Bitget’s IPO Prime will debut with preSPAX, a Republic-issued token tied to SpaceX’s post-IPO performance rather than direct ownership of the company’s shares.
Cryptocurrency exchange Bitget has launched IPO Prime, a proxy offering tied to the pre-initial public offering (IPO) phase of Elon Musk’s aerospace manufacturing and space transportation company, SpaceX.
Bitget said Friday that IPO Prime will start with preSPAX, a Republic-issued token designed to give retail users economic exposure tied to SpaceX’s post-IPO performance. The exchange said the product does not give buyers direct ownership of SpaceX shares, and that SpaceX has not endorsed, approved or authorized the offering.
The launch highlights how crypto exchanges are bringing more traditional investment products onto blockchain rails in a bid to attract users with round-the-clock access to assets that have historically been harder for retail investors to reach.
