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Key Takeaways
- Bitget Wallet’s tokenized SpaceX IPO raised $13 million on Solana via self-custodial wallets in 30 minutes, expanding from an initial $3 million allocation after demand quadrupled it.
- All commitments were made through xStocks using USDT and USDC, with no centralized exchange required and a $10 minimum entry.
- SPCXx tokens offer price exposure to SpaceX equity but carry no shareholder rights, with distribution expected before June 12, 2026.
Bitget Wallet’s tokenized SpaceX IPO subscription raised $13 million in commitments on the Solana blockchain and sold out within 30 minutes, the company said. The offering was processed through self-custodial wallets using USDT and USDC, without requiring users to hold assets on a centralized exchange.
Initial $3 Million Allocation Filled Within Minutes, Prompting Expansion to $13 Million
The subscription opened on June 9 with an initial allocation of $3 million, which was fully committed within minutes of launch. Bitget Wallet expanded the offering to $13 million in response to demand, which exceeded the initial allocation by four times, and the expanded allocation sold out within the same 30-minute window. Users could participate with as little as $10, with no account tier or status requirements attached to eligibility.
All $13 million in commitments were made on Solana through xStocks, with participants subscribing directly from self-custodial wallets using USDT and USDC. Bitget Wallet’s Chief Operating Officer Alvin Kan said the rapid sellout reflected demand from crypto-native investors seeking direct access to capital market opportunities without relying on traditional intermediaries.
SPCXx Token Distribution Expected Before June 12 Nasdaq Trading Date
Bitget Wallet said SPCXx token distribution is expected to be completed before June 12, 2026, coinciding with the expected start of SpaceX trading on Nasdaq. The final IPO price will be determined by the issuer and underwriters, with allocations distributed on a pro-rata basis.
The company noted that xStock tokens provide price exposure to the underlying equity but do not confer shareholder rights, meaning holders gain economic exposure to the stock’s performance without the ownership rights associated with traditional shares.
Bitget Wallet Expands Tokenized RWA Infrastructure With Additional Equity Listings Planned
The SpaceX offering is part of Bitget Wallet’s broader push into tokenized real-world assets. The company said the platform currently supports more than 300 tokenized RWA products. Bitget Wallet said it recently launched what the company calls the industry’s first decentralized exchange aggregator API for market-order trading of tokenized RWAs, with current integrations including xStocks and Ondo Finance.
