Bitget has launched IPO Prime, a new product that gives eligible users access to tokenized pre-IPO offerings through a subscription model.
- The first asset under the program is preSPAX, a digital instrument tied to the economic performance of SpaceX.
Bitget is moving into tokenized private market access with a product that aims to bring pre-IPO exposure closer to retail users, not just institutions and private wealth circles.
The exchange said Friday that its new offering, called IPO Prime, will begin with preSPAX, a digital asset linked to the economic performance of SpaceX. The private rocket company is currently valued at $1.54 trillion on secondary trading venue Nasdaq Private Market, according to the report.
Bitget and Republic push pre-IPO access into tokenized form
IPO Prime is powered by Republic and built around a subscription model. Eligible users apply for allocations in tokenized offerings, with allocation limits determined by user tier.
Higher VIP levels receive access to larger thresholds, which gives the product a familiar exchange-style structure even though the underlying theme is private market investing.
Once the subscription phase ends, the digital assets move into an over-the-counter market on Bitget, where they can continue trading. That is an important detail. The pitch here is not only early access, but also liquidity. Traditional pre-IPO exposure is usually defined by waiting. Bitget is trying to shorten that distance.
The first use case, tied to SpaceX, gives the product immediate visibility. SpaceX is one of the most closely watched private companies in the world, and demand for indirect exposure has been strong for years.
The bigger bet is on how private market investing gets distributed
Bitget chief executive Gracy Chen said the product is meant to shift access to pre-IPO opportunities beyond institutional investors. That is the core argument behind IPO Prime. Let users participate earlier in a company’s growth cycle, then give them ongoing trading flexibility rather than locking them into a static private market position.
There is a broader industry angle here too. Crypto exchanges have spent years trying to prove they can offer more than token speculation. Products like this suggest the next phase may involve using crypto infrastructure to repackage traditional private market access in a more liquid, app-based format.
