Coinbase Launches Pre-IPO Perpetual Futures Trading, Starting with SpaceX

Jun 4, 2026

Coinbase launched perpetual futures trading for pre-IPO companies on June 4, 2026, starting with SpaceX ahead of its planned $75 billion IPO targeted for June 12, 2026. The product is unavailable to U.S. users and allows eligible traders to speculate on SpaceX's valuation 24/7 using USDC stablecoin settlement. Positions automatically convert when the IPO completes, with Coinbase planning additional listings in technology, AI, energy, and space sectors.

Coinbase pre-IPO perpetual futures launch

▪Coinbase launched a perpetual futures product for pre-initial public offering companies on June 4, 2026.
▪Brian Armstrong is co-founder and CEO at Coinbase.
▪Coinbase plans to announce more pre-IPO listings soon, including companies in technology, AI, energy, and space.
▪Coinbase's pre-IPO perpetual futures product is not available for users from the United States.

SpaceX trading details

▪The SpaceX pre-IPO perpetual futures on Coinbase are settled using the USDC stablecoin.
▪All positions in SpaceX pre-IPO perpetual futures on Coinbase will automatically translate when the IPO is complete.
▪SpaceX is the first company available for trading on Coinbase's pre-IPO perpetual futures product.
▪The SpaceX pre-IPO perpetual futures on Coinbase can be traded 24/7.

Elon Musk trillionaire milestone

▪Reuters reported that the SpaceX IPO is targeted for June 12, 2026.
▪Users on prediction market Myriad place a 91% chance on Elon Musk reaching trillionaire net worth before July 2026.
▪Forbes estimates that SpaceX's estimated IPO price of $135 per share would make Elon Musk the first-ever trillionaire.

Perpetual futures mechanics

▪Perpetual futures do not have an expiration date.
▪Perpetual futures allow traders to speculate on the direction of an asset via a long or short position without needing direct exposure to the underlying asset.

Pre-market trading risks

▪Traders in Coinbase's SpaceX pre-IPO perpetual futures could make massive profits or losses depending on the difference between the pre-IPO valuation and the debut stock price.
▪Prediction market Myriad is owned by Dastan, the parent company of Decrypt.
▪Pre-market prices are often inaccurate and extremely volatile as new information emerges.