Bybit Launches Tokenized SpaceX IPO Access Product Through xStocks Alliance

Bybit's latest move follows a growing trend of tokenized pre-IPO products, which have been gaining popularity among cryptocurrency enthusiasts and traders.

The exchange's product, called IPO Express, offers users the opportunity to invest in SpaceX's upcoming IPO through the xStocks Alliance. This platform provides economic exposure to the underlying reference asset without direct equity ownership or shareholder voting rights.

Bybit's offering requires Level 1 individual or business identity verification and is restricted to main accounts. The European Economic Area is excluded from participation, while Kraken's parallel product is available in the EEA through a Payward subsidiary licensed in Cyprus.

The xStocks tokens are issued by Backed Assets (JE) Limited, a Jersey-based entity, and are structured as tracker certificates that provide economic exposure to the underlying reference asset. These tokens are blockchain agnostic and interoperable across chains, including Ethereum, Solana, and TON.