Bybit has launched IPO Express, a service that lets eligible retail users subscribe to tokenized representations of U.S.-listed IPO shares, starting with SpaceX. The product puts crypto exchanges deeper into traditional capital markets by offering IPO-price access that has typically been limited to institutional and select brokerage channels.
Bybit has launched IPO Express, a service that lets eligible retail users subscribe to tokenized representations of U.S.-listed IPO shares, starting with SpaceX. The product puts crypto exchanges deeper into traditional capital markets by offering IPO-price access that has typically been limited to institutional and select brokerage channels.
Bybit has introduced IPO Express, a tokenized IPO service that will begin with access to SpaceX’s planned public listing. The Dubai-based crypto exchange says eligible retail investors can subscribe to tokenized representations of publicly traded equities at IPO pricing through the new offering.
Bybit has introduced IPO Express, a tokenized IPO service that will begin with access to SpaceX’s planned public listing. The Dubai-based crypto exchange says eligible retail investors can subscribe to tokenized representations of publicly traded equities at IPO pricing through the new offering.
The move matters because it pushes tokenization beyond crypto-native assets and further into traditional market access. IPO allocations have generally been concentrated among institutional investors, private banking clients and selected brokerage networks, while Bybit is positioning the product as a way for a wider group of eligible users to participate through crypto market infrastructure.
According to CoinDesk, Bybit is the second crypto exchange after Kraken to offer tokenized IPO access. The service is powered by Payward Services’ xStocks, and Bybit says tokenized listed stocks may offer extended trading hours, crypto-native settlement, DeFi composability and more flexible handling on blockchain rails.
The product differs from earlier pre-IPO markets offered by platforms such as Binance, Bitget and Gate, which were described as derivatives, prediction-style markets or IOU-like instruments rather than purchases of actual shares. Bybit’s model is presented as subscription access to tokenized representations of publicly traded equities tied to IPO pricing.
For SpaceX, Bybit said registration runs from June 7 to June 11, with allocation following on June 11 and June 12. CoinDesk reported that the token is expected to become available for spot trading on Bybit on June 12, the same date tied to SpaceX’s planned IPO, which is targeting a $75 billion raise at a $1.75 trillion valuation.
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