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Bybit has opened subscriptions for tokenized SpaceX pre-IPO shares through its new IPO Express platform, giving eligible users access to SpaceX’s highly anticipated public offering without requiring a traditional brokerage account.
The launch gives retail investors access to IPO-priced tokenized equities, a structure that differs from earlier SpaceX products on crypto exchanges that relied on derivatives or valuation-linked contracts.
The offering is powered by xStocks, a tokenization platform developed by Payward Services, the parent company of Kraken. Registration and subscriptions opened on June 7 and run through June 11, while token allocations are scheduled between June 11 and June 12. Trading is expected to begin on Bybit’s spot market on June 12.
According to Bybit and xStocks, the tokenized shares are backed on a 1:1 basis with the underlying equity exposure. Bybit CEO Ben Zhou said the platform was working with xStocks and Kraken to provide what he described as a compliant method for participating in the SpaceX pre-IPO offering.
Bybit First IPO Express – SpaceX is Live nowhttps://t.co/iBxXCadlg3
Working exclusively with @xStocksFi and @krakenfx present you the most compliant method to participate in SpaceX pre IPO.
1=1 stock backed, compliant and secure. pic.twitter.com/dxzkpyFeGt— Ben Zhou (@benbybit) June 7, 2026
The timing coincides with strong investor interest in SpaceX’s public debut. Reuters reported on June 7, 2026, that investor demand had reached roughly $150 billion, about twice the $75 billion the company is seeking to raise.
The oversubscribed offering comes as crypto exchanges compete to expand beyond digital assets and capture demand for tokenized equity products. Access to high-profile IPOs has traditionally been concentrated among institutional investors, private banking clients and brokerage networks that receive allocations before public trading begins.
Bybit’s launch also follows Kraken’s recent decision to offer SpaceX IPO access to clients in more than 110 countries through the same xStocks infrastructure.
Bybit Launches IPO Express, Opens Tokenized SpaceX IPO Subscription via xStocks
Bybit has launched IPO Express, an on-chain equity offering product, and introduced a tokenized SpaceX IPO subscription in partnership with xStocks. Spot trading expected to begin on June 12. Bybit… pic.twitter.com/VsBMFqDnQE
— Wu Blockchain (@WuBlockchain) June 7, 2026
Social media attention around the listing intensified this week as Kalshi traders pushed Elon Musk’s odds of becoming the world’s first trillionaire to a record 96% ahead of the anticipated SpaceX IPO. The market also assigned an 89% probability that Musk reaches the milestone before the end of 2026 and projected his net worth at $1.34 trillion by year-end, fueling viral posts tied to SpaceX’s reported valuation.
The projections remain speculative, though they have become part of the broader narrative surrounding a listing that could value SpaceX at about $1.75 trillion. Participation also comes with limitations, as holders of tokenized shares do not receive voting rights or dividend entitlements under Bybit’s terms, even if the tokens track the underlying equity exposure.
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