shares)."

Such assets appeared before trading in SpaceX shares began, attracting investors' attention to the cryptocurrency market. This, in turn, could encourage investors to consider other digital assets as well.

In addition, positive financial market performance resulting from major technology companies going public could also affect related sectors, such as cryptocurrencies focused on artificial intelligence.

The future performance of the cryptocurrency market will depend on how investors perceive digital assets: as a separate segment dependent on demand for ETFs (exchange-traded funds) and other blockchain products, or as part of the broader technology sector.