Kraken Launches Tokenized Access to SpaceX IPO
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- Kraken announced that SpaceX will be the first public offering available through its xStocks IPO Access platform, letting eligible users buy tokenized equity.
- IPO Access is limited to the European Economic Area and over 110 other markets, with participation barred in the US, Canada, Australia, and the UK for regulatory reasons.
- SPCXx tokens, issued to investors who receive an allocation, represent SpaceX shares on a 1:1 basis and can be traded 24/7 on Kraken and other xStocks venues.
- SpaceX plans to start public trading on June 12, aiming to raise roughly $75 billion at a valuation of at least $1.8 trillion, which would eclipse Saudi Aramco’s record IPO.
- Bloomberg reports that demand for the SpaceX IPO already exceeds the number of shares on offer, indicating strong investor interest.
Why it matters: Retail investors gain direct exposure to SpaceX’s $1.8 trillion IPO via 24/7 token trading, while traditional broker‑dealers lose a slice of the market; SPCXx tokens become a tradable asset tied to the IPO.
