- Bitget has launched IPO Prime, introducing a SpaceX-linked token offering synthetic pre-IPO exposure without equity ownership.
- The preSPAX token mirrors potential post-listing performance, with access via a limited subscription and OTC trading rollout.
- The move reflects a wider trend of crypto platforms integrating traditional finance products to expand retail access.
Bitget has rolled out IPO Prime, a new initiative that blends cryptocurrency infrastructure with pre-IPO investment exposure, beginning with a token linked to SpaceX. The product, known as preSPAX, has been issued by Republic and is structured to reflect the company’s potential market performance after a future public listing.
The token does not grant any ownership or legal claim over SpaceX, nor does it provide voting rights, with the company having no involvement in the offering. Instead, it is designed to mirror economic outcomes tied to the company’s valuation once it reaches a liquidity event such as an IPO.
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A Short Window for Early Exposure
Access to the token will be offered through a subscription process running from 18 April to 21 April, followed by distribution and the start of over-the-counter trading. Participation will be structured through a tiered allocation system, with certain users receiving earlier entry.
The timing aligns with reports that SpaceX has confidentially filed for an IPO, with projected valuations ranging from US$1.75 trillion (AU$2.54 trillion) to over US$2 trillion (AU$2.90 trillion). The company is also said to be targeting a significant capital raise that could exceed US$75 billion (AU$108.75 billion).
Bitget’s launch highlights an ongoing shift as crypto exchanges incorporate traditional financial instruments into their platforms, aiming to provide continuous trading access and broaden participation in previously restricted markets.
Related: Bitget’s Australian Promotions Draw Attention After Regulatory Notice
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