Kraken Launches SpaceX IPO Access via xStocks for 110+ Markets
In brief
- Kraken launches SpaceX IPO access via xStocks tokenized equities platform
- 110+ markets eligible to register for SPCXx tokens backed 1:1 by SpaceX shares
- SPCXx tokens trade 24/7 on Kraken; unavailable in US, Canada, Australia, UK
- SpaceX IPO expected June 12 at $1.8 trillion valuation, $75 billion raise
Tokenized Equity Access
Crypto exchange Kraken is giving customers access to the upcoming SpaceX initial public offering through xStocks, a tokenized equities platform, highlighting the growing convergence between crypto infrastructure and traditional capital markets. IPO Access is available across the European Economic Area and more than 110 international markets, though participation is restricted in the United States, Canada, Australia and the United Kingdom.
Investors who receive an allocation will be issued SPCXx, a tokenized representation of SpaceX equity backed 1:1 by the underlying shares. The tokens can be traded 24/7 on Kraken and other participating xStocks platforms. The offering is not available through Kraken Pro or the company's desktop platform.
SpaceX's Record-Breaking Scale
SpaceX is expected to begin trading publicly on June 12. According to Bloomberg, demand for the offering has already exceeded the number of shares available, with SpaceX seeking to raise roughly $75 billion at a valuation of at least $1.8 trillion. If achieved, the listing would be the largest IPO ever, exceeding Saudi Aramco's $29.4 billion deal in 2019.
The company's growth story is largely tied to Starlink, its satellite internet business, which has become a major source of revenue and profitability. That revenue stream has positioned SpaceX as a rare profitable aerospace company, underpinning investor appetite for the offering.
