SpaceX Pre-IPO (Derivatives) (SPACEX)

After the Bitget SpaceX Pre-IPO ended, Pre-IPO assets on the market have multiplied, and their prices vary widely.

Understanding these price differences is not complicated; first, you need to distinguish whether the trade is spot or contract.

Bitget preSPAX is a spot token that reflects SpaceX stock price, backed by real equity and issued by the regulated entity Republic, with an initial valuation of 1.5 trillion. Many Pre-IPO tokens listed on wallets are also spot tokens, representing on-chain assets; overall on-chain liquidity is modest, but they should theoretically be anchored to the future price of SpaceX stock.

Sometimes you may see SpaceX tokens priced at $2000; these are most likely pre-market contracts of SpaceX stock listed on some exchanges. Their price is much higher than spot because they are generally launched based on an estimated share capital of 1 billion. Once the official prospectus is released, the price will be rebased according to the actual share capital.

What will be the price and valuation of SpaceX stock? Based on the Bitget preSPAX token price, SpaceX’s valuation is about 1.52 trillion; using the contract market prices on several exchanges, the valuation approaches 2 trillion, indicating strong bullish sentiment in the market.

Different exchanges choose different product routes, but I firmly believe that while RWA assets offer more flexibility and liquidity, the core premise is always to reflect the price of the real underlying asset. This is why Bitget, when doing a Pre-IPO, first ensures it has genuine underlying assets.

Therefore we also believe that the pre-market token preSPAX, issued based on real SpaceX equity, will be one of the RWA assets that most accurately reflects SpaceX stock price. As the official IPO approaches, its price discovery value will become increasingly evident. Moreover, as we previously promised, preSPAX will be exchanged 1:1 for SpaceX stock tokens after the IPO lock‑up period. Such commitments are possible only because there is an underlying asset.

OKX has also listed SpaceX and other Pre-IPO contracts,
but Jeni scanned the major CEX/DEXs,
why are the pre-market trades of SpaceX so wildly different in price?

OKX @okx ：$1998
Gate @Gate ： $1908
Bitget @bitget : $677
Binance Wallet @BinanceWallet : $722

Old Ma, tell me, which one should I buy? @elonmusk https://t.co/nmQapCKtHS

Recently, major CEXs have rolled out Pre‑IPO assets, with SpaceX being the prime example. However, because they’re not interoperable, have different market makers, and different underlying assets, each platform now has its own price.

Current prices:
• OKX SPACEX perpetual: ~$2,000
• Bitget preSPAX: ~$680
• Gate SPCX: ~$600
• Binance Wallet Pre‑IPO (PreStocks) SPACEX: ~$720