Perpetual futures tied to SpaceX, offered on cryptocurrency exchanges, are surging amid demand for investment in unlisted companies. In June 2026, Binance held roughly 80 percent of the TradFi Equity Perpetual market, with SpaceX perpetual futures being the biggest driver of the volume spike. Beyond the growth theme of space exploration and Elon Musk's brand power, SpaceX has drawn interest from retail investors worldwide even before going public, and its affinity with crypto investors has fueled its popularity. This trend could spread to other unlisted companies such as OpenAI and Stripe, and XWIN sees it as a significant precursor to the broader adoption of real-world assets and tokenized securities. However, products linked to unlisted stocks carry risks of limited disclosure and price divergence, and it is important to note that they do not represent ownership of the underlying shares.
