Crypto Firms Scrap Tokenized SpaceX Share Offerings as SPCX Surges After IPO
Binance, Bybit, and Bitget refunded users who tried to buy tokenized SpaceX shares after xStocks failed to secure the underlying allocations. Bybit said no SpaceX shares were delivered, and Binance canceled its SPCXx campaign after circumstances outside its control prevented distribution. Binance also said it would share $1 million in SpaceX shares through its new bStocks tokenized securities product, while Bybit offered extra interest to participants. xStocks did not publicly comment, but its disclosures said the product offered only price exposure and did not guarantee share allocation or direct ownership. The failed offering came amid intense demand for SpaceX exposure, alongside other pre-IPO trading products on platforms such as Hyperliquid and Coinbase International. SpaceX shares, initially offered at $135, later traded around $172.31, lifting the company’s valuation above $2.2 trillion.
