Key Highlights
- Eligible users in over 110 countries can now register interest in participating in SpaceX’s IPO through Kraken’s new IPO Access program.
- Investors who receive allocations will get SPCXx tokens, which are backed 1:1 by actual SpaceX shares and can be traded within the xStocks ecosystem.
- Coinbase has also introduced a pre-IPO perpetual futures contract, giving eligible international users another way to gain exposure to SpaceX.
Kraken, the trading platform powered by Payward, has opened access to the SpaceX initial public offering (IPO) through its newly launched IPO Access program.
In a blog post shared today, the company said that eligible users in more than 110 countries, including those in the European Economic Area (EEA), will be able to part in the early stage of SpaceX’s IPO process.
Instead of waiting for shares to hit public markets, users can now submit a non-binding expression of interest through the Kraken app or website to show they want to join the offering before it goes live.
Tokenized SpaceX shares through xStocks system
The program is reportedly built on Payward Services’ xStocks tokenized equities framework, which connects real company shares to digital tokens on the blockchain. Through this system, Kraken customers will be able to trade SPCXx, a token backed one-to-one by real SpaceX shares held safely by a regulated custodian.
The firm said that users who receive allocation will have their tokens delivered on listing day, after which they can hold, sell, or move them across supported wallets within the xStocks ecosystem.
24/7 trading without market shutdowns
In addition, Kraken and other xStocks Alliance platforms will allow continuous trading of SPCXx, meaning trading will remain open 24/7. Users can buy or sell at any time of the day or night even during weekends when traditional stock exchanges are closed. Usually, stock markets close after trading hours and only reopen on Monday, but this system removes that delay and keeps activity running all the time.
Arjun Sethi, Co-CEO of Payward, explained the idea behind the change. He said. “For a century, the best IPOs opened behind a velvet rope. You needed the right bank, the right address, or the right net worth to get in at the same price as the institutions. IPO Access pulls the rope aside.” He added that “From today, someone in 110 countries can register for SpaceX from their phone, and the moment it lists they trade it: nights, weekends, no waiting for an opening bell.”
Why this matters
SpaceX was founded by Elon Musk. It is a space and satellite company that has become one of the most watched private companies in the world. Many investors have been waiting years for it to go public because it is seen as a major opportunity. But in the past, getting into IPOs like this has been very difficult.
Most of the time, big banks, special connections, or high wealth levels decide who gets early access. Regular investors often miss out and only get a chance to buy shares after prices have already moved.
With Kraken’s IPO Access, that gap is now being reduced. Users can show interest before the IPO price is fixed, and those selected will be able to enter within a set price range. This means both small and large investors are starting from a more equal point during the IPO stage, instead of only meeting after trading begins.
Coinbase also enters SpaceX pre-IPO market
Meanwhile, Coinbase exchange has also launched its own product tied to SpaceX. The contract name is SPCX-PERP, went live shortly after 6:00 AM UTC on Wednesday, June 4.
The timing of the launch comes just days after SpaceX filed Amendment No. 1 to its Form S-1 with the U.S. Securities and Exchange Commission.
Also Read: SpaceX IPO Excludes Chinese Investors, Leaving Crypto as the Only Alternative
