Cryptocurrency exchange Bitget has introduced IPO Prime, a new offering tied to the pre-initial public offering phase of Elon Musk’s aerospace company SpaceX.
The platform said Friday that IPO Prime will debut with preSPAX, a token issued by Republic that aims to give retail users economic exposure linked to SpaceX’s potential post-IPO performance. Bitget emphasized that the product does not provide direct ownership of SpaceX shares and that the company has not endorsed or authorized the offering.
The move reflects a broader trend of crypto exchanges bringing traditional financial products onto blockchain infrastructure, offering users round-the-clock access to opportunities that have historically been difficult for retail investors to access.
The announcement follows reports that SpaceX recently confidentially filed for an IPO with the US Securities and Exchange Commission. According to sources cited by Bloomberg, the listing could be finalized as early as June 2026, with valuation discussions reportedly exceeding $1.75 trillion.
Bitget said the offering will be available in all jurisdictions where it operates in compliance, using a subscription-based model that allows users to apply for allocations through a tiered system.
The exchange added that the subscription window for preSPAX will run from April 18 to April 21, with token distribution scheduled for April 21 and over-the-counter (OTC) trading set to begin later that day.
Bitget CEO Gracy Chen told Cointelegraph that VIP users will receive early access through two exclusive pre-launch airdrop rounds ahead of the wider release.
“Pre-IPO exposure used to be limited to small circles, but tokenization has changed that, providing access to traditional assets that were typically out of reach. preSPAX is our first offering and we will be bringing more such opportunities to our users this year.”
Crypto-native platforms offering similar pre-IPO exposure include Solana-based PreStocks, Orderbook, and Republic, while traditional finance competitors include Nasdaq Private Market, Hiive, Forge Global, and EquityZen.
Exchanges push toward “universal” trading platforms
Bitget framed its pre-IPO offering as a “new route” into traditional finance, aligning with its broader ambition to become a “universal exchange” that integrates tokenized versions of traditional assets.
Other major crypto exchanges are pursuing similar strategies to expand their user base. In January, Vienna-based Bitpanda announced plans to add around 10,000 stocks and exchange-traded funds (ETFs) to its platform.
In April 2025, Kraken rolled out access to 11,000 US-listed stocks and ETFs with commission-free trading, aiming to unify equities and digital assets within a single platform as part of a phased national launch.
Coinbase has also moved in this direction, introducing stock trading in late 2025 and rebranding its wallet as an “everything app” to support 24/7 trading across both traditional and crypto assets.
Crypto research firm Delphi Digital has described this trend as a “super app” race, forecasting an “aggregation era” in which value increasingly concentrates in platforms offering the widest range of products and the largest user bases.
