A tokenized SpaceX IPO offering on Bitget Wallet attracted $13 million in commitments within 30 minutes this week, highlighting growing demand for onchain access to some of the world's most sought-after private and public market opportunities.
The offering initially launched with a $3 million allocation through xStocks, but demand quickly exceeded available supply. Bitget Wallet expanded the allocation to $13 million, which was fully subscribed within the same half-hour window.
The subscriptions were made entirely on Solana using USDT and USDC from self-custodial wallets.
The speed of the raise offers another signal that crypto investors are increasingly looking beyond tokens and memecoins toward tokenized versions of traditional financial assets.
"The speed and scale of demand here reflects something the traditional IPO system was never designed to accommodate," said Alvin Kan, COO of Bitget Wallet. "Crypto-native users with capital conviction and no tolerance for gatekeepers."
The subscription was open to all Bitget Wallet users with participation starting at just $10 and no account tier requirements.
Tokenized IPOs Are Moving Into the Mainstream
The offering comes amid a broader wave of interest in tokenized stocks, private equity, and real-world assets.
Over the past year, major crypto platforms have accelerated efforts to bring traditional financial products onchain, arguing that blockchain infrastructure can make global investing more accessible while reducing the friction associated with brokers, settlement delays, and geographic restrictions.
For many crypto-native investors, tokenized assets represent an opportunity to access investment opportunities that have historically been limited to institutions, accredited investors, or specific jurisdictions.
The strong response to the SpaceX offering suggests demand may already exist.
Solana Continues Expanding Its RWA Footprint
All $13 million in commitments were processed on Solana, adding another example of the network's growing role in tokenized asset markets.
While Solana has traditionally been associated with DeFi, payments, and consumer crypto applications, the ecosystem has increasingly become a destination for tokenized real-world assets as firms look for lower transaction costs and faster settlement.
Bitget Wallet currently supports more than 300 tokenized assets and recently launched a DEX Aggregator API designed specifically for market-order trading of tokenized RWAs.
What Happens Next?
According to Bitget Wallet, SPCXx token allocations are expected to be distributed before June 12, when SpaceX is anticipated to begin trading on Nasdaq.
Final allocations will be distributed on a pro-rata basis and the final IPO price will be determined by the issuer and underwriters.
The tokens provide price exposure to the underlying equity but do not grant shareholder rights.
Whether tokenized IPOs become a mainstream capital markets product remains to be seen. But if raising $13 million from self-custodial wallet users in 30 minutes is any indication, investor appetite appears to be arriving faster than many expected.
