Bitget Launches SpaceX Proxy Token via New IPO Prime Platform

Bitget has officially launched IPO Prime, a new platform designed to offer retail investors access to pre-IPO opportunities through tokenized proxies. The inaugural offering is 'preSPAX,' a token issued by Republic that tracks the post-IPO performance of Elon Musk’s aerospace company, SpaceX. Unlike direct equity, preSPAX does not grant ownership of SpaceX shares, and the company has not authorized or endorsed the product. The launch coincides with reports that SpaceX may have confidentially filed for an IPO, with rumored valuation targets ranging from $1.75 trillion to over $2 trillion, though the company has not publicly confirmed these figures. The subscription process for preSPAX will operate on a tiered model from April 18 to April 21. Distribution is scheduled for April 21, with over-the-counter (OTC) trading commencing later that same day. Bitget CEO Gracy Chen noted that VIP users will receive early access via exclusive airdrop rounds ahead of the general rollout. This initiative is part of a larger 'super app' race among digital asset exchanges. Competitors such as Kraken, Coinbase, and Bitpanda have similarly expanded their offerings to include thousands of US-listed stocks and ETFs, aiming to merge digital and traditional equities into a single, 24/7 trading environment to capture a wider demographic of investors.