---
title: "Bybit, Binance, Bitget cancel tokenized SpaceX IPO allocations after share shortage"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289621036.md"
description: "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."
datetime: "2026-06-12T16:12:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289621036.md)
  - [en](https://longbridge.com/en/news/289621036.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289621036.md)
---

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

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.

"Due to the xStocks' inability to deliver the underlying assets, Bybit did not receive any allocation," the exchange said in a notice. "As a result, all subscription funds will be refunded automatically." 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.

"The xStocks team made every effort to secure the allocation, but it ultimately wasn't available as expected," 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 "circumstances outside of our control." 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.

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