Bybit Enters SpaceX IPO With Tokenized Share Access

TLDR

• Bybit launched IPO Express ahead of SpaceX’s $75B public listing on June 12.
• Eligible retail users can subscribe to tokenized shares from June 7 to 11.
• Allocation will occur on June 11 and 12, with spot trading starting June 12.
• The service runs on xStocks infrastructure provided by Payward Services.
• SpaceX targets a $1.75 trillion valuation in one of the largest IPOs.

Bybit has launched a new IPO access service tied to the upcoming SpaceX public listing. The Dubai-based exchange will allow eligible retail clients to subscribe to tokenized equity during the offering window. The move places Bybit in direct competition with traditional brokerages and expands its services beyond digital asset trading.

Bybit Expands Access to Tokenized U.S. Stock IPOs

Bybit introduced its IPO Express platform ahead of SpaceX’s planned $75 billion listing on June 12. The exchange said retail investors worldwide can subscribe to tokenized representations of publicly traded shares during the registration window. The subscription period runs from June 7 to June 11, while allocation will take place on June 11 and June 12.

Bybit confirmed that the tokenized shares will begin spot trading on June 12 following allocation. The company stated that its service allows users to purchase shares at IPO pricing outside the secondary market. “For Bybit customers, it is the first time cryptocurrency exchange users can purchase shares at IPO pricing,” the press release said.

The exchange said Payward Services powers the offering through its xStocks infrastructure. Payward is the parent company of Kraken, which recently announced similar tokenized IPO access for its clients. Kraken plans to extend participation to members of its xStocks alliance for U.S.-listed offerings.

SpaceX Listing Highlights Exchange Competition

Elon Musk’s SpaceX plans to raise $75 billion at a $1.75 trillion valuation. The valuation would rank the offering among the largest public listings on record. Bybit stated that eligible participants must meet retail criteria set by its platform guidelines.

Other crypto exchanges have previously offered pre-IPO markets using derivative products. Binance, Bitget, and Gate provided prediction-based instruments tied to expected company valuations. However, those products did not represent actual share ownership and instead reflected price speculation.

Bybit said its structure relies on regulated blockchain infrastructure developed by xStocks. The exchange stated that holders of tokenized listed stocks can access extended trading hours and crypto-native settlement. It also said users can integrate holdings with decentralized finance tools where permitted.

The company emphasized that its focus remains on providing retail access to high-profile public listings. Registration for the SpaceX IPO closes on June 11, followed by allocation and trading activation on June 12.

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