Bitget CEO Says IPO Prime Offers Tokenized SpaceX Equity Through SPV
According to Bitget CEO Gracy Chen, the product uses an SPV (special purpose vehicle) structure, with Republic providing compliance support and Bitget backing redemptions.
Fact Check
The statement is likely true in substance: TechFlow's report 'Bitget CEO: IPO Prime product outperforms peer Pre-IPO assets' says Gracy Chen described the product as using real SpaceX equity held through an SPV, with Republic handling compliance and Bitget backing redemption. That matches the user’s wording closely. The official Bitget notice '【首发上币】preSPAX 将上线 Bitget Pre-IPO 区｜Bitget Support Center' corroborates key structural elements by naming Republic as the regulated issuer and describing preSPAX as a tokenized product tied to SpaceX’s economic performance. However, Bitget’s official page also explicitly says the product does not represent direct ownership of SpaceX equity or shares, which qualifies any simplified claim that users are buying direct 'tokenized SpaceX equity.' Because the direct X post at https://x.com/GracyBitget/status/2044375763676246398 could not be fetched, attribution to Gracy Chen is supported indirectly via the traced Odaily source and the TechFlow report rather than direct primary-text verification.
- Reference: 1
Summary
No Summary provided as the original text is short
Terms & Concepts
- Tokenized equity: A digital representation of ownership exposure to company shares issued or structured on blockchain-related rails.
- SPV: A special purpose vehicle, a legal entity commonly used to hold assets or structure investor exposure separately from a sponsor.
- Redemptions: The process through which investors exchange a product or token for the underlying value or a cash equivalent, subject to the issuer’s terms.