Coinbase Launches Pre-IPO Market with SpaceX

Cryptocurrency exchange Coinbase has announced its new project: now users outside the US can invest in company shares before they go public. The first asset on this pre-IPO market is SpaceX, led by Elon Musk. Cointelegraph.com reports .

The new product is presented as a perpetual futures contract settled in USDC stablecoin. This instrument tracks the estimated market value of SpaceX and allows traders to trade 24/7. According to Coinbase, positions can be opened and closed at any time, and after the company officially goes public, these contracts will automatically convert into standard equity futures.

Previously, investment opportunities in private companies were mainly available to venture funds and large institutional investors. Coinbase aims to expand access to the private market with this step. SpaceX was chosen as the first asset due to its high global demand.

Competition among crypto exchanges for tokenization of real-world assets (RWA) is intensifying. Previously, Binance and Bitget launched SpaceX-related derivatives, and Kraken announced a similar initiative. According to Bernstein research, the RWA market grew by 42% this year, reaching $51 billion.

Although the market for tokenized shares is still in its formation stage, there is high interest among investors in tech giants like Tesla, Alphabet, and Microsoft. Coinbase's new service is currently unavailable to US residents due to restrictions, but it operates in other supported jurisdictions.