The crypto exchange Bitget has launched IPO Prime, a proxy product tied to the pre-IPO stage of Elon Musk’s space company SpaceX. The preSPAX token, issued by Republic, provides users with economic exposure to SpaceX’s post-IPO performance. The product does not provide direct SpaceX share ownership, and SpaceX has not approved or endorsed this offering.
Bitget launches SpaceX on IPO Prime. Source: Bitget
The product will be offered via a subscription model in all jurisdictions compatible with Bitget. The preSPAX subscription window will be open from April 18-21, distribution will take place on April 21, and OTC trading will start on the same day. Bitget CEO Gracy Chen stated that priority access will be provided to VIP users. This launch reflects the trend of crypto exchanges tokenizing traditional assets to offer 24/7 access. SpaceX filed a confidential IPO application with the SEC a week ago; its valuation may exceed 1.75 trillion dollars and could be completed by June 2026. Similar products are available on platforms like Solana-based PreStocks, Orderbook, and Republic.
Bitget IPO Prime preSPAX Subscription Process
The preSPAX subscription window was limited to April 18-21, 2026. Distribution was completed on April 21, and OTC trading started immediately. VIP users gained an advantage with priority access. This model increases liquidity in spot products like PRIME detailed analysis, offering an alternative to traditional IPOs.
SpaceX Confidential IPO Application and PRIME Impact
SpaceX’s confidential S-1 filing with the SEC points to a June 2026 IPO with a valuation exceeding 1.75 trillion dollars. PRIME-based preSPAX brings this hype to the crypto ecosystem. SpaceX’s Starship tests and Starlink growth could impact token performance.
PRIME Technical Analysis: Current Support and Resistance Levels
PRIME is currently in sideways movement at the $0.00 level (RSI: 57.11). Although Supertrend gives a bearish signal, there is hope to hold above EMA 20 ($0.3441). The table below summarizes the key levels:
| Level | Price | Score | Distance | Sources |
|---|---|---|---|---|
| S1 (Support) | $0.2815 | 70/100 ⭐ | -24.21% | BB Lower, Fibo 0.000 |
| S2 (Support) | $0.3445 | 62/100 ⭐ | -7.24% | Prev Day Low |
| R1 (Resistance) | $0.4053 | 73/100 ⭐ | +9.13% | Fibo 0.214, Prev Day High |
| R2 (Resistance) | $0.4444 | 70/100 ⭐ | +19.66% | Ichimoku Senkou A |
If S1 breaks, the decline will accelerate; if R1 is surpassed, PRIME futures volume may increase.
ETF Flows and PRIME Market Context
April 22, 2026 ETF data is positive: Bitcoin ETFs net inflow of 335.8 million dollars, Ethereum 96.4 million dollars. These flows support demand for pre-IPO tokens like PRIME by increasing risk appetite. SOL-linked products (PreStocks) also carry similar upside potential.
Similar pre-IPO Products and Competition Analysis
- Republic: Issuer of preSPAX, tokenization leader.
- PreStocks (Solana): Fast settlement advantage.
- Orderbook: DEX-based alternatives.
Bitget’s launch stands out in this competition with 24/7 access. Risks for investors: No SpaceX approval, regulatory uncertainty.
Source: https://en.coinotag.com/bitget-spacex-pre-ipo-prime-launch-details