Kraken is providing its customers a unique opportunity to invest in the upcoming SpaceX initial public offering (IPO) through its xStocks platform, which facilitates trading in tokenized equities. This move marks a significant step in blending cryptocurrency infrastructure with traditional equity markets by allowing investors to acquire shares via digital tokens.
Access to SpaceX shares through Kraken’s IPO Access service requires users to hold a verified account on the Kraken mobile app and to submit an application specifically for the IPO. Notably, this offering is unavailable on Kraken Pro or the desktop platform and cannot be accessed by users in the United States, Canada, Australia, or the United Kingdom due to regulatory restrictions.
The service extends across the European Economic Area and more than 110 other international markets, where eligible investors can register their interest before SpaceX’s public debut. Allocated investors will receive SPCXx tokens, a tokenized representation of SpaceX equity backed one-to-one by actual shares. These tokens offer the flexibility of 24/7 trading on Kraken as well as other participating platforms within the xStocks network.
SpaceX is expected to begin trading publicly soon, with estimates valuing the company near $1.8 trillion—potentially making this the largest IPO in history if the company raises approximately $75 billion. The company’s satellite internet venture, Starlink, contributes a substantial portion of its revenue and profit, although the substantial costs linked to its rockets and space missions remain a consideration for investors assessing the stock’s value post-listing.