Crypto Firms Cancel Tokenized SpaceX Offerings Amid SPCX Surge
Crypto exchanges Binance, Bybit, and Bitget have cancelled their offerings for tokenized SpaceX shares, refunding customers after the xStocks platform failed to secure allocations. Following the IPO of SpaceX, its shares, denoted as SPCX, have surged over 26% from an initial price of $135, as reported by Decrypt.
On June 12, 2026, Binance, Bybit, and Bitget announced the cancellation of their campaigns to offer tokenized SpaceX (SPCX) shares, refunding participants after the tokenized equities platform xStocks was unable to secure necessary allocations for the IPO. This news follows a successful IPO where SPCX shares have increased significantly since their launch.
The cancellation comes amid rising interest in SpaceX, founded by Elon Musk, as the shares have recently surged more than 26% from their IPO price. Bybit communicated on social media that, "Due to xStocks’ inability to deliver the underlying assets, no SpaceX allocations were received." Binance stated that they were also forced to cancel their SPCXx campaign due to unspecified circumstances beyond their control.
In an effort to mitigate the disappointment, Binance announced a plan to compensate affected users by distributing $1 million worth of SpaceX shares via its new tokenized securities initiative, bStocks. Additionally, Bybit offered extra interest rewards to users who held funds during the campaign. This incident highlights the complexities and challenges related to tokenized equity platforms in the current market.
Despite the hiccup, the trend towards tokenization of equities continues as more crypto participants seek ways to engage with exclusive investment opportunities. Tokenized offerings such as those from xStocks provide price exposure but do not guarantee ownership of the actual equities, which have been a point of confusion, as indicated by disclaimers from the firm. A representative from xStocks did not respond to requests for comment on the situation.
Looking forward, the crypto ecosystem is poised to watch how these exchanges adapt their strategies in response to these developments and what new offerings may emerge as tokenized equities gain traction.
Summary based on original reporting by Logan Hitchcock at Decrypt, originally published Jun 12, 2026. SolanaWire does not republish source content.
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