<div id="readability-page-1"><div>Several crypto exchanges have canceled their planned allocations for tokenized shares of Elon Musk's SpaceX IPO and have begun issuing refunds after failing to secure enough underlying shares to fulfill customer subscriptions.Bybit said Friday that no users would receive allocations after xStocks was unable to deliver on the underlying assets.&#34;Due to the xStocks' inability to deliver the underlying assets, Bybit did not receive any allocation,&#34; the exchange said in a notice. &#34;As a result, all subscription funds will be refunded automatically.&#34; Bybit also said eligible participants would receive an additional 10% reward as consolation.Bitget announced a similar outcome, saying it was unable to secure and distribute allocated SPCXx tokens tied to the SpaceX IPO.&#34;The xStocks team made every effort to secure the allocation, but it ultimately wasn't available as expected,&#34; Bitget said on X. The company said users would receive a full refund, including fees, along with future tokenized IPO whitelisting privileges and a gas fee voucher.Binance also canceled its Binance Wallet SPCXx IPO campaign, citing &#34;circumstances outside of our control.&#34; The exchange said all locked USDC would be refunded and that participating users would receive a share of a $1 million airdrop of its upcoming bStocks SpaceX token, SPCXB.Kraken has still not publicly commented on the status of its SpaceX IPO allocation.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</div></div>

SpaceX lists on NASDAQ today (June 12) under ticker SPCX at USD 135 IPO price, valuing the company at USD 1.75T and raising USD 75B, the largest IPO in history, roughly 3x Alibaba's. Total demand topped USD 250B with retail alone over USD 100B, oversubscribed 3.5x. But 2025 revenue was USD 18.67B with a USD 4.94B net loss, leaving the valuation leaning on Starlink + Starship + xAI narratives. Does it pop or retrace at open?

SpaceX lists on NASDAQ today (June 12) under ticker SPCX at USD 135 IPO price, valuing the company at USD 1.75T and raising USD 75B, the largest IPO in history, roughly 3x Alibaba's. Total demand topped USD 250B with retail alone over USD 100B, oversubscribed 3.5x. But 2025 revenue was USD 18.67B with a USD 4.94B net loss, leaving the valuation leaning on Starlink + Starship + xAI narratives. Does it pop or retrace at open?

Largest IPO in History: SpaceX Rings the Bell!

SPCX

2倍做多SpaceX ETF-leverage shares

SPCF

SPAL

SSPC

SPCU

Bybit, Binance, and Bitget canceled allocations for tokenized SpaceX IPO shares due to a shortage of underlying assets. These exchanges are issuing full refunds to users. Bybit offers an additional 10% reward, while Binance provides a share of a $1 million airdrop. Bitget includes future whitelisting privileges. Kraken has not yet commented on its status.

Bybit, Binance, Bitget cancel tokenized SpaceX IPO allocations after share shortage