Written by: Mach, Foresight News

Once, the crypto industry attracted countless people with its enormous wealth potential. Amidst the liquidity boom, a euphoric atmosphere prevailed, with countless dreams and wealth myths intertwined. However, if we look back at the market performance over the past six months, most people would likely be quite disappointed. Indeed, the crypto world, which once offered countless ordinary people the opportunity to participate in venture capital, now often ends with extreme PvP, and tokens facing intense selling pressure immediately upon listing.

The wealth effect has diminished sharply, and despair has spread. However, if we shift our focus slightly away from the cryptocurrency market, we can see that the development of fields such as AI, robotics, and aerospace is so rapid, and the stock market is also performing remarkably well, leading many cryptocurrency enthusiasts to switch to the US stock market in 2025.

Top-tier equity – a “closed game” for a select few.

According to PwC's "Global Top 100 Unicorns 2025" report, the total valuation of the world's top 100 unicorn companies reached approximately $2.9 trillion. These companies' valuations have increased several times or even dozens of times in the past few years, but ordinary investors can hardly share in this wealth feast.

Traditional pre-IPO investment channels are like a high wall, with venture capital firms and qualified investors inside—a "club game" for a very small number of top VCs and ultra-high-net-worth individuals. Whether it's a leading securities firm or a private equity fund, the entry threshold is at least 3 million yuan.

Outside the wall are ordinary people with no resources or connections. High barriers to entry, low liquidity, and complex legal procedures—these factors combined create an almost insurmountable barrier. SpaceX's share was previously inaccessible to ordinary investors.

But now, things are changing.

In April 2026, Bitget launched IPO Prime, a new token sale platform, aiming to enable ordinary people to participate in pre-IPO investments of top global companies. This allows truly "big projects" to reach ordinary retail investors, enabling them to share in the industry's growth dividends.

The first target listed was SpaceX.

In 2026, the competition among exchanges will no longer be about the "number of cryptocurrencies" but about the "liquidity of all asset classes".

While other exchanges are still vying for liquidity in the secondary market, truly strategic players are already using compliant channels to enter the primary asset issuance market. This is because compliance and the ability to acquire top-tier assets are no longer thorny issues.

An interesting phenomenon is that top crypto exchanges such as Binance and Coinbase have not yet ventured into pre-IPO, but Bitget has become the first to "take the plunge." This attempt is essentially to break down financial barriers caused by geographical, financial, and identity requirements for users, allowing ordinary crypto retail investors to participate in top assets with minimal friction.

The structural inequalities in the traditional venture capital market are rooted in the accredited investor system established by Regulation D (the U.S. Securities Act). Under this framework, the equity appreciation gains of super unicorns like SpaceX have long been locked into the realm of high-net-worth individuals with "investable assets exceeding $1 million" or "annual income exceeding $200,000." This is essentially a capital feast that excludes 99% of market participants.

Bitget allows ordinary retail investors to enjoy the benefits of financial equality, investing in "big projects" and obtaining high returns just like traditional venture capitalists.

Specifically, the assets listed on IPO Prime are issued by compliant issuers who hold equity or related rights in the target companies through compliant channels and then issue digital tokens to "mirror" the economic performance of these equity holdings.

Taking preSPAX, the first token launched, as an example, this token was issued by Republic.

Bitget CEO Gracy revealed that the reason for choosing Republic was very compelling. "They operate with a full range of licenses: they have a complete asset management chain from issuance to distribution to trading, possess cross-jurisdictional compliance capabilities and end-to-end RWA service capabilities, and are one of the few global platforms with compliance qualifications in the US, Europe, and Asia. Their shareholders are also top-tier, including Valor Equity Partners (an early investor in Tesla and SpaceX), and Web3 companies like Avalanche and Yzi Labs."

The preSPAX token reflects the economic performance of SpaceX after its IPO. However, it is important to note that it is not actual SpaceX stock. Holding the token does not equate to holding SpaceX equity, nor does it entitle you to voting rights, dividend rights, or other shareholder rights.

The advantages of this "mirror" mechanism are obvious:

• Low barrier to entry: Users only need USDT and USDGO to participate; no qualified investor status is required.
• High liquidity: An over-the-counter market will open after the subscription period ends, allowing free trading 7/24.
• Flexible exit strategy: You can choose to sell on the secondary market or wait for the IPO to convert the tokens into stock tokens or USDT.

What are the biggest pain points of traditional pre-IPO investment? You might not be able to get your money out for several years after you invest it.

Take SpaceX as an example. This company has been established for 23 years since 2002, but it is still not publicly listed. If you purchased SpaceX's pre-IPO shares through traditional channels, you may have to wait several years or even longer to exit. During this period, your funds are completely locked up and cannot be liquidated.

Currently, mainstream pre-IPO platforms such as EquityZen, Forge Global, and Hiive are all platforms focused on the traditional financial sector, and they are relatively isolated from the cryptocurrency ecosystem.

The innovation of Bitget IPO Prime lies in its immediate opening of an over-the-counter market after the subscription period ends. This liquidity design is a huge attraction for ordinary investors, who tend to be hesitant about the opportunity cost of long-term lock-up periods.

Furthermore, the ability for users to directly participate in IPOs using stablecoins breaks with past equity investment practices. Stablecoins are no longer merely a medium for cross-border transfers and on-chain token transactions, but rather a means of payment that can be used directly to participate in compliant IPOs.

Ordinary retail investors can participate in this wealth feast without facing complicated transfer and fund transaction issues, simply by using USDT or USDGO.

The scarcity behind SpaceX's trillion-dollar valuation

In April 2026, Bloomberg and CNBC simultaneously broke a major news story: SpaceX had filed for an IPO, aiming to go public in June 2026, with plans to raise approximately $75 billion and a valuation of up to $1.75 trillion.

If successful, this would be the largest IPO in history, surpassing Saudi Aramco's $29 billion fundraising record in 2019. SpaceX would then become the sixth most valuable company in the United States, behind only Nvidia, Apple, Microsoft, Amazon, and Alphabet.

According to the latest data from Polymarket, the market now bets that the official closing market capitalization on its first day of listing will be higher than $1.8 trillion, with a probability of being higher than $2 trillion, up to 70%.

Why is SpaceX worth so much money? The answer lies in its business empire.

SpaceX now reigns supreme globally thanks to its three killer features.

The Falcon 9 : the world's first orbital-class reusable rocket, has completed more than 150 launch missions, accounting for approximately 90% of the world's orbital launch mass. Reusable technology has reduced launch costs several times over, which is key to SpaceX's dominance in the commercial launch market.

Starlink : A global satellite internet giant with 9.2 million subscribers in 150 countries, doubling its user base for two consecutive years. Revenue is projected to reach approximately $16 billion by 2025.

Starship : The next-generation, fully reusable transportation system with the goal of enabling manned Mars and multi-planetary survival. Although still under development, its progress lays the foundation for SpaceX's long-term vision.

In a public speech in June 2025, Musk revealed that SpaceX's revenue for fiscal year 2025 was projected to reach $15.5 billion, and that it was expected to surpass NASA's budget (approximately $18.8 billion) in 2026.

However, SpaceX has long insisted on not going public, and very few of its shares are available on the secondary market.

In December 2025, SpaceX conducted a secondary stock sale, allowing employees to sell their shares at a valuation of $800 billion. This marked the first time SpaceX's valuation surpassed the $800 billion mark, more than doubling its previous valuation of approximately $350 billion.

The problem is that these shares are almost entirely taken by internal employees and institutional investors. For ordinary investors to participate is virtually impossible.

Bitget's decision to share the SpaceX wealth opportunity with its users this time may not be a coincidence.

SpaceX is challenging the boundaries of the traditional aerospace industry, while Bitget is challenging the boundaries of traditional finance. Both are breaking down barriers in traditional industries through technological innovation.

The estimated value of the subscription is 1.5 trillion, with a maximum investment of US$300,000 per person.

On April 18th, Bitget will update its relevant pages before the event opens, at which time retail investors can officially participate. Funding will close at 2 PM on April 21st, and preSPAX token distribution will begin. OTC trading will open at 8 PM on the 21st.

IPO Prime adopts an investment subscription model, and eligible users can participate in the subscription. The hard cap for individual subscriptions will be linked to the user's Bitget VIP level.

The implied valuation of SpaceX by users participating in the subscription is $1.5 trillion, with a total subscription of 94,000 units, a total value of $61.1 million, and a subscription price of $650 per unit of preSPAX.

The supported currencies for investment are currently USDT or USDGO. The minimum investment for an individual is $100, while the maximum investment varies depending on the VIP level. For VIP 7, the maximum investment for an individual is $300,000.

Following the IPO Prime launch, users can buy and sell preSPAX tokens on the Bitget over-the-counter market, according to the rules. Alternatively, users can wait for the lock-up period of the underlying debt assets of the preSPAX tokens to end (usually about 6 months after the SpaceX IPO), at which point the issuer can entrust Bitget to exchange them for stock tokens or USDT based on the market price of the underlying company's stock.

Bitget launched two rounds of token airdrops for its VIP users, totaling $500,000. For high-net-worth individuals, this is equivalent to a considerable "welcome gift."

In April 2026, Bitget launched its VIP Acceleration Program. Traditional VIP systems typically rely on fixed asset thresholds, such as requiring users to hold a certain amount of platform tokens or reach a specific asset scale. However, Bitget broke with this convention by linking VIP access to actual trading activity.

The program offers three independent advancement paths: contract trading, spot trading, and position management. Each type of player can find a suitable advancement path.

This year, Bitget accelerated its VIP program rollout, optimizing its tier progression system and upgrading its contract VIP service by launching the "Million Club" program. Eligible users can receive a monthly customized high-end physical gift box from the platform. This program runs from January to June 2026, and previously, users have received gift boxes containing items such as Moutai liquor and Hermes.

Conclusion

Since 2025, Bitget has been advancing its Universal Exchange (UEX) strategy, integrating the cryptocurrency market, on-chain market, and tokenized assets into a unified trading experience.

According to data from on-chain tracking platform Lookonchain, the cumulative trading volume of Bitget's stock token has reached $1 billion. In December 2025 alone, its trading volume accounted for 89.1% of Ondo's global market share.

Unlike traditional brokerages, Bitget's tokenized shares can be traded 24/7. This means that global investors can react instantly to earnings reports or macroeconomic events without waiting for the New York market to open.

Through IPO Prime, Bitget has expanded its investable asset classes from cryptocurrencies and tokenized stocks to pre-IPO unicorn equity.

From the perspective of industry competition, if the initial public offering of CEX through IPO Prime subsequently generates a wealth effect, it will undoubtedly be of great significance.

Investors can't seize every wealth opportunity, but wealth earned through in-depth research and bold courage is the most exhilarating.

Breaking down the walls of Wall Street and making top-tier equity investment opportunities accessible is a significant step toward maturity for the crypto industry.

This space experiment on financial equality is about to begin.