Crypto traders wanted $1 billion in SpaceX shares. Tokenization could not deliver - Cryptopolitan

* Crypto traders used perpetual futures to gain early SpaceX price exposure without owning actual shares. * More than 7 million SpaceX contracts generated over $1.2 billion in Hyperliquid volume. * Ron Baron bought another $1 billion in shares, raising Baron Capital’s position to roughly $25 billion. At the time of its launch, the IPO had a value of about $2 trillion, closing higher than $2.1 trillion after its initial trading period. Close to 500 million shares were traded. SpaceX was listed at $150 and went up to as high as $176.52, ending up at $160.95. Banks were negotiating the terms of the deal amid speculations that the value was close to $175. Traders on the Hyperliquid exchange were buying and selling SpaceX futures worth close to $180 during opening bell. Right before the stock began trading at $150, those futures declined to about $153. Hyperliquid saw more than 7 million perp trades on Friday related to SpaceX, valued at over $1.2 billion.