Bitget’s IPO Prime Lists preSPAX Token Linked to SpaceX’s Future Market Performance

preSPAX introduces a new type of tokenized asset

A new token sale on Bitget’s IPO Prime platform is focusing on preSPAX, a digital asset structured to follow the post-IPO performance of SpaceX. The token is issued by Republic and does not represent direct ownership, but instead mirrors economic outcomes tied to the company’s future valuation.

Introducing IPO Prime, your fastest gateway to global unicorn companies before they hit IPO.

preSPAX token sale will be launched at Bitget IPO Prime, powered by @joinrepublic.

How to join:
🔹For VIPs: Exclusive airdrops (Apr 13-19)
🔹For all: Launch sale (Apr 18-21)

Get in… pic.twitter.com/5bExE9RSAr

— Bitget (@bitget) April 10, 2026

The sale is scheduled to open on April 18, 2026, with a three-day commitment period. Tokens are priced at $650, and the total offering size is set at over $61 million. The implied valuation of the underlying company stands at $1.5 trillion.

Participation is governed by a subscription model, where users commit funds within predefined limits. Allocation is calculated based on each participant’s share of the total committed amount, creating a proportional distribution system.

After allocation, trading will begin on an OTC market, allowing users to buy or sell tokens before final settlement. Alternatively, holders can wait until the lock-up period ends, at which point the token may be converted based on the market value of the underlying asset.

Bitget’s platform and the role of IEOs

Bitget is a cryptocurrency exchange that offers a range of trading and investment tools, including derivatives, staking, and token launch platforms. IPO Prime is one of its newer initiatives, focusing on tokenized representations of external assets.

The concept builds on initial exchange offerings, or IEOs, where exchanges facilitate token sales for early-stage projects. In contrast, IPO Prime applies a similar distribution mechanism to assets tied to established companies, introducing a different type of exposure for users.

This model reflects ongoing experimentation within the crypto industry, where platforms are exploring ways to bridge digital assets with traditional financial markets.

Conclusion

The preSPAX sale demonstrates how exchanges are expanding beyond conventional token launches. By linking digital assets to anticipated IPO performance, platforms like IPO Prime are creating new entry points for users—though the structure and risks differ significantly from direct equity investments.

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