SpaceX Stages a Pre-IPO: A Long-Awaited Financial Inclusion
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SpaceX Stages a Pre-IPO: A Long-Awaited Financial Inclusion
For the first time, ordinary retail investors can directly participate in top-tier U.S. IPO wealth opportunities using stablecoins.
Navigating Web3 tides with focused insightsBy Ma He, Foresight News
At one time, the crypto industry attracted legions of people with its enormous wealth effect. Amid a liquidity feast, all seemed prosperous—countless dreams and wealth myths intertwined. Yet if we look back at market performance over the past six months, most participants would likely feel deeply disappointed. Indeed, the crypto world—which once offered ordinary individuals unprecedented access to venture capital opportunities—now often concludes with extreme player-versus-player (PvP) dynamics and severe immediate sell pressure upon token listing.
The wealth effect has sharply diminished, and despair is spreading. Yet when we step back slightly from the crypto sphere, we find rapid progress across AI, robotics, aerospace, and other fields—and equally impressive performance in equity markets. As a result, many crypto natives have shifted their focus to U.S. equities in 2025.
Top-Tier Equity—A “Closed Game” for the Few
According to PwC’s Global Top 100 Unicorns 2025 report, the combined valuation of the world’s top 100 unicorns stands at approximately $2.9 trillion. These companies have seen valuations multiply several-fold—or even dozens of times—over recent years. Yet ordinary investors remain almost entirely excluded from this wealth bonanza.
Traditional pre-IPO investment channels resemble a high wall: inside it lies a “club game” reserved for venture capital firms and accredited investors—only elite VCs and ultra-high-net-worth individuals gain entry. Whether through top-tier brokerages or dedicated private equity funds, participation thresholds start at no less than RMB 3 million ($420,000).
Outside the wall stand ordinary individuals—those without resources or connections. High barriers to entry, low liquidity, and complex legal procedures collectively form an almost insurmountable wall. SpaceX shares were previously inaccessible to retail investors.
Now, however, that is changing.
In April 2026, Bitget launched IPO Prime—a new token sale platform designed to enable everyday investors to participate in pre-IPO investments in globally leading enterprises. Its mission is to let genuine “blue-chip projects” become accessible to retail traders, allowing them to share in the dividends of industry growth.
The inaugural offering is none other than SpaceX.
Exchange competition in 2026 is no longer about “number of listed tokens,” but rather about “liquidity across asset classes.”
While other exchanges remain fixated on boosting secondary-market liquidity, forward-thinking players are already leveraging compliant channels to enter primary-market asset issuance—because regulatory compliance and access to top-tier assets are no longer insurmountable hurdles.
An interesting phenomenon: top crypto exchanges such as Binance and Coinbase have yet to enter the pre-IPO space—but Bitget has become the first to “break new ground.” This initiative fundamentally aims to dismantle financial barriers rooted in geography, capital requirements, and eligibility criteria—enabling ordinary crypto retail investors to participate in top-tier assets with minimal friction.
Structural inequality in traditional venture capital markets stems from Regulation D—the U.S. Securities and Exchange Commission’s Rule D—which defines the “accredited investor” framework. Under this regime, equity appreciation gains from super-unicorns like SpaceX have long been confined exclusively to individuals holding investable assets exceeding $1 million—or earning over $200,000 annually. In essence, this is a capital feast deliberately excluding 99% of market participants.
Bitget empowers ordinary retail investors to enjoy the benefits of financial inclusion—allowing them to invest in “blue-chip projects” just like traditional VCs, and pursue high returns.
Specifically, assets listed on IPO Prime are issued by compliant issuers who hold equity or related rights in the underlying enterprise via authorized channels—and then issue digital tokens to “mirror” the economic performance of those equity interests.
Take preSPAX—the inaugural offering—as an example. It is issued by Republic.
Gracy, Bitget’s CEO, revealed a compelling rationale for selecting Republic: “They operate under full licensing—seamlessly integrating the entire lifecycle of asset issuance, distribution, and trading. They possess cross-jurisdictional compliance capabilities and end-to-end real-world asset (RWA) service capacity—among the few global platforms licensed in the U.S., Europe, and Asia. Their shareholder base includes elite names: Valor Equity Partners (an early investor in both Tesla and SpaceX), Avalanche (a Web3 leader), and Yzi Labs.”
preSPAX tokens reflect the economic returns expected post-SpaceX IPO—but crucially, they are not actual SpaceX shares. Holding preSPAX confers no equity ownership in SpaceX, nor voting rights, dividend entitlements, or any other shareholder privileges.
The advantages of this “mirroring” mechanism are evident:
- Low barrier to entry: Users can participate using USDT or USDGO—no accredited investor status required
- High liquidity: An over-the-counter (OTC) trading market opens immediately after subscription closes—24/7 free trading
- Flexible exit options: Tokens may be sold on secondary markets—or held until IPO, after which they can be exchanged for stock tokens or USDT
What remains the biggest pain point of traditional pre-IPO investing? Your capital gets locked up—potentially for years.
Take SpaceX: founded in 2002, it has now operated for 23 years—yet remains unlisted. If you acquired pre-IPO shares via traditional channels, you might need to wait years—or even longer—to exit. During this period, your funds remain fully illiquid.
Currently, mainstream pre-IPO platforms—including EquityZen, Forge Global, and Hiive—operate within traditional finance and remain largely isolated from the crypto ecosystem.
Bitget’s IPO Prime innovation lies in launching an OTC trading market immediately after subscription closes. This liquidity design represents a major attraction for retail investors—especially given their sensitivity to opportunity costs associated with long-term lockups.
Additionally, users’ ability to directly use stablecoins to participate in this IPO breaks historical precedent in equity investing. Stablecoins are no longer merely tools for cross-border transfers or on-chain token trades—they now serve as compliant payment instruments for regulated IPO participation.
Retail investors avoid cumbersome fund transfers and complex settlement processes—simply using USDT or USDGO grants direct access to this wealth opportunity.
The Scarcity Behind SpaceX’s Trillion-Dollar Valuation
In April 2026, Bloomberg and CNBC jointly broke major news: SpaceX has filed for an IPO, targeting a June 2026 listing, aiming to raise ~$7.5 billion, with a valuation reaching $1.75 trillion.
If successful, this would become the largest public offering in history—surpassing Saudi Aramco’s $29 billion IPO in 2019. SpaceX would then rank as the sixth-most-valuable U.S. company—behind NVIDIA, Apple, Microsoft, Amazon, and Alphabet.
According to the latest Polymarket data, market odds currently assign a 70% probability that SpaceX’s official closing market cap on its first trading day will exceed $1.8 trillion—and a 49% probability it will surpass $2 trillion.
What justifies such a valuation? The answer lies in SpaceX’s commercial footprint.
SpaceX now dominates globally—thanks to three core strengths.
Falcon 9: The world’s first orbital-class reusable rocket—having completed over 150 launches and accounting for ~90% of global orbital launch mass. Reusability has slashed launch costs by multiples—making Falcon 9 the cornerstone of SpaceX’s dominance in commercial launch services.
Starlink: The global satellite internet leader—with 9.2 million subscribers across 150 countries. Subscriber numbers have doubled for two consecutive years. Revenue in 2025 reached ~$16 billion.
Starship: The next-generation fully reusable transportation system—designed to enable human missions to Mars and multiplanetary civilization. Though still under development, its progress lays the foundation for SpaceX’s long-term vision.
In a public speech in June 2025, Musk revealed that SpaceX’s fiscal year 2025 revenue is projected at $15.5 billion—and that 2026 revenue is expected to surpass NASA’s budget (~$18.8 billion).
Yet SpaceX has long resisted going public—resulting in extremely limited secondary-market share circulation.
In December 2025, SpaceX conducted a secondary share sale enabling employees to sell shares at an $800 billion valuation—the first time its valuation crossed the $800 billion threshold, more than doubling its prior $35 billion valuation.
The problem? These shares were almost entirely snapped up by internal employees and institutional investors. For ordinary investors, participation remains nearly impossible.
This time, Bitget’s decision to share SpaceX’s wealth opportunity with users may be no coincidence.
SpaceX challenges the boundaries of traditional aerospace; Bitget challenges the frontiers of traditional finance. Both are dismantling industry barriers through technological innovation.
Subscription Valuation: $1.5 Trillion | Individual Cap: $300,000
On April 18, Bitget will update its dedicated campaign page ahead of the event launch—enabling retail participation. Fund submissions close on April 21 at 2:00 p.m., followed by preSPAX token allocation. The OTC market opens at 8:00 p.m. on April 21.
IPO Prime operates on a subscription basis: eligible users may all participate, with individual subscription quotas tied to Bitget VIP tier levels.
The implied valuation for SpaceX subscription is $1.5 trillion. Total supply: 94,000 units. Total value: $61.1 million. Subscription price: $650 per preSPAX unit.
Supported subscription currencies: USDT and USDGO. Minimum individual subscription: $100. Maximum varies by VIP tier—VIP 7 users may subscribe up to $300,000.
After IPO Prime concludes, users may trade preSPAX tokens on Bitget’s newly opened OTC market, subject to applicable rules. Alternatively, users may hold tokens until the underlying debt asset’s lock-up period expires—typically around six months post-SpaceX IPO—after which the issuer will authorize Bitget to convert tokens into stock tokens or USDT at prevailing market prices.
Bitget has launched two rounds of token airdrops exclusively for platform VIP users, totaling $500,000. For high-net-worth users, this effectively serves as a generous “welcome gift.”
In April 2026, Bitget introduced its VIP Acceleration Program. Traditional VIP frameworks rely on fixed asset thresholds—such as requiring users to hold a certain quantity of platform tokens or reach specific asset balances. Bitget breaks from convention by linking VIP eligibility directly to actual trading behavior.
The program offers three independent advancement paths: derivatives trading, spot trading, and asset holdings—ensuring every type of user finds a suitable progression route.
This year, Bitget has accelerated its VIP strategy—not only optimizing tier progression pathways, but also upgrading its derivatives VIP service with the “Millionaire Club” initiative. Eligible users receive premium physical gift boxes monthly—customized by the platform. The program runs from January to June 2026, with previous gifts including Moutai and Hermès boxes.
Conclusion
Since 2025, Bitget has advanced its Universal Exchange (UEX) strategy—integrating cryptocurrency markets, on-chain markets, and tokenized assets into a unified trading experience.
According to on-chain analytics platform Lookonchain, Bitget’s tokenized stock trading volume has cumulatively reached $1 billion. In December 2025 alone, its monthly trading volume captured 89.1% of Ondo’s global market share.
Unlike traditional brokers, Bitget’s tokenized stocks trade 24/7—enabling global investors to react instantly to earnings reports or macroeconomic events, without waiting for the New York market open.
Through IPO Prime, Bitget expands its investable asset universe—from cryptocurrencies and tokenized stocks—to pre-IPO unicorn equity.
From an industry-competition perspective, Bitget’s CEX-first launch of IPO Prime—if followed by tangible wealth effects—carries significant implications.
Not every wealth opportunity can be seized—but wealth earned through deep research and bold action delivers the greatest thrill.
Tearing down the walls of Wall Street—making top-tier equity investment truly accessible—is a critical milestone in crypto’s maturation journey.
This financial-inclusion space experiment is about to begin.
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