Retail Traders Likely Not Selling Bitcoin for SpaceX IPO, Data Shows
Data from CoinDesk indicates that despite speculation, retail traders are not significantly selling their bitcoin to invest in SpaceX's IPO. The $75 billion offering's unusual allocation to retail investors is contrasted by stablecoin outflows and on-chain data that show no abnormal cashing out from the crypto markets.
On June 6, 2026, reports suggest that retail investors may be selling bitcoin to participate in SpaceX's planned $75 billion initial public offering (IPO), which values the company at around $1.8 trillion. However, analysis from CoinDesk reveals no significant movement of funds out of crypto markets to cash, undermining such claims.
SpaceX aims to direct up to 30% of its shares to retail investors through platforms like Robinhood, Fidelity, and Charles Schwab, a notable increase compared to typical IPO allocations. Despite the interest, stablecoin flows and on-chain metrics do not indicate a mass exodus from cryptocurrency to cash. Instead, up to $4.4 billion was redeemed from spot bitcoin and ether exchange-traded funds (ETFs), but these were more likely routine outflows rather than efforts to cash out for the IPO.
During a substantial sell-off, Bitcoin dropped nearly 16%, falling to below $60,000 before recovering slightly. However, stablecoin transactions, such as those involving USDC or tether, show typical patterns. Data indicate that outflows from stablecoins remained stable, aligning with figures noted since February. The largest recent outflows occurred prior to the sell-off, suggesting that the timing does not correlate with potential IPO investments.
Some speculations arise around whether investments for the SpaceX IPO could impact crypto holdings. Notably, outflows from major trading platforms could indicate market sentiment, but as traders withdraw Bitcoin and ether from exchanges—totaling about 66,470 Bitcoin and 2.49 million ether on a recent day—the withdrawals may reflect strategies more akin to buying dips than generating cash for IPO investments.
The upcoming IPO is set to price on June 11 and list on Nasdaq the following day under the ticker symbol "SPCX." As brokerages release their trading metrics for June in mid-July, clearer insights into retail trading behaviors may become available. Until then, data suggests that any immediate cashing out of crypto assets to pursue IPO shares may be overstated.
Summary based on original reporting by Shaurya Malwa at CoinDesk, originally published Jun 6, 2026. SolanaWire does not republish source content.
Researcher Taylor Hornby to Audit Monero Following Zcash Bug Discovery
Taylor Hornby, a security engineer who uncovered a significant bug in Zcash using AI, plans to audit Monero and other privacy-focused cryptocurrencies. The flaw in Zcash, which could have allowed for unlimited counterfeit tokens, was revealed on May 29, 2026, prompting an emergency fix by June 1, 2026, according to CoinDesk.
3 hours ago·CoinDesk·Reported by Shaurya Malwa
Bitwise CIO Claims Hyperliquid Remains Undervalued Despite Strong Performance
Bitwise Chief Investment Officer Matt Hougan states that Hyperliquid is undervalued, despite its strong performance as a large-cap crypto asset in 2026. In a memo, Hougan highlights the project's significance and argues that the market has yet to recognize its full value, according to Crypto Adventure.
3 hours ago·Crypto Adventure·Reported by Glenn Nasta
BitMEX Co-Founder Arthur Hayes Sells Worldcoin, Causes 20% Price Drop
BitMEX co-founder Arthur Hayes sold the entire stake in Worldcoin less than a day after stating he would continue holding it. His decision reflects concerns over declining pre-listing prices of SpaceX shares, contributing to a market downturn, according to CoinDesk.
4 hours ago·CoinDesk·Reported by Shaurya Malwa
Joseph Lubin-Linked Wallet Transfers 80,001 ETH Amid Market Pressures
A wallet associated with Ethereum co-founder Joseph Lubin has transferred 80,001 ETH after over three years of inactivity, raising concerns in the Ethereum market, according to Crypto Adventure. The transaction, valued at approximately $121.6 million, adds to the existing tension as Ethereum faces selling pressure.
4 hours ago·Crypto Adventure·Reported by Gianluca Longinotti
Trending this week
Bitcoin Rebounds to $61,000 After Liquidations Total $1.6 Billion
Bitcoin rebounded to approximately $61,000 after dipping below $60,000 due to a broad market selloff that resulted in $1.6 billion in liquidations, according to CoinDesk. This sharp decline was triggered by positive U.S. jobs data, which has implications for Federal Reserve interest rate expectations and risk asset performance.
6 hours ago·CoinDesk·Reported by Shaurya Malwa
Rare Casascius Bitcoin Redeemed as 25 BTC Moves Onchain
A rare Casascius Bitcoin has been redeemed onchain, releasing 25 BTC from a notable collectible format, according to Crypto Adventure. The specific coin, identified as S1-COIN-25, originated from the 2011-2013 minting period.
7 hours ago·Crypto Adventure·Reported by Radu B
Machi Big Brother Faces Another Liquidation on Hyperliquid
Trader Jeffrey Huang, known as Machi Big Brother, experienced a substantial liquidation on Hyperliquid, as reported by Crypto Adventure. His Ethereum position of 1,075 ETH, approximately valued at $1.71 million, was wiped out during a recent market downturn, reducing his account balance to around $52,000.
7 hours ago·Crypto Adventure·Reported by Iulian Lesanu
Professional Bitcoin Holdings Drop 17% as Institutions Cut Exposure
Professional investors significantly decreased their Bitcoin ETF exposure in the first quarter of 2026, according to CoinShares' report. Holdings dropped from 313,000 BTC to 261,000 BTC, reflecting a 17% decline as institutions navigated a challenging market environment.
7 hours ago·Crypto Adventure·Reported by Marius Bogdan Dinu
