Bitget Wallet Opens SpaceX Tokenized IPO Subscription, Starting at $10 with No Threshold

Odaily reported that Bitget Wallet has opened subscriptions for SPCXx, the tokenized stock representing the SpaceX IPO, for the first time. The total quota is $3 million, with a minimum purchase of $10 and a maximum of $5,000 per individual, on a first-come, first-served basis.

SPCXx is issued by the tokenized stock trading platform xStocks, with a subscription price of $135. Underwriters will charge an additional 5% fee. Subscriptions open at 16:00 Beijing time on June 9 and close at 16:00 on June 11. After the subscription period ends, SPCXx will be automatically sent to users' wallets, with distribution expected to be completed by 20:30 on June 12. This subscription requires no overseas brokerage/exchange account, VIP level, or holding threshold. Users can pay directly with stablecoins such as USDT and USDC on Base, Ethereum, BNB Chain, Solana, and TRON.

The SpaceX tokenized IPO operates through xStocks, a collaboration between Bitget Wallet and Backed. The tokenized stocks issued are backed by a 1:1 underlying asset collateral from Backed. It is important to note that the subscription price of $135 is not a fixed offering price. The final IPO price will be determined by the issuer and underwriters after comprehensively evaluating order book demand, market conditions, and valuation factors. During the subscription period, users typically see only a reference price range, with the final offering price confirmed closer to the listing date. According to Reuters, the SpaceX IPO will officially begin trading on the Nasdaq on June 12 under the ticker symbol SPCX, planning to issue 555.6 million shares and raise approximately $75 billion.