Cryptocurrency trade Bitget has launched IPO Prime, a proxy providing tied to the pre-initial public providing (IPO) section of Elon Musk’s aerospace manufacturing and area transportation firm, SpaceX.
Bitget stated Friday that IPO Prime will begin with preSPAX, a Republic-issued token designed to provide retail customers financial publicity tied to SpaceX’s post-IPO efficiency. The trade stated the product doesn’t give patrons direct possession of SpaceX shares, and that SpaceX has not endorsed, authorized or approved the providing.
The launch highlights how crypto exchanges are bringing extra conventional funding merchandise onto blockchain rails in a bid to draw customers with round the clock entry to belongings which have traditionally been more durable for retail buyers to succeed in.
The announcement comes as Bloomberg reported that SpaceX is claimed to have confidentially filed for an IPO, with valuation targets starting from $1.75 trillion to over $2 trillion, although the corporate has not publicly confirmed the transfer.
Bitget stated the providing will likely be accessible throughout all jurisdictions the place the trade is compliant, via a subscription-based mannequin the place customers can apply for allocations via a tiered construction.
Bitget stated the subscription window for preSPAX will run from April 18 to April 21, with distribution on April 21 and OTC buying and selling scheduled to start later that day. Gracy Chen, Bitget’s CEO, instructed Cointelegraph that VIP customers will obtain early entry via two unique pre-launch airdrop rounds forward of the broader rollout.
“Pre-IPO publicity was restricted to small circles, however tokenization has modified that, offering entry to conventional belongings that had been sometimes out of attain. preSPAX is our first providing and we will likely be bringing extra such alternatives to our customers this yr.”
Crypto-native corporations with related pre-IPO choices embrace Solana-based PreStocks, Orderbook and Republic. Opponents from conventional finance embrace Nasdaq Non-public Market, Hiive, Forge International and EquityZen.
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Bitget positions the pre-IPO platform as a “new route” to conventional finance alternatives and a part of the corporate’s “common trade” ambitions, looking for to convey extra TradFi belongings underneath tokenized wrappers.
Different giant cryptocurrency exchanges have additionally launched entry to TradFi funding merchandise in a bid to widen their investor base. In January, Vienna-based crypto trade Bitpanda stated it was increasing its providing to incorporate about 10,000 shares and exchange-traded funds (ETFs).
In April 2025, Kraken introduced the launch of 11,000 US-listed shares and ETFs with commission-free buying and selling in an effort to convey “equities and digital belongings collectively” underneath one buying and selling platform, as a part of a “phased nationwide rollout.”
Coinbase trade additionally launched inventory buying and selling on the finish of 2025 and rebranded its pockets app as an “all the pieces app,” as step one to allow 24/7 buying and selling of shares and ETFs together with crypto belongings.
Crypto analysis agency Delphi Digital referred to as the phenomenon the “tremendous app” race, predicting an “aggregation period” for the crypto business, as worth shifts from protocols to platforms with essentially the most customers and buying and selling merchandise.
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