CLS.cn, June 11 (Edited by Zhao Hao) SpaceX under Elon Musk is set to list on the Nasdaq on June 12 with expected fundraising exceeding $75 billion, poised to be the world’s largest IPO in history.

Nevertheless, this capital bonanza may keep weighing on the cryptocurrency market, as numerous retail investors drawn to high-risk, high-reward opportunities are scrambling to raise capital for the star firm’s listing.

It is reported that SpaceX plans to break long-standing market norms in this IPO by allocating up to 30% of new shares (roughly $22.5 billion) to retail investors, a proportion far above the industry average.

Analysts and crypto industry executives stated that this shift is driving capital outflows from high-risk assets like cryptocurrencies toward equities. Crypto investors, including retail participants, are reallocating funds to take part in hot IPOs such as SpaceX, Anthropic and OpenAI.