CoinDesk: No clear sign retail sold bitcoin to fund SpaceX IPO, despite speculation

Despite online speculation that retail traders sold bitcoin to buy into SpaceX’s IPO, exchange and stablecoin flow data show no abnormal cashing out from crypto markets, according to CoinDesk. SpaceX is seeking $75 billion at a $1.8 trillion valuation and is directing up to 30% of shares to retail via Robinhood, Fidelity and Charles Schwab. CoinDesk said the clearest crypto outflows were from spot bitcoin and ether ETFs, which saw record multi-session redemptions totaling about $4.4 billion before modest inflows resumed. SpaceX prices on June 11 and lists on the Nasdaq under ticker SPCX the next day.