PANews reported on April 25th that, according to CoinDesk, 2026 will see the largest wave of IPOs in history: SpaceX is expected to go public in June, raising $50-75 billion, potentially breaking Saudi Aramco's 2019 record of $29 billion; OpenAI and Anthropic plan to go public in the second half of the year, raising $30-60 billion and $60 billion respectively, with the three companies raising a total of over $240 billion.

Market analysts believe that this wave of mega-IPOs will draw massive amounts of liquidity from the same risk-on pool. Given the high correlation between mainstream crypto assets like BTC and ETH and the risk appetite of US tech stocks in recent years, institutional and high-net-worth funds may reduce their crypto holdings to subscribe to new shares, weakening buying support for BTC, ETH, and altcoins.