Bitget exchange brings pre-IPO tokens to masses starting with SpaceX on Solana

The crypto exchange opens IPO Prime access with Republic to offer Solana-based tokens tied to private firms ahead of public listings.

What to know:

— Bitget launches IPO Prime, a platform for investors to get exposure to private companies before going public

— The first token tracks the performance of SpaceX, Elon Musk’s rocket and AI company.

— The offering is issued by through investment platform Republic with tokens minted on the Solana blockchain.

Crypto exchange Bitget rolled out a new platform offering tokenized exposure to private companies, starting with an asset linked to SpaceX, as firms push to bring early-stage investing onto blockchain rails.

Trading began after a short subscription window, giving users near-immediate liquidity. That marks a break from traditional pre-IPO investing, where stakes in private firms are often locked up for years with limited options to exit.

Instead of fixed allocations, users commit stablecoins into a pool and receive tokens based on total demand. Once distributed, those tokens can be traded on a spot market, allowing investors to adjust positions as expectations around a future listing shift.

Tokenization has gained traction across traditional finance, from bonds to money market funds to equities. Extending the model to pre-IPO markets could widen access to a segment long dominated by venture capital and private equity, while testing how far crypto infrastructure can reshape capital formation.

The pre-IPO tokens do not represent equity ownership. They are derivatives structured to mirror financial outcomes tied to a company’s valuation after a public debut.

SpaceX is preparing for one of the most widely expected stock market debuts this year, after the firm reportedly confidentially filed for an IPO.