Key facts
- Kraken is offering access to the SpaceX IPO via its xStocks platform.
- Participation is through tokenized equity instruments (SPCXX tokens).
- The offering is available to eligible users in over 110 markets.
- US, Canadian, Australian, and UK residents are excluded.
- Tokenized shares can trade 24/7 on Kraken and other xStocks venues after allocation.
Crypto exchange Kraken has launched its xStocks platform, enabling eligible users in over 110 markets to register for early access to initial public offerings (IPOs) through tokenized equity instruments. SpaceX's highly anticipated public listing will be the first company featured on this service. Users must have a verified Kraken account and use the mobile app to participate, with access not available on Kraken Pro or the desktop platform. The offering is specifically excluded for residents of the US, Canada, Australia, and the UK. Upon allocation, participants will receive SPCXx tokens, which are claims backed 1:1 by the underlying SpaceX shares. These tokens can be traded around the clock on Kraken and other participating xStocks venues, offering a different path to IPO participation compared to traditional brokerage positions. This initiative is part of Kraken's broader strategy to integrate tokenized equities into mainstream use, with SpaceX serving as the initial test case due to intense demand for its public offering, expected to commence trading on June 12.