Ourbit Launches Super IPO Section With SpaceX Subscription as First Offering

SpaceX has yet to go public, and access to its private shares has historically been largely limited to institutions and high-net-worth investors. Bybit partnered with xStocks to launch IPO Express, with SpaceX as its first offering. Issued by Backed Assets and purportedly backed 1:1 by physical shares, the tokenized certificates were designed to let retail investors preorder them using USDC.

Bybit had planned to open subscriptions for the SpaceX offering on June 11, allowing investors to subscribe with USDC. The offering ultimately failed because xStocks did not deliver the relevant tokens. Bybit said it would refund subscription funds in full and provide compensation at a 10% annual percentage rate (APR), highlighting settlement risks and the risk that suppliers may fail to perform in tokenized IPO offerings.

Ourbit’s Super IPO service allows users to subscribe with cryptocurrency for digital assets linked to prominent private companies, offering exposure to IPO-related market activity without going through traditional securities underwriting channels. After debuting with a SpaceX-themed offering, the platform has turned to OpenAI for its second phase, reflecting exchanges’ efforts to channel enthusiasm for technology unicorns into the crypto market.

Ourbit recently announced the second phase of Super IPO, formally opening subscriptions for OpenAI-linked digital assets at 699 USDT each, which it claims is the lowest price available across the market. Related reports said token prices for both the SpaceX and OpenAI offerings had risen at some point. However, Ourbit has not disclosed the exact launch date, total subscription amount or asset-redemption mechanism in the event information.

Cryptocurrency exchange Bitget has launched IPO Prime, a platform that tokenizes economic exposure to global unicorns before they go public. Its first offering, preSPAX, is issued by Republic and deployed on Solana. The token is designed to track SpaceX’s post-IPO share performance on a 1:1 basis, but it does not represent equity in SpaceX and is not endorsed by the company. Investors remain exposed to issuer, liquidity and private-company risks.

Bitget announced the inaugural offering on April 10, 2026, with subscriptions open from April 18 to 21. The offering comprises 94,000 preSPAX tokens priced at $650 each, for a total value of $61.1 million and an implied SpaceX valuation of $1.5 trillion. The minimum individual investment is $100, while the subscription pool is capped at $1 billion. OTC trading opens on the evening of April 21, and VIP airdrops are being distributed in batches starting April 13.

SpaceX, founded by Elon Musk in 2002, has expanded the space market through reusable rockets and Starlink. Bitget’s IPO Prime brings exposure to private investments onchain, lowering the barrier for retail investors. However, preSPAX is not SpaceX stock. It is a tokenized debt instrument issued by Republic and linked to SpaceX’s post-listing returns, with no involvement from SpaceX in the issuance.

Bitget launched IPO Prime on April 14, 2026. Subscriptions for preSPAX run from April 18 to 21 UTC, with trading beginning on April 21. The initial offering comprises 94,000 tokens priced at $650 each, for a total value of $61.1 million, based on a $1.5 trillion valuation for SpaceX. The minimum individual investment is $100, while the platform’s commitment is capped at $1 billion.