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

Odaily Planet Daily News: Bitget Wallet has opened subscriptions for the first time for SPCXx, the tokenized stock of the SpaceX IPO, with a total quota of $3 million. Subscriptions start from $10, with a single-person cap of $5,000, available on a first-come, first-served basis.

SPCXx is issued by the tokenized stock trading platform xStocks, with a subscription price of $135, and underwriters will charge an additional 5% fee. Subscriptions open on June 9 at 16:00 Beijing time and close on June 11 at 16:00. After the subscription period ends, SPCXx will be automatically sent to users' wallets, with distribution expected to be completed by June 12 at 20:30. This subscription does not require overseas brokerage/exchange accounts, VIP status, or holding thresholds. Users can directly pay using stablecoins such as USDT and USDC on Base, Ethereum, BNB Chain, Solana, and TRON.

The SpaceX tokenized IPO operates through the xStocks platform, a collaboration between Bitget Wallet and Backed. The tokenized stocks issued by xStocks are backed by Backed with a 1:1 underlying asset collateral. It is important to note that the current subscription price of $135 is not a fixed issuance 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 only see a reference price range, and the final issuance price will be confirmed closer to the listing date. According to Reuters, the SpaceX IPO is scheduled to officially list on the Nasdaq on June 12, with the ticker symbol SPCX. The company plans to issue 555.6 million shares, aiming to raise approximately $75 billion.