by Coinstrooper Crypto Articles
Quick Take
  • Pre-IPO perpetual futures volume on crypto exchanges reached roughly $12 billion in June, a 6,000-fold jump from March.
  • The notable growth came as traders chased exposure to technology giants.
  • Pre-IPO perpetual futures let traders speculate on private companies before their shares reach public markets.
  • The contracts track expected valuations without the ownership of shares.

What Happened

“This growth coincides with increased market interest in Pre-IPO perpetuals including SpaceX, OpenAI and Quantinuum, as well as the launch of additional equities offerings on crypto platforms,” the report read.

Notably, several private companies have gone public in June. Quantinuum listed on Nasdaq under the ticker QNT on June 4. SpaceX followed on June 12, trading under the ticker SPCX. OpenAI has not set an IPO date. However, the company filed a confidential S-1 with the SEC.

Market Context

Pre-IPO perpetual futures volume on crypto exchanges reached roughly $12 billion in June, a 6,000-fold jump from March.

Pre-IPO perpetual futures let traders speculate on private companies before their shares reach public markets. The contracts track expected valuations without the ownership of shares.

Volume in these products climbed from $2 million in March to $715 million in May, according to CryptoQuant data. June then pushed the figure to about $12 billion.

Consequently, pre-IPO contracts accounted for 55% of all perpetual equity trading on crypto exchanges in June. That share stood at just 5% in May.

Binance Captures 83% of Pre-IPO Perpetuals Market in June Boom

Meanwhile, CryptoQuant data shows Binance leading the segment by a wide margin. The exchange recorded $10.3 billion in pre-IPO perpetual volume in June. That figure marks a 20-fold increase over its May total.

Binance now holds an 83% share of all pre-IPO perpetual trading. Bitget trails in second place with $1.3 billion in June volume.

The post Pre-IPO Perpetual Trading Grows 6,000x Since March on Tech Bets appeared first on BeInCrypto.

Why It Matters

The notable growth came as traders chased exposure to technology giants.

Pre-IPO Perpetuals Now Drive 55% of Crypto Equity Trades

Details

Pre-IPO products form part of a wider push to trade traditional assets on crypto rails. Exchanges have added oil, metals, and equity perpetuals.

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