Kraken Opens Access to SpaceX IPO Through Tokenized xStocks Platform

Kraken has announced that eligible users can gain access to the upcoming SpaceX initial public offering through its xStocks IPO Access platform. The move marks another step in the growing connection between blockchain based financial services and traditional stock markets.

SpaceX will be the first company offered through the new IPO Access feature, allowing approved investors to participate in the offering using tokenized equity instruments. Interested users must have a verified Kraken account on the Kraken mobile app and complete an IPO access application. The service is not currently available through Kraken Pro or the exchange’s desktop platform.

Tokenized SpaceX Shares Available in More Than 110 Markets

According to Kraken, the IPO Access program is available across the European Economic Area and more than 110 international markets. However, regulatory restrictions prevent participation from users in the United States, Canada, Australia and the United Kingdom.

Investors who receive an allocation will be issued SPCXx tokens, a digital representation of SpaceX shares backed on a 1:1 basis by the underlying equity. These tokens can be traded around the clock on Kraken and other participating xStocks platforms.

SpaceX Targets Record-Breaking IPO

SpaceX is expected to begin public trading on June 12 and is reportedly seeking to raise approximately $75 billion at a valuation of at least $1.8 trillion. If achieved, the offering would become the largest IPO on record.

Much of the company’s growth has been driven by Starlink, its satellite internet business, which has become a major contributor to revenue and profitability. Despite strong demand, investors will closely watch how the market values SpaceX’s capital-intensive space launch and exploration operations once trading begins.