Kraken has opened up entry to the upcoming SpaceX IPO via tokenized shares throughout greater than 110 markets, bringing the historically unique Wall Road course of to retail buyers.
In accordance with Kraken’s announcement, SpaceX would be the first firm provided via the brand new xStocks IPO Entry Program, a service that permits eligible retail buyers to use for IPO allocations utilizing tokenized fairness devices somewhat than conventional securities channels.
We’re launching IPO Entry with Kraken as one of many largest IPOs in historical past.
SpaceX is out there 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 via the alternate’s cellular utility earlier than shares can be found.
Kraken stated the service is at the moment obtainable within the European Financial Space and greater than 110 worldwide markets, however customers in the USA, Canada, Australia and the UK are nonetheless excluded on account of regulatory restrictions.
Traders who obtain their allocations shall be issued SPCXx, which is a tokenized SpaceX inventory backed 1:1 by the underlying inventory. In accordance with Kraken, these tokens shall be obtainable for buying and selling on Kraken and different platforms taking part within the xStocks community across the clock.
The launch places Kraken in direct competitors with a long-standing Wall Road follow during which IPO quotas are usually reserved for institutional buyers and rich purchasers.
Earlier this week, Payword Companies, a Kraken firm, introduced that Kraken clients and a few 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 accordance with Payward Companies, profitable candidates will obtain tokenized shares on the IPO providing worth on the day of itemizing, and the underlying shares shall be held by a regulated custodian. The corporate stated the construction is meant to offer retail buyers with entry that has beforehand been troublesome to acquire via the standard public providing course of.
SpaceX itemizing attracts robust demand
Bloomberg reported that SpaceX is scheduled to start public buying and selling on June 12 and goals to lift about $75 billion at a valuation of greater than $1.8 trillion. In accordance with Bloomberg, investor demand already exceeds the variety of shares obtainable.
If accomplished at this measurement, the deal would surpass the $29.4 billion itemizing accomplished by Saudi Aramco in 2019, making it the most important IPO in historical past, Bloomberg stated.
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 speculate closely in launch providers, spacecraft growth and different capital-intensive companies, which may impression how public market buyers worth the corporate as soon as it begins buying and selling.
AI infrastructure agreements add new development drivers
Past its aerospace enterprise, SpaceX has additionally expanded into AI infrastructure providers via large-scale computing offers with expertise firms.
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 response to latest regulatory filings.
Google stated 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 take care of Anthropic. Below the settlement, Anthropic agreed to pay $1.25 billion per 30 days via 2029 for computing energy at its Colossus 1 knowledge middle close to Memphis, Tennessee.
SpaceX merchandise are additionally coming as Kraken continues to broaden past crypto buying and selling. In late 2025, the alternate 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.
