Kraken has opened up entry to the upcoming SpaceX IPO by means of tokenized shares throughout greater than 110 markets, bringing the historically unique Wall Road course of to retail traders.
In response to Kraken’s announcement, SpaceX would be the first firm provided by means of the brand new xStocks IPO Entry Program, a service that permits eligible retail traders to use for IPO allocations utilizing tokenized fairness devices slightly than conventional securities channels.
We’re launching IPO Entry with Kraken as one of many largest IPOs in historical past.
SpaceX is accessible at xStocks (SPCXx).
Examine worth ranges, be taught extra, and submit your curiosity within the Kraken app earlier than the interval ends.
👉 https://t.co/wKnib4oiqM pic.twitter.com/Nro6MBdfCE
— Kraken (@krakenfx) June 5, 2026
Customers should preserve a verified Kraken account and submit an IPO entry request by means of the trade’s cell utility earlier than shares can be found.
Kraken mentioned the service is at the moment out there within the European Financial Space and greater than 110 worldwide markets, however customers in the US, Canada, Australia and the UK are nonetheless excluded on account of regulatory restrictions.
Buyers who obtain their allocations will probably be issued SPCXx, which is a tokenized SpaceX inventory backed 1:1 by the underlying inventory. In response to Kraken, these tokens will probably be out there for buying and selling on Kraken and different platforms collaborating within the xStocks community across the clock.
The launch places Kraken in direct competitors with a long-standing Wall Road apply wherein IPO quotas are usually reserved for institutional traders and rich purchasers.
Earlier this week, Payword Companies, a Kraken firm, introduced that Kraken clients and sure xStocks Alliance members will be capable of register curiosity in upcoming U.S.-listed IPOs earlier than the businesses start public buying and selling.
In response to Payward Companies, profitable candidates will obtain tokenized shares on the IPO providing worth on the day of itemizing, and the underlying shares will probably be held by a regulated custodian. The corporate mentioned the construction is meant to supply retail traders with entry that has beforehand been troublesome to acquire by means of the normal public providing course of.
SpaceX itemizing attracts sturdy demand
Bloomberg reported that SpaceX is scheduled to start public buying and selling on June 12 and goals to boost about $75 billion at a valuation of greater than $1.8 trillion. In response to Bloomberg, investor demand already exceeds the variety of shares out there.
If accomplished at this measurement, the deal would surpass the $29.4 billion itemizing accomplished by Saudi Aramco in 2019, making it the biggest IPO in historical past, Bloomberg mentioned.
A lot of the corporate’s valuation is said to the expansion of its satellite tv for pc web enterprise, Starlink. On the identical time, SpaceX continues to take a position closely in launch providers, spacecraft growth and different capital-intensive companies, which may influence how public market traders worth the corporate as soon as it begins buying and selling.
AI infrastructure agreements add new progress drivers
Past its aerospace enterprise, SpaceX has additionally expanded into AI infrastructure providers by means of large-scale computing offers with expertise corporations.
Google has agreed to pay SpaceX $920 million per 30 days from October 2026 to June 2029 for entry to roughly 110,000 NVIDIA GPUs, CPUs, reminiscence, and associated tools, in accordance with latest regulatory filings.
Google mentioned the deal will assist it meet stronger-than-expected demand for its Gemini Enterprise merchandise whereas extra inside capability is developed.
Shortly earlier than that settlement, SpaceX revealed one other cope with Anthropic. Underneath the settlement, Anthropic agreed to pay $1.25 billion per 30 days by means of 2029 for computing energy at its Colossus 1 information middle close to Memphis, Tennessee.
SpaceX merchandise are additionally coming as Kraken continues to develop past crypto buying and selling. In late 2025, the trade acquired xStocks operator Backed Finance and subsequently introduced plans to make use of the infrastructure gained from the Bitnomial acquisition to deliver regulated Bitcoin perpetual futures to the US.
