SpaceX is reportedly preparing for a public listing at a valuation above $1.5 trillion, setting the stage for what could become the largest IPO in history and further strengthening Elon Musk’s position among the world’s wealthiest figures.

The company confirmed its plans in a newly filed S-1 registration statement with the U.S. Securities and Exchange Commission, giving investors an early detailed look at one of the most valuable private firms ahead of an expected IPO that could arrive as soon as next month.

The filing reveals that SpaceX held 18,712 Bitcoin (BTC) as of March 31, valued at approximately $1.29 billion at the time. With Bitcoin trading near $77,000, those holdings would now be worth roughly $1.45 billion. The company joins a small group of major corporations with meaningful Bitcoin exposure, including Tesla, which holds 11,509 BTC, and Strategy, which remains the largest corporate holder with 843,738 BTC.

SpaceX is reportedly targeting a valuation north of $1.5 trillion, with some estimates placing it as high as $2 trillion. At that level, it would rank among the most valuable public companies globally alongside Apple, Microsoft, and Nvidia, and could surpass Saudi Aramco’s 2020 IPO, which raised $29.4 billion at a valuation of about $1.7 trillion.

Investor demand is expected to be strong, driven by SpaceX’s dominant position in commercial space launch services and the rapid expansion of its Starlink satellite internet network. The company has built its lead through reusable rocket technology and a fast-growing global satellite infrastructure.

The S-1 filing also provides rare visibility into SpaceX’s financials, including revenue growth, capital spending, risk disclosures, and ownership structure. Investors are closely watching governance details, particularly the level of control Elon Musk will retain after the company goes public. The filing shows revenue increasing to $18.7 billion in 2025, up from $14 billion in 2024.

SpaceX also highlighted artificial intelligence as part of its long-term strategy, describing it as a potential “trillion-dollar market opportunity” alongside its core aerospace and communications businesses.

Musk, who already leads Tesla, xAI, and X, is expected to remain CEO, Chief Technical Officer, and Chairman following the listing, making the IPO one of the most anticipated tech market debuts in years.

Meanwhile, SpaceX is not alone in heading toward the public markets. OpenAI and Anthropic are also reportedly exploring IPOs, increasing the possibility of multiple high-profile tech listings arriving in close succession.

If that scenario plays out, analysts suggest capital could rotate into these new equity offerings, potentially drawing liquidity away from risk assets such as cryptocurrencies as investors reposition into high-profile public market debuts.