SpaceX Has Filed Confidentially For Its IPO: Report

SpaceX has reportedly submitted a draft initial public offering (IPO) registration to the U.S. Securities and Exchange Commission (SEC). According to Bloomberg, SpaceX is targeting a June listing with a valuation of more than $1.75 trillion, making it the largest IPO in history, surpassing Saudi Aramco‘s $29 billion debut in 2019. By filing confidentially, SpaceX can receive SEC feedback and make adjustments before its prospectus becomes public. According to previous reports, Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley have all secured senior roles on the deal. Citigroup is also among the banks preparing the IPO. International banks are also taking part in the process. Royal Bank of Canada, Mizuho Financial Group and Macquarie Group are all focused on managing shares from their respective locations. SpaceX is also reportedly considering a dual-class share structure that could give insiders, including Musk, outsized voting power over corporate decisions. Sources added that executives at Elon Musk's SpaceX plan to meet this month with prospective IPO investors. In February, Musk announced that SpaceX had acquired his artificial intelligence startup xAI. The transaction valued SpaceX at about $1 trillion and xAI at roughly $250 billion, reported Reuters. For more concentrated exposure, investors can target mutual funds and ETFs that disclose sizable positions in SpaceX. Baron Partners Fund (BPTRX) has turned an early, roughly 4% allocation in SpaceX into a massive position now representing about 32% of net assets after successive valuation markups. Sister strategy Baron Focused Growth Fund (BFGIX) lists SpaceX as a core holding at roughly 24.2% of assets, reflecting a similarly high‑conviction bet on launch and Starlink economics. On the venture side, ARK Venture Fund (ARKVX) holds SpaceX as its largest position, with allocations in the low‑teens percentage of assets, bundling the name with other private disruptors. The ERShares Private‑Public Crossover ETF (NASDAQ:XOVR) is the only U.S.‑listed ETF that explicitly holds SpaceX. Photo: Shutterstock