Kraken Partially Fills SpaceX Pre-IPO Orders as Allocation Comes Up Short

Odaily Planet Daily reports that Kraken's official account, Nata, said on X that Kraken did not receive the expected pre-IPO allocation from SpaceX's underwriters. As a result, only part of customer orders could be filled today; any unfilled portions will be fully refunded with no fees. Kraken said it is now enabling eligible customers to trade SpaceX equity and tokenized SpaceX (SPCXx) on the platform. The firm noted that demand for SpaceX pre-IPO access via xStocks has been exceptionally strong, and that IPO allocations are determined solely by the issuer's underwriters amid robust global demand. Kraken added that Payward is positioned to secure IPO allocations, citing more than $1 billion in pre-IPO demand attracted in the week ahead of the listing. Customers will receive updates in the coming weeks regarding upcoming IPO Access offerings. After SpaceX lists publicly, Kraken plans to make SpaceX equity and xStock available to eligible customers. Kraken also said xStocks is currently the only platform offering continuous trading of tokenized SpaceX shares, with trading available over the first weekend following the listing.