Bybit Launches IPO Express with Tokenized SpaceX IPO Access

On June 7, 2026, Bybit, a Dubai-based crypto exchange, launched IPO Express, enabling retail investors worldwide to subscribe to tokenized shares for IPOs at their initial price, starting with SpaceX. This new feature employs Payward Services' xStocks for tokenization, allowing users to engage directly via their Bybit accounts without needing a conventional broker. SpaceX aims to raise at least $75 billion, with its shares priced at $135, valuing the company over $1.75 trillion. The subscription runs from June 7 to 11, with allocations on June 11 and 12, and trading starting on June 12. Bybit’s offering stands out because the tokenized shares are fully backed by regulated equity, contrasting with competitors like Kraken, which also offers access in over 110 countries except the US, Canada, Australia, and the UK. Emily Bao, Bybit's Head of Spot, emphasized the need to make US IPOs more accessible for retail investors. Arjun Sethi, Co-CEO of Payward, remarked that IPO Access helps remove traditional barriers. Investors should be aware of potential risks, including price fluctuations and the gap between SpaceX's estimated valuation and Morningstar's $780 billion figure.