Bybit’s SpaceX Tokenized IPO Subscription to Close June 11

Bybit’s subscription period for a tokenized initial public offering tied to SpaceX will close on June 11.

The subscription, available through Bybit IPO Express, is scheduled to end on June 11, according to BlockBeats and other outlets on June 10.

Bybit previously launched the SpaceX tokenized IPO subscription service in partnership with xStocks. The offering is considered an early example of a centralized exchange providing access to subscriptions at the IPO issue-price stage for a widely followed private company.

The subscription is open to eligible users. Participants do not need to open a brokerage account, reducing regional restrictions and cumbersome account-opening procedures and expanding access to global asset markets.

The tokenized SpaceX shares will be issued under a structure in which xStocks holds full reserves. Their price will be pegged one-to-one to the underlying shares.

The allocation process for the SpaceX tokenized IPO will run from June 11 to June 12. Spot trading will begin on June 12.