1137 ET - Anticipation over the SpaceX IPO, and others expected from OpenAI and Anthropic, is seen as prompting outflows from bitcoin ETFs, on the theory that capital is moving back to more explosive assets. "We think the speculation has some teeth," says Colin Basco of Coinbase Institutional in a note, adding that the SpaceX IPO is competing "directly for the same pool of risk capital that funds speculative assets like crypto." Still, Basco admits "there is no clean way to trace a dollar from a redeemed bitcoin ETF into a SpaceX allocation." Bitcoin is up 0.8% to $63,860, according to LSEG data. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
June 12, 2026 11:37 ET (15:37 GMT)
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