Bybit to offer tokenized SpaceX IPO access through xStocks

Bybit has launched tokenized IPO access through the xStocks framework, enabling eligible users to gain exposure to private equity shares. Developed by Kraken parent Payward Services, xStocks aggregates investor demand and works with underwriting syndicates to secure allocations before tokenizing shares 1:1 against underlying equity held in regulated broker-dealer custody. SpaceX serves as the inaugural offering for this platform, with tokenized shares scheduled to begin trading on Bybit's spot market. According to RWA.xyz, xStocks currently holds approximately $415 million in tokenized equities, representing a 28% market share. While the offering is available in over 110 markets, it excludes residents of the United States, Canada, Australia, and the United Kingdom due to regulatory constraints. This development highlights the growing trend of using blockchain infrastructure to democratize access to private-market valuations and pre-IPO opportunities. As demand reportedly exceeds available supply, the initiative underscores the increasing integration of traditional equity markets with digital asset platforms.