Bitget Wallet, a self-custodial wallet and everyday finance application, recently announced an extraordinary response to its tokenized SpaceX IPO subscription, which quickly became 4x oversubscribed within just half an hour of opening. Originally set with an allocation of $3 million, the overwhelming demand from users prompted an expansion to $13 million. This surge reflects a notable capital conviction among users of self-custodial wallets who are keen on gaining direct on-chain access to prestigious public listings.
The subscription period began on June 9 and was accessible to all Bitget Wallet users without any specific requirements related to account tiers or statuses, with entries starting as low as $10. The entirety of the $13 million in commitments was executed on the Solana blockchain, with users subscribing using major cryptocurrencies like USDT and USDC directly from their self-custodial wallets. This development is part of Bitget Wallet’s initiative to enhance its real-world asset offerings.
Alvin Kan, COO of Bitget Wallet, commented on the rapid and high-volume demand, stating it reveals deficiencies in the traditional IPO system, which was not built to adapt to such swift capital movements. He highlighted the appeal of self-custodial wallets as a legitimate channel for accessing capital markets. This trend indicates a growing demographic of users holding significant on-chain assets who are eager for direct exposure to high-profile listings without the need for intermediaries such as brokers or exchanges.
Bitget Wallet’s strategy includes broadening its tokenized IPO portfolio to encompass a wider range of equity listings, allowing users on-chain access to some of the most sought-after investments globally. The platform positions itself as an all-encompassing resource for accessing tokenized assets, catering to both retail and institutional trading. It supports over 300 real-world asset (RWA) tokens, facilitating direct on-chain transactions for tokenized equities and other assets. Furthermore, Bitget Wallet has introduced the industry’s first DEX Aggregator API, enabling market-order trading of tokenized real-world assets in collaboration with partners like Ondo Finance and xStocks.
The distribution of SPCXx tokens is set to be completed prior to June 12, 2026, coinciding with SpaceX’s anticipated trading debut on Nasdaq. The final offering price for the IPO will be established by the issuer and underwriters, with allocations distributed on a pro-rata basis. It is important to note that while xStock tokens offer price exposure to the underlying equity, they do not confer shareholder rights.
Bitget Wallet, designed to simplify cryptocurrency usage, serves over 90 million users worldwide. The platform enables seamless cryptocurrency transactions, earning capabilities, and payments through stablecoins via crypto cards. Emphasizing security and user autonomy, Bitget Wallet operates as a fully self-custodial wallet, ensuring that it does not store or manage user funds, private keys, or data. All transactions are directly signed by users and conducted on public blockchains.
Users are strongly encouraged to perform their own research before engaging in any investments and to recognize the inherent risks and volatility associated with cryptocurrency markets.
