A growing corner of the crypto market is already betting on SpaceX’s potential IPO, with traders piling into perpetual futures tied to the company’s expected public debut.

How Traders Are Betting On SpaceX Before IPO

The synthetic contracts, launched earlier this month, are averaging nearly $18 million in daily trading volume over the past two weeks as speculation around what could become the largest IPO in history accelerates, Bloomberg reported on Friday.

Unlike traditional equities, these perpetual futures do not give holders legal ownership of SpaceX shares.

Instead, traders use them to speculate on where the company could price once it eventually goes public.

Whether the pricing proves…

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