Cryptocurrency exchange Bitget has introduced IPO Prime, a tool for trading tokenized assets of companies prior to their public listings. The first asset is preSPAX, linked to SpaceX shares, as announced in a press release.

This product is developed in collaboration with the investment platform Republic, which specializes in the tokenization of private company assets.

IPO Prime operates on a subscription model: users submit applications for token distribution. Limits vary based on account level, with VIP clients receiving higher quotas. Once the subscription period ends, the assets transition to an over-the-counter market within the platform with continuous pricing.

The preSPAX token reflects the economic dynamics of SpaceX following a potential IPO. Elon Musk's aerospace company filed a confidential application for public status in early April 2026. According to analysts' estimates, its valuation could exceed $2 trillion.

The total subscription volume is 94,000 tokens priced at $650 each (totaling $61.1 million). The asset is issued by a regulated entity and is linked to SpaceX shares at a 1:1 ratio after the company goes public. However, preSPAX does not confer direct ownership of the shares, and SpaceX has neither approved nor authorized the product.

“Since the inception of financial markets, access to pre-IPO opportunities has been limited. IPO Prime allows users to participate in the growth of companies at an earlier stage with the possibility of continuous trading. This is part of our strategy to build UEX and democratize access to financial opportunities,” said Bitget CEO Gracy Chen.

The launch of IPO Prime continues Bitget's strategy of creating a universal exchange, which integrates crypto assets, tokenized securities, and traditional financial instruments on a single platform.

Key Dates

  • April 13 — first round of airdrop of preSPAX for VIP users;
  • April 18 — subscription opens;
  • April 21 — subscription ends, trading begins, and token distribution occurs.

For more details about the product, visit the SpaceX IPO Prime page.

As a reminder, on April 13, Bitget will host the Bitget x ArbitrageScanner Pre-Party — a closed meeting for cryptocurrency market participants ahead of the Blockchain Forum 2026 conference in Moscow.