SpaceX's $75B IPO Could Enter Nasdaq-100 With 18,712 BTC Holdings

According to analyst Yashu Gola, on May 22, SpaceX plans a $75 billion IPO in June that could enter the Nasdaq-100 index within 15 trading days if its post-IPO valuation reaches $1.75 trillion to $2 trillion. According to SpaceX's latest S-1 filing, the company holds 18,712 BTC valued at approximately $1.45 billion. Combined with Tesla's 11,509 BTC holdings, Musk-owned companies would become significant Bitcoin asset holders within the Nasdaq-100.

Analyst Nic Puckrin warned that SpaceX's IPO could pose a "near-term risk" for tech stocks. Passive funds would need to buy SpaceX shares and sell existing constituents like Nvidia, Apple, and Microsoft following index rebalancing, potentially triggering a large fund rotation. With Bitcoin's 30-day correlation to the Magnificent Seven ETF currently at 0.81, BTC could face near-term pressure if tech stocks decline.