Whale Places $203M Short Order on Tokenized SpaceX Shares

A whale initiated a $203M limit short on SPCX between $141.93-$142.90, following recent volatility and high trading volumes on Gate.

Woofun AI reports that a large trader placed a limit short selling order valued at approximately $203 million on SPCX, the tokenized representation of SpaceX shares. The order specifies a price range of $141.93 to $142.90, indicating an expectation of price decline.

SPCX trading volume on Gate reached roughly $700 million over two days in early August, with $332 million transacted on August 4th alone. Activity centered on 911.5 million shares becoming available on August 6th. Following that date, SPCX increased by 6.1% to close at $114.92. SEC filings indicate Elon Musk holds 48.4% of beneficial interests, equating to over 6.4 billion shares valued above $900 billion, while controlling more than 82% of voting rights via Class B shares.