How to Buy the SpaceX IPO Stock? Crypto Users Have an Inside Lane

Wall Street’s most anticipated IPO in history is twice oversubscribed, and crypto users may actually have an easier path to getting in than traditional investors.

SpaceX has drawn approximately $150 billion in investor demand for its $75 billion IPO, nearly double what it is seeking to raise. That oversubscription means traditional retail investors submitting orders through brokerages like Robinhood, Fidelity, or Charles Schwab will likely receive a fraction of what they request, if anything at all. 

Bybit First IPO Express – SpaceX is Live nowhttps://t.co/iBxXCadlg3Working exclusively with @xStocksFi and @krakenfx present you the most compliant method to participate in SpaceX pre IPO. 1=1 stock backed, compliant and secure. pic.twitter.com/dxzkpyFeGt

— Ben Zhou (@benbybit) June 7, 2026

How the SpaceX Stock Crypto Route Works

Bybit and Kraken have both opened access to SpaceX IPO subscriptions via xStocks. Registration and subscription run from June 7 to June 11, with tokenized shares expected to begin trading on Bybit’s spot market from June 12, the same day SpaceX debuts on Nasdaq.

The Bybit product uses an indicative price of $135 USDC plus a 5% underwriting fee, with a minimum of $100 USDC and a cap of 50 subscription orders per user. 

Kraken launched its own version on June 5 under the ticker SPCXx, available to verified users in more than 110 countries. No traditional brokerage account is required for either platform.

Hey Lavanya! Sorry for the confusion — when I said I spotted a loophole, I meant this “SpaceX IPO Access” on Kraken isn’t actually letting you buy real SpaceX shares. What you get is called xStocks (SPCXx) — it’s a tokenized synthetic product that just tracks SpaceX’s price.…

— 贾洛德森pro_🦞💎 (@two3pro) June 7, 2026

Bybit confirms the SpaceX IPO tokens will be backed 1:1 by real equity held in regulated broker-dealer custody after allocations are finalised on listing day.

What You Actually Own and What You Do Not

The critical distinction every crypto buyer needs to understand is that tokenized shares are not actual SpaceX equity.

xStocks tokens are issued by Backed Assets (JE) Limited, a Jersey-based entity, and structured as tracker certificates that provide economic exposure to the underlying reference asset rather than direct equity ownership, with no shareholder voting rights or dividend rights.

That means crypto buyers get the price exposure. If SpaceX stock rises, so does the token, but none of the legal protections that come with owning actual Nasdaq-listed shares. If the exchange faces liquidity issues, those tokenized positions carry risks that a standard brokerage account does not.

SPACEX EMPLOYEES ARE ABOUT TO CHANGE THEIR LIVES FOREVERA former SpaceX engineer J. André Lavoie who now lives in northern Italy renovating a hotel: his stake is about to be worth $28 million at the IPO price.A 27-year-old mariner Maryellyn Musselman who joined SpaceX in 2022… pic.twitter.com/w19TLGZLEJ

— WOLF (@WOLF_Financial) June 7, 2026

For investors who simply want price exposure to the biggest IPO in history without managing a brokerage lottery, the crypto route is faster and more accessible.

For those who want actual equity ownership, the traditional route remains the only option — assuming they can get an allocation in a market that is already twice oversubscribed.

The subscription window closes June 11. SpaceX begins trading on June 12.