Bybit just made it possible for crypto traders to get in on what could be the largest IPO in history, without ever touching a stock brokerage account.
The world’s second-largest crypto exchange by trading volume launched IPO Express on June 7, a new platform that allows eligible users to subscribe to tokenized initial public offerings at the actual offering price. The first listing: tokenized equity in SpaceX, the Elon Musk-founded aerospace company eyeing a Nasdaq debut with a valuation target of at least $1.75 trillion.
Early numbers suggest traders noticed. Bybit reported roughly 550 pre-registrations and approximately $9.1 million in committed subscriptions shortly after the platform went live.
How the tokenized IPO works
IPO Express operates through a partnership with xStocks, which is part of Payward Services, the parent company of Kraken. Each xStocks token is backed 1:1 by real equity. In English: for every tokenized share floating around on Bybit, there’s a corresponding real SpaceX share sitting in custody somewhere.
