Bitget has introduced a new offering called IPO Prime, aimed at retail investors seeking economic exposure to the pre-initial public offering (IPO) phase of SpaceX, the aerospace company led by Elon Musk. The product, which utilizes the preSPAX token issued by Republic, allows users a chance to engage with SpaceX's potential post-IPO performance without granting direct ownership of shares, as the offering has not been authorized by SpaceX.
The subscription window for acquiring preSPAX will be open from April 18 to April 21, with allocations distributed on April 21 and over-the-counter trading expected to commence the same day. Bitget's CEO, Gracy Chen, indicated that early access will be available to VIP users through exclusive pre-launch airdrops, marking a shift in how pre-IPO opportunities can be accessed.
This launch coincides with reports from Bloomberg suggesting that SpaceX has confidentially filed for an IPO, potentially valuing the company between $1.75 trillion and $2 trillion. Bitget's initiative reflects a broader trend among cryptocurrency exchanges to create more accessible investment products, paralleling efforts by traditional finance entities to enter the digital asset space.