SpaceX has entered a new phase in 2026. After years as one of the world’s most closely watched private companies, the aerospace giant moved into public markets, creating a completely different trading environment around its stock. That change has also made SPCX/USDT a closely watched derivative market for traders looking to speculate on SpaceX price movements with USDT.
Recent trading has been particularly active. SpaceX shares recently climbed to around $149.74, briefly moving above the $150 level and pushing the company back into the $2 trillion market-capitalization group. The move has highlighted just how quickly sentiment around the company can change.
SPCX/USDT Moves From Pre-IPO Trading to a Public-Market Contract
The story of SPCX USDT started earlier in 2026. In May, Bitget introduced SPCXUSDT as a pre-IPO perpetual contract linked to SpaceX. The product gave traders an opportunity to speculate on SpaceX valuation before its public listing, with 24/7 trading, USDT settlement, and leverage of up to 5x at launch.
But things changed quickly.
SpaceX's estimated share count was updated from 11.87 billion shares to 13.08 billion shares in its latest prospectus. Bitget subsequently temporarily delisted and relisted the contract in June, repricing it to reflect the updated fundamental data. That was an important adjustment because changes in estimated shares outstanding can materially affect the implied value represented by a derivative contract.
Then came the bigger transition.
Once SpaceX began regular public trading, Bitget moved SPCX USDT from its synthetic pre-market setup toward a regular USDT-margined perpetual structure using a weighted index based on spot-market prices. This made the contract more closely connected to the publicly traded SPCX market rather than relying solely on pre-IPO valuation assumptions.
What Traders Are Watching Now
For traders interested in tokenized stock exposure through perpetual contracts, the SPCX USDT pair on Bitget provides a way to trade price movements linked to the S&P 500 index. As a USDT-margined perpetual, it allows long or short positioning with flexible leverage, making it suitable for traders who want macro-level equity exposure without leaving the crypto exchange environment. The page includes real-time funding rates, order book depth, and position management tools.
Important clarification: SPCXUSDT is actually linked to SpaceX (SPCX), not the S&P 500 index. It is a derivative contract tracking SpaceX-related price movements. Bitget describes it as a USDT-margined perpetual tied to publicly traded SpaceX shares, rather than an S&P 500 product. It also does not provide direct ownership, voting rights, dividends, or physical delivery of SpaceX shares.
That distinction matters. A trader buying or shorting SPCXUSDT is trading a derivative, not purchasing the underlying company stock.
Recent Price Action Shows Strong Interest
The latest market action has been notable. Bitget's SPCXUSDT market data recently showed a 24-hour range between approximately $132.54 and $149.45, with more than 1.6 million SPCX in reported 24-hour quantity and roughly $232 million in USDT turnover. The contract was also showing a slightly negative funding rate in the available market snapshot.
Meanwhile, SpaceX itself recently returned above a $2 trillion valuation as its share price jumped more than 6% in one session. That recovery has helped reinforce the idea that SpaceX is no longer simply an aerospace story. Investors are increasingly watching its satellite business, artificial intelligence ambitions, computing infrastructure and broader technology strategy.
And that creates volatility. Sometimes a lot of it.
AI Is Becoming a Major SpaceX Market Catalyst
One of the biggest themes surrounding SpaceX in the second half of 2026 is artificial intelligence. The company is reportedly planning a major expansion of computing infrastructure, with plans to increase computing capacity significantly over the coming years. Analysts have argued that this could give SpaceX another major growth engine beyond rockets and satellite communications.
Partnerships are adding to that narrative as well. Recent reports have highlighted SpaceX's growing relationship with Nvidia and its plans involving large-scale AI computing infrastructure. These developments can influence investor expectations about future revenue, capital requirements and valuation.
For SPCX/USDT traders, these announcements can become short-term catalysts. A major Starlink development, launch result, AI contract or financial update may quickly affect sentiment.
Leverage Makes the Market More Sensitive
Another important development is the expansion of leverage parameters. Bitget adjusted SPCXUSDT position tiers in June, with some smaller position levels eligible for leverage as high as 100x. Larger positions receive lower leverage limits under the tiered structure.
That flexibility can be attractive to experienced traders, but it also increases the potential downside.
A relatively small move in SpaceX's underlying price can produce a much larger percentage change in a leveraged position. Funding payments, spread, slippage and liquidation risk all need to be considered before opening a trade.
SPCX/USDT Outlook for the Rest of 2026
The SpaceX market story is still developing. The company has only recently entered public trading, meaning investors and traders are still working out how to value its combination of aerospace operations, Starlink, AI infrastructure and future projects.
For SPCX/USDT, that creates an unusual market environment. There is a real underlying public share price now, but the perpetual contract trades continuously and allows both long and short exposure. That combination can produce sharp moves outside traditional stock-market hours.
The key catalysts going forward will likely include SpaceX financial results, Starlink expansion, major launches, government contracts, AI infrastructure spending and broader technology-market sentiment.
In short, SPCX/USDT has moved far beyond its original pre-IPO narrative. It is now part of a much larger public-market story around SpaceX. With the company recently pushing back toward the $150 share-price area and the $2 trillion valuation mark, traders will be watching closely to see whether momentum continues—or whether elevated expectations create another sharp pullback.