Bybit is joining a growing list of crypto exchanges offering tokenized IPO shares, starting with SpaceX through the xStocks framework.
Eligible users can register interest and subscribe for tokenized shares, allocated on a pro-rata basis. SpaceX shares begin trading on Bybit's spot market on June 12. Allocated shares are backed 1:1 by underlying equity held in regulated custody.
xStocks is the second-largest tokenized stock platform, with about $415 million in tokenized equities.
SpaceX, founded by Elon Musk, filed confidentially for an IPO with the SEC in April. The company targets a valuation of at least $1.8 trillion and a $75 billion raise, potentially the largest IPO ever. SpaceX also disclosed holding 18,712 Bitcoin, ranking among the top 10 corporate BTC holders.
