Bybit Launches Tokenized SpaceX IPO Access
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bybit will provide tokenized access to SpaceX’s upcoming IPO via its xStocks IPO Access platform, available in over 110 markets but excluding the United States, Canada, Australia, and the United Kingdom due to regulatory restrictions.
- Kraken named SpaceX as the inaugural offering for its own xStocks IPO Access product, also limited to the same 110‑plus markets and barred from the US, Canada, Australia, and the UK.
- Coinbase launched a SpaceX pre‑IPO market a day earlier, offering eligible non‑US users exposure to the private‑market valuation through perpetual futures contracts.
- SpaceX filed a confidential IPO registration with the SEC in April after acquiring xAI, and Bloomberg reports the company is targeting a valuation of at least $1.8 trillion and a $75 billion raise, with demand exceeding available shares ahead of a planned June 12 public debut.
- SpaceX disclosed holdings of 18,712 Bitcoin in its May 20 S‑1 filing, making it one of the ten largest corporate Bitcoin holders, ahead of firms such as Coinbase and Riot Platforms.
Why it matters: Crypto platforms capture ultra‑wealthy demand for SpaceX’s record‑size IPO, expanding tokenized market access for non‑US investors while US‑based participants remain barred, intensifying the split between crypto‑enabled and traditional capital channels.
