preSPAX Launch on Bitget IPO Prime Opens Tokenized Access to SpaceX Valuation

Inside the preSPAX token sale structure

Bitget is adding preSPAX to its IPO Prime platform, introducing a token that tracks the economic performance of SpaceX once it goes public. The product is issued by Republic and is structured as a mirrored financial instrument rather than a direct stake in the company.

The sale features a fixed token price of $650 and a total supply of 94,000 tokens, with commitments accepted in USDT or USDGO. The overall cap for contributions is set at $1 billion, while individual limits depend on user VIP status.

Participants commit funds during the subscription window, and final allocations are calculated proportionally. This means the number of tokens received depends not only on individual contributions but also on the total capital committed by all participants.

Following the distribution phase, preSPAX will be available for OTC trading. Users can also choose to hold the asset until settlement, which is tied to the timeline of the underlying company’s IPO and subsequent lock-up period.

IPO Prime details:

• Implied SpaceX valuation: $1.5 trillion
• Total supply on IPO Prime: 94,000
• Total subscription value: $61,100,000
• Subscription price: 1 preSPAX = $650
• Commit token: USDT or USDGO
• Total commit cap: $1,000,000,000
• Individual min commit (USDT or USDGO): $100
• Individual max commit (USDT or USDGO):

VIP level	Individual max commit
VIP 0	$1000
VIP 1	$15,000
VIP 2	$30,000
VIP 3	$100,000
VIP 4	$150,000
VIP 5	$250,000
VIP 6	$300,000
VIP 7	$300,000

• VIP tier max commit (USDT or USDGO):

VIP level	Tier max commit
VIP 0	$100,000,000
VIP 1	$100,000,000
Total commit cap	$1,000,000,000

Understanding Bitget and IPO-style token offerings

Bitget has positioned IPO Prime as an extension of the IEO model commonly used in crypto markets. Traditional IEOs involve exchanges hosting token sales for blockchain projects, often providing early access before broader market listings.

IPO Prime adapts this framework to assets linked to established companies. Instead of launching a new crypto project, the platform offers tokens that mirror the financial performance of external entities, introducing a hybrid approach between digital assets and traditional finance.

As a global exchange, Bitget has expanded its offerings beyond spot and derivatives trading to include staking, launchpads, and token distribution platforms. IPO Prime is part of this broader effort to diversify access to different types of investment opportunities within the crypto ecosystem.

Wrapping up

The preSPAX offering highlights how tokenization is being applied beyond crypto-native projects. By linking digital assets to real-world company performance, platforms like IPO Prime are experimenting with new ways to provide market exposure—while still operating within the constraints and risks of both crypto and traditional financial systems.