Cryptocurrency exchange Bybit announced it will offer retail investors access to tokenized initial public offerings at the offering price, starting with SpaceX as its first offering.
Bybit users, via Payward's xStocks tokenization platform, can subscribe to tokenized representations of publicly traded equities.
For the SpaceX offering, registration and subscription run from June 7 to June 11, 2026. Allocations will be finalized between June 11 and June 12, with tokenized shares expected to begin trading on Bybit’s spot market from June 12.
Users can purchase shares at IPO pricing, bypassing secondary market competition without needing to open or maintain traditional brokerage accounts.
SpaceX began its roadshow last week and has drawn investor demand of approximately $150 billion for its IPO, about double the $75 billion it seeks to raise, according to two sources familiar with the matter.
Cryptocurrency exchange Kraken also opened SpaceX IPO access to clients in more than 110 countries via xStocks this month.
Wall Street anticipates 2026 could be a breakout year for the U.S. IPO market, supported by a strong pipeline of high-profile private companies and pent-up demand for new listings.