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Missed SpaceX Underwriting Becomes Unique Boon: JPMorgan or Wall Street’s Biggest Independent Short Sale Channel

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SpaceX announced its IPO underwriters on June 3, and JPMorgan is notably absent from the list. But bearish investors and some JPMorgan senior executives see this as a rare opportunity. Insiders report that hedge funds which skipped SpaceX’s IPO are reaching out to JPMorgan to inquire about shorting SpaceX shares after the company’s market debut. As the largest U.S. investment bank not involved in SpaceX’s IPO, JPMorgan now holds a unique advantageous position to arrange these trades. A total of 23 banks are part of SpaceX’s IPO, covering most of Wall Street’s major firms. SpaceX’s IPO is scheduled for June 12, with the stock ticker SPCX. The company set its initial public offering (IPO) price at $135 per share, plans to issue roughly 5.556 billion shares, and aims to raise up to $75 billion—valuing SpaceX at around $1.75 trillion. If successful, it would rank among the largest IPO projects in global capital market history. Currently on Trade.xyz, SPCX’s pre-IPO price is listed at $189, corresponding to a post-listing valuation of $2.25 trillion—a 28.5% premium over its IPO price.
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「Stock God」 Serenity's Recent Views: Neocloud Track Most Confidence in NBIS, Focus on Europe's Top Three Silicon Photonics Leaders

June 4 update: "New Stock God" Serenity’s latest public insights and investment targets are outlined below: ### NBIS (Nebius) Serenity labels Nebius the "top pick in the neocloud space" and calls it the "single purest asymmetric opportunity in AI infrastructure." As of June 2026, NBIS shares have jumped from ~$84 (last year) to $260, with a market cap of $660B. Serenity maintains a long-term bull case for NBIS to breakout above $1T. NBIS ranks #1 in the neocloud segment, outpacing rivals like IREN and CRWV. Key strengths: it avoids common industry pain points—no lack of full-stack execution confidence, no high-interest debt, and scalable revenue visibility from large customer contracts. Additionally, NBIS is part of NVIDIA’s investment portfolio and a Q1 holding in Leopold Aschenbrenner’s fund, signaling top-tier capital alignment. ### Google AI CapEx Upstream Ecosystem (LITE, AVGO, MediaTek, TSM, MU) Alphabet (Google’s parent) announced an $800B AI CapEx financing package—including

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Funds in the US stock market have reached a historically extreme level of divergence, with the technology sector continuing to attract significant funding while all other sectors experience severe capital outflows.

June 4th – Since the S&P 500 index hit a temporary low on March 30, the U.S. technology sector ETF has seen a cumulative net inflow of $27 billion, while all other sectors combined posted a net outflow of $4 billion over the same period—marking a historic level of fund divergence. Starting in mid-April, the inflow rate into tech funds tripled, with the Nasdaq 100 ETF (QQQ) alone attracting $15 billion between April and May. Meanwhile, the financial and healthcare sectors posted record outflows, as investors place unprecedented bets on the technology sector.

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U.S. Treasury Secretary Reveals Strategic Bitcoin Reserve Plan Is Advancing at a Cautious Pace

June 4 — U.S. Treasury Secretary Janet Yellen announced during a Senate Banking Committee hearing that the Treasury Department is advancing its planned strategic Bitcoin reserve with “deliberate speed.” The initiative stems from a prior executive order issued by former President Donald Trump, and the reserve would be funded primarily by Bitcoin seized by the government through criminal or civil forfeiture cases. Yellen noted the process is complex, but the Treasury will follow best practices to ensure the reserve’s long-term stability. In April, the White House’s digital asset advisory team signaled there would be a significant upcoming announcement related to this plan, though no further developments have emerged since that time.

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The Vanguard S&P 500 ETF Becomes the First Trillion Dollar ETF in History

June 4 – Vanguard’s S&P 500 ETF (VOO), the world’s largest exchange-traded fund, officially crossed the $1 trillion assets under management (AUM) milestone, becoming the first ETF in history to hit that trillion-dollar mark. Driving this achievement, VOO posted a $1.7 billion net inflow on its most recent trading day, with year-to-date inflows totaling over $69 billion—catapulting its size well beyond all competing ETFs. The milestone comes as the S&P 500 Index notches an 11% gain so far this year, repeatedly hitting fresh all-time highs. Even amid elevated market volatility, demand for passive buy-and-hold investment allocations remains robust.

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The U.S. stock market continued to decline during intraday trading, with the Nasdaq falling over 1%. Hedge fund manager Huang Renxun's recommended stock, MRVL, saw its gains narrow to 4.6%.

June 4 (per Bitget market data): US stocks extended intraday losses—Nasdaq down over 1%, S&P 500 off 0.7%, Dow Jones Industrial Average dropping 0.9%. The semiconductor sector opened higher but trimmed its gains to under 0.8%. Cathie Wood’s Marvell Technology Group (MRVL) saw its advance narrow to 4.6%, while Nvidia (NVDA) slumped more than 3%. Crypto-linked stocks took a sharp beating: MicroStrategy (MSTR) fell 4.3%; Coinbase (COIN) dropped 5.2%; Circle (CRCL) declined 8.5%; BitMine Immersion (BMNR) slid 5.9%.

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Bitcoin Falls Below $66,000, 24-hour Decline of 1.92%

HTX market data shows Bitcoin dipped below $66,000 on June 4th, marking a 1.92% price decline over the past 24 hours.

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