On Thursday, June 11, U.S. bitcoin spot ETFs logged $19.03 million in net outflows for a fifth straight session, even as Blackrock's IBIT took in $30.26 million and Morgan Stanley's MSBT added $2.19 million. Ether ETFs also stayed negative, recording $15.89 million in outflows for a third consecutive day, while HYPE ETFs gained $622,020 and solana ETFs slid back to $4.38 million in net redemptions.

On June 12, 2026, Mantle said it listed SPCXx, a tokenized SpaceX equity issued by xStocks, enabling 24/7 on-chain trading and liquidity provision on Mantle starting the day SpaceX completes what it calls the largest IPO in history. Fluxion will offer issuer-direct minting using xStocks' Atomic RFQ to avoid AMM slippage, while Merchant Moe launched Project X with up to 100,000 MNT rewards beginning with the SPCXx/USDT0 pool.

Bitcoin (BTC) moved back above $64,000 on June 12, trading near $64,300 and rising about 1.9% over 24 hours. Analysts said the $64,000–$65,000 band remains the key resistance zone, with a break above $65,000 seen as important for a stronger rebound. Several major altcoins also posted gains during the session, alongside improving broader risk sentiment.

On June 12, several crypto trading platforms reported allocation disruptions tied to SpaceX IPO-themed offerings as retail demand surged. Binance and Bybit said they canceled or refunded parts of their campaigns after they were unable to secure enough underlying shares, while some Robinhood users also reported partial fills.

SpaceX said it completed a $75 billion IPO on June 12 while holding Bitcoin on its balance sheet. The company disclosed 18,712 BTC worth about $1.19 billion at press time, and reported an unrealized gain of $431 million. As shares began trading on Friday, BTC briefly reached around $64,300 before trading near $64,720, up 1.57% over 24 hours.

Binance has added bStocks Tokenized Security SpaceX (SPCXB) to its lineup, introducing a SpaceX-linked tokenized security to users of the exchange. The product is described as 1:1 backed with 24/7 trading and is positioned as tokenized exposure rather than direct ownership of SpaceX equity.

Bybit, Binance and Bitget have withdrawn their planned allocations for tokenized exposure to SpaceX's IPO after failing to obtain enough underlying shares, and each says affected users will be refunded. Bybit said Friday it will return all subscription funds and add a 10% consolation reward, while Binance said it will refund locked USDC and distribute a share of a $1 million airdrop tied to its upcoming SPCXB token.

SpaceX began trading on Wall Street under the SPCX ticker after selling 556 million shares at $135 each, with the stock opening at $150 and later swinging as high as $170 before slipping below $160. The IPO raised $75 billion and pushed SpaceX's market capitalization above $2 trillion, placing it ninth globally at the time of reporting. The newly assigned trillion-dollar valuation also lifted Elon Musk's paper wealth, with one post claiming he became the world's first trillionaire.