SpaceX Tokenized IPO Raises $557M on Binance Wallet

Allocation is not guaranteed. Binance stated that final distribution depends on demand and issuance arrangements, determined by the issuer and underwriter. Applicants may receive full, half, or no allocation. Unsuccessful bidders will be refunded after completion. A 5% underwriting fee applies to successful orders.

The structure mirrors other tokenized private share offerings, such as the Citi pilot under Swiss regulation where wealthy clients gained tokenized exposure to private companies via SIX. Binance's version operates outside that framework, relying on its own wallet and exchange infrastructure.

Binance also launched pre-IPO perpetual futures for SpaceX. That adds a derivatives layer on top of the tokenized spot product. Both instruments offer crypto-native access to a traditional mega-cap IPO, yet they create a gap between synthetic and real ownership. Holders of SPCXx get price correlation only.

The short subscription window and implied valuation above some pre-IPO estimates add risk. If the actual IPO prices lower, token holders may see an immediate discount against the reference price, before the 5% fee.

Once allocations are calculated, the data will show how many of the 27,689 wallets end up holding SPCXx and how many get refunds.