Bitget rolled out a new product called IPO Prime yesterday. It lets retail users subscribe to tokenized versions of pre-IPO shares in big private companies. The first offering is preSPAX, which is designed to track SpaceX’s economic performance ahead of any potential public listing. Subscriptions are based on your account VIP level, and the tokens will later trade on Bitget’s OTC market.
This setup gives regular traders a way into early-stage deals that have mostly been limited to institutions and accredited investors until now. Bitget partnered with Republic to make it work.
Subscriptions for preSPAX open April 18, with the token itself going live April 21. There are also a couple of airdrop rounds for eligible VIP users starting April 13.
Curious what others think… does opening up pre-IPO exposure like this make sense on a crypto exchange, or does it just add another layer of risk most people don’t need?
https://coinedition.com/bitget-launches-ipo-prime-to-offer-pre-ipo-access-to-retail-investors/
Posted by minibuddy0
6 Comments
Anyone know how closely this actually tracks real SpaceX secondary market prices? The $650 token price and $1.5T implied valuation seem pretty specific but I haven’t seen the fine print yet.
How do the subscriptions work?
Republic partnership is the only reason I’m not instantly dismissing this. At least there’s a regulated issuer behind the token instead of pure exchange vapor.
Tokenized versions of SpaceX and many others have been available on PreStocks for a while. I don’t recommend buying pre-IPO products or anything hyped up as “getting in early.” Especially highly popular companies. They want you to believe you’re getting a good deal, but in reality it’s high risk and you can lose a lot of money.
It’s at $603 too freakin expensive
Not sure how that works for taxes or if SpaceX ever lists. Will probably just watch the first week before touching it.