Kraken Launches SpaceX Tokenised Shares in 110+ Markets; June 5 Debut Ahead of IPO

Kraken announced on June 5 that it has opened access to the anticipated SpaceX IPO through tokenised shares (ticker SPCXx) for eligible customers across the European Economic Area and more than 110 international markets. The tokens are issued by Backed Assets (JE) Limited under an EU-registered prospectus and backed 1:1 by underlying equity, offering price exposure only with no voting or dividend rights. Trading is available 24/7 on Kraken's app.

SpaceX is reportedly seeking to raise approximately US$75 billion at a valuation of at least US$1.8 trillion, potentially ranking among the largest IPOs ever. Public trading is expected to begin around June 12. The offering is unavailable in the United States, Canada, the United Kingdom, and Australia due to regulatory restrictions on tokenised securities in those jurisdictions.