MarketsShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailBybit Takes on Wall Street with Innovative Tokenized U.S. Stock IPOs
Retail investors can now purchase shares at official underwritten prices through the crypto exchange, bypassing Wall Street’s exclusive pre-IPO clubs.
By Olivier Acuna|Edited by Jamie Crawley Jun 8, 2026, 11:34 a.m. 2 min readMake preferred on
Bybit is among the first crypto exchanges to provide tokenized shares for IPOs, initiating with SpaceX this week. (Official SpaceX Photos/flickr)Key Details:
- Bybit has introduced its IPO Express service, giving tokenized access to SpaceX's eagerly awaited public offering, making it the second crypto exchange after Kraken to offer such services.
- In contrast to previous pre-IPO derivatives from Binance, Bitget, and Gate, Bybit allows qualified retail investors to subscribe to tokenized versions of actual publicly traded stocks at IPO prices.
- The registration period for the SpaceX IPO on Bybit extends from June 7 to 11, with token allocations and trading commencing on June 11 and 12, as SpaceX aims to raise $75 billion at a valuation of $1.75 trillion.
Bybit, now the second-largest crypto exchange globally in terms of trading volume, is entering the tokenization market to take advantage of the highly anticipated public listing of SpaceX this week with its new Bybit IPO Express service.
This Dubai-based platform follows Kraken in offering tokenized initial public offerings (IPO) as announced by its parent company Payward, which plans to enable its Kraken customers and xStocks alliance members to engage in U.S.-listed IPOs via tokenized shares.
Binance, Bitget, and Gate previously provided pre-IPO markets through derivatives, where investors were not purchasing the actual shares but rather speculating on a prediction market or trading IOUs based on expected company valuations.
Bybit's IPO services, supported by Payward Services' xStocks, are open to retail investors globally, enabling participation in significant IPO projects through tokenized representations of publicly traded equities.
“This launch signifies a crucial advancement in merging traditional capital markets with crypto-native infrastructure, as exchanges increasingly strive to extend their offerings beyond digital asset trading into broader financial services,” Bybit stated in its press release.
The purpose of these services is to democratize access for millions of users to partake in IPOs that were previously exclusive to institutional investors, private banking clients, and select brokerage networks.
Additionally, Bybit mentioned that through xStocks' regulated blockchain, holders of tokenized public stocks can benefit from extended trading hours, decentralized finance (DeFi) integration, and crypto-native settlement options.
“For Bybit users, this marks the first opportunity to buy shares at IPO pricing outside of the competitive secondary market,” the press release noted.
Bybit has set the registration window for the SpaceX IPO from June 7 to 11, with allocations scheduled for June 11 and 12, coinciding with the public trading availability of the token on Bybit. Elon Musk's SpaceX is targeting a $75 billion IPO on June 12, valuing the company at $1.75 trillion, making it one of the largest IPOs on record.
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