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Crypto traders chased $1 billion in SpaceX shares and tokenization fell short

Crypto traders chased $1 billion in SpaceX shares and tokenization fell short

Crypto traders poured money into products tied to Elon Musk’s rocket and satellite business SpaceX (NASDAQ: SPCX), but blockchain markets still could not give them the same thing Ron Baron bought: $1 billion worth of SPCX.

The public debut created a funny split, as traditional investors received shares while crypto users received price exposure through perpetual futures, which were supposed to track the listing closely, yet they sadly did not turn token holders into owners of SPCX.

At the time of its launch, the IPO had a value of about $2 trillion, closing higher than $2.1 trillion after its initial trading period. Close to 500 million shares were traded.

SpaceX was listed at $150 and went up to as high as $176.52, ending up at $160.95….

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