OpenAI · SpaceX · China · Hong Kong · OKX · Crypto Briefing
Chinese investors turn to digital bets for exposure to US tech IPOs
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Locked out of SpaceX and OpenAI offerings by export controls, mainland investors are flocking to crypto derivatives as a workaround.
Key facts
- SpaceX’s IPO, targeting a valuation of roughly $1.78 trillion and set for May 2026, explicitly excludes investors from mainland China and Hong Kong
- OKX followed suit on May 6, 2026, announcing perpetual futures for implied valuations of OpenAI, SpaceX, and Anthropic
- In mid-May 2026, decentralized exchange Hyperliquid launched pre-IPO perpetual futures contracts for SpaceX under the ticker SPCX
- These contracts reference an implied valuation north of $1.78 trillion and trade around the clock, seven days a week
Summary
When the world’s most anticipated tech IPO tells an entire country’s investors they can’t participate, those investors tend to get creative. SpaceX’s IPO, targeting a valuation of roughly $1.78 trillion and set for May 2026, explicitly excludes investors from mainland China and Hong Kong. In mid-May 2026, decentralized exchange Hyperliquid launched pre-IPO perpetual futures contracts for SpaceX under the ticker SPCX. OKX followed suit on May 6, 2026, announcing perpetual futures for implied valuations of OpenAI, SpaceX, and Anthropic.