Cryptocurrency exchange Bybit officially launched its IPO Express platform on June 7, allowing retail investors to purchase tokenized equity in SpaceX. The rollout precedes the aerospace manufacturer’s anticipated public offering scheduled for June 12. SpaceX is currently targeting a market valuation between $1.75 trillion and $2 trillion ahead of the debut.
The tokenized subscription window remains active from June 7 through June 11, with all share allocations distributed on a pro-rata basis, according to the official Bybit announcement detailing the tokenized IPO access mechanics. Bybit integrated Payward Services’ xStocks infrastructure to process the retail demand without requiring traditional brokerage accounts.
Alongside the spot equity allocations, Bybit introduced the SPCXUSDT pre-IPO perpetual contract. This derivatives product allows traders to speculate on the final SpaceX valuation using up to 10x leverage prior to the formal market listing.
How the $75 Billion SpaceX Target Rewrites Capital Market History
SpaceX aims to raise approximately $75 billion through its upcoming public offering. This capital objective surpasses the previous global record of $29.4 billion set by Saudi Aramco in 2019, making the SpaceX debut the largest initial public offering in capital market history.
Bybit’s decision to list tokenized SpaceX shares directly challenges traditional institutional book-runners who typically reserve early equity access for high-net-worth clients. The strategy also places Bybit in direct competition with cryptocurrency exchange Kraken, capitalizing on established xStocks compliant infrastructure to capture retail capital flow before the traditional opening bell on June 12.