SPCXB Holds Near $209 as BingX Completes Pre-IPO Delivery, Russell Adds SPCX June 18

SPCXB News

BingX confirmed it has fully completed the token distribution for its SpaceX Pre-IPO airdrop, with eligible participants receiving the SpaceX Pre-IPO RWA token on schedule. The token is a tokenized real-world asset issued on blockchain rails, designed to mirror exposure to one of the world's most closely watched private companies. Spokesperson Pablo Monti said the smooth completion strengthens confidence in the platform as a reliable gateway to emerging investment opportunities, emphasizing a simple, transparent and user-centric model. BingX, which serves more than 40 million users globally and ranks among the top five derivatives venues, signaled it will expand its Pre-IPO lineup further, including products tied to OpenAI and Anthropic.

Michael Burry, the investor portrayed in The Big Short, revealed he was tempted to short SpaceX shares but ultimately walked away because the put options were too expensive. Writing on June 16, Burry said he is neither long nor short the stock, dismissing rumors that he had already opened a position. He pointed to roughly $2.8 trillion in market value against under $20 billion in annual revenue, describing SpaceX as little more than a small space company, a niche telecom and a troubled social-media business with a light layer of AI compute. Burry added he would wait for implied volatility to deflate before considering any bear-market style position.

A new 8-K filing submitted to the SEC on June 15 laid out SpaceX's post-listing growth priorities, naming artificial-intelligence computing, launch systems and satellite capacity as primary investment areas. The official filing states that net IPO proceeds will fund expanded AI compute infrastructure alongside upgraded rockets and a larger satellite constellation. It also confirmed sweeping governance changes: more than 103 million preferred shares converted into Class A and Class B stock, cementing a dual-class structure in which high-vote holders elect a board majority. The record IPO priced 638.9 million Class A shares at $135 each after underwriters exercised their overallotment option.

Rather than a single 180-day cliff, SpaceX adopted a rare tiered lockup that spreads insider selling across roughly 18 months. The S-1 outlines an initial 20% unlock after Q2 earnings in late July or early August, a conditional 10% bonus tranche if SPCX holds above $175.50, rolling 7% batches through the third quarter, and a roughly 28% release around Q3 results. The full remaining lockup expires December 8, the 180th day, widely viewed as the heaviest single supply event. Elon Musk's personal 6.4 billion shares stay locked until June 12, 2027, with the filing barring any early release under any circumstances.

The options market is pricing sharp disagreement over SpaceX's trajectory. Brokerage data puts the probability of a further 50% gain within three months near 15%, while the odds of a 50% collapse sit around 13%, leaving both tails richly priced. SPCX ranked fifth across the entire market for call volume on its first options session, signaling intense speculative and hedging demand at once. Strategists noted that large trades increasingly look like hedges against future share supply once lockups expire, with tail risk too costly to buy yet too dangerous to sell. The shares had already gained roughly 50% from the $135 offer after an all-time high near $225.

Three major index providers moved to fast-track SpaceX into their benchmarks within weeks of its debut. FTSE Russell will add the stock to the Russell 1000 and Russell Top 200 at the June 18 close, with markets estimating $10 billion to $16 billion in passive buying that day. MSCI is expected to follow around June 26-29, and the Nasdaq 100 could include it in early July, with combined passive inflows estimated near $30 billion. The decisions drew pushback over SpaceX's dual-class shares, as pension officials and lawmakers questioned forcing index funds into a founder-controlled company. The S&P 500 declined to waive its one-year listing requirement.

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $205.89 support at 64/100 (strong), driven by the confluence of the daily Pivot Point, Point of Control and the prior-day close, with deeper support at $185.21 scored 62/100 via the Fibonacci 0.618 retracement and POC. On the upside, the engine scores $229.94 resistance at 58/100 from the Fibonacci 0.000 marker, prior-day high and Donchian upper band, with nearer resistance at $212.07 rated 57/100. With SPCXB trading around $209 and up 5.36%, a sustained reclaim of $212 opens the path toward $230, while a daily close below $205.89 invalidates the bullish thesis. A market-wide Fear & Greed reading of 22 (Extreme Fear) tempers conviction.