Bybit challenges Wall Street with a massive push into tokenized U.S. stock IPOs
Retail investors can now buy shares at official underwritten prices through the crypto exchange, bypassing Wall Street’s exclusive pre-IPO clubs.
What to know:
- Bybit has launched its IPO Express service to offer tokenized access to SpaceX’s highly anticipated public listing, positioning itself as the second crypto exchange after Kraken to provide tokenized IPOs.
- Unlike earlier pre-IPO derivatives from exchanges like Binance, Bitget and Gate, Bybit’s offering lets eligible retail investors subscribe to tokenized representations of actual publicly traded equities at IPO pricing.
- The SpaceX IPO registration on Bybit runs from June 7 to 11, with allocations and spot trading of the token beginning June 11 and 12, as SpaceX targets a $75 billion raise at a $1.75 trillion valuation.
Binance, Bitget and Gate previously offered pre-IPO markets in the form of derivatives. That means investors are not actually buying the actual shares.price. Instead, they are betting on a prediction market or trading IOUs based on what they believed the company would be worth.
Bybit’sIPO services are powered by Payward Services’ xStocks and are eligible retail investors worldwide who can participate in blockbuster IPO projects by subscribing to tokenized representations of publicly traded equities.
“The launch marks a fundamental step in the convergence of traditional capital markets and crypto-native infrastructure, as exchanges increasingly compete to expand beyond digital asset trading into broader financial services,” Bybit said in its press release.
