Bitget launches IPO Prime with SpaceX-linked pre-sale

Bitget has launched IPO Prime, a new service that gives users pre-IPO exposure to private companies, including SpaceX.

Built with Republic, the platform is intended to open a part of the market that has typically been reserved for institutional investors and private capital networks.

Under the model, eligible users subscribe to allocations in tokenised offerings linked to specific companies. Allocation limits depend on user tier, with higher VIP levels receiving larger thresholds.

After the subscription period, the digital assets move to an over-the-counter market on Bitget, where users can continue to price and trade them.

The first product listed in the structure is preSPAX, a digital asset designed to mirror SpaceX's economic performance following a potential public listing.

This puts one of the world's most closely watched private companies at the centre of Bitget's latest push beyond its existing crypto and tokenised trading business. SpaceX has long attracted strong investor interest, but access to its equity has largely remained limited to private market participants.

How it works

IPO Prime extends Bitget's broader Universal Exchange model into primary market access. The company already offers crypto tokens and a range of tokenised traditional financial instruments, including stocks, exchange-traded funds, commodities, foreign exchange products and precious metals.

The launch reflects a wider trend among digital asset platforms to broaden their product mix as the lines between crypto markets and traditional finance continue to narrow. Tokenised products linked to real-world assets have become a key area of competition, with exchanges seeking new fee streams and a broader customer base.

Bitget says it serves more than 125 million users across 150 regions. It also offers access to more than 2 million crypto tokens and more than 100 tokenised stocks and related products.

Retail access

Bitget framed the new service as a way to bring retail users closer to a part of the capital markets that has historically offered limited public access.

"Since the beginning of financial markets, access to pre-IPO opportunities has been defined by exclusivity," said Gracy Chen, Chief Executive Officer of Bitget. "IPO Prime allows users to participate earlier in a company's growth cycle, with the flexibility of continuous trading. This shifts how and when investors can engage with emerging companies, giving retail and new investors a chance to buy in early. This is part of our broader shift towards building a UEX and democratizing access to financial equality."

The launch also adds to a growing number of examples of exchanges packaging economic exposure to private assets in digital form rather than offering direct ownership of the underlying company. In this case, preSPAX is described as a mirrored economic interest tied to SpaceX's potential upside in the event of a qualifying public-market outcome.

That distinction matters in a market where tokenised instruments can resemble shares in branding or marketing terms, yet operate under a different structure. The asset linked to SpaceX does not represent a direct investment in the company.

Market shift

For Bitget, the move is an attempt to expand beyond secondary-market trading and to position itself where private-market access, tokenisation and retail trading intersect. Exchanges in the digital asset sector have faced pressure to diversify as spot crypto trading volumes fluctuate and regulatory scrutiny remains uneven across jurisdictions.

Private market investing has traditionally been difficult for smaller investors due to high minimum commitments, limited access to deals, and limited liquidity. By contrast, tokenised structures aim to lower entry barriers and create a tradable market after the initial subscription phase, though the economic rights and legal treatment may differ from those attached to conventional securities.

The new structure creates a route for participation before companies reach public markets. Its choice of SpaceX as the first offering signals a focus on well-known private companies with strong market recognition and the potential to draw broad investor demand.