Bybit to Launch Retail Tokenized IPO Access for SpaceX Using xStocks
Bybit’s Tokenized IPO Offering: Key Details and Market Impact
June 7 (Reuters) - Cryptocurrency exchange Bybit said it will offer retail investors access to tokenized initial public offerings (IPOs) at the offering price, starting with SpaceX as its first offering.
How Bybit’s Tokenized IPO Access Works
Here are some details:
Subscription Process via xStocks
• Bybit users via Payward's xStocks, a tokenization platform, can subscribe to tokenized representations of publicly traded equities.
SpaceX IPO Timeline and Trading
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• For the SpaceX offering, registration and subscription will run from June 7 to June 11, 2026, with allocations to be finalised between June 11 and June 12. Tokenized shares are expected to begin trading on Bybit’s spot market from June 12.
Benefits for Retail Investors
• Users will be able to purchase shares at IPO pricing bypassing secondary market competition without the need to open or maintain traditional brokerage accounts.
Market Context and Competitive Landscape
SpaceX IPO Demand
• SpaceX, which began its roadshow last week, has drawn investor demand of about $150 billion for its IPO, about double the $75 billion it is seeking to raise, said two people familiar with the matter on Friday.
Other Exchanges and Industry Trends
• Cryptocurrency exchange Kraken said this month it had opened SpaceX IPO access to clients in more than 110 countries via xStocks.
Outlook for the U.S. IPO Market
• Wall Street is betting 2026 could be a breakout year for the U.S. IPO market, underpinned by a strong pipeline of high-profile private companies and pent-up demand for new listings.
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Reporting
(Reporting by Preetika Parashuraman in Bengaluru)
