Bybit, Binance Cancel SpaceX Token Offers; Hyperliquid Perps Hit $3.2B
SPCX•Bybit, Binance and Bitget canceled their tokenized SpaceX allocations citing share shortages, leaving traders empty-handed, while Hyperliquid’s HIP-3 perpetual futures market reached $3.2 billion open interest, underscoring its appeal for SPCX exposure. Cathie Wood’s ARK Invest purchased 3.3 million SpaceX shares on IPO day, signaling strong institutional demand.
1. SpaceX Allocation Cancellations by Major Exchanges
Bybit, Binance and Bitget halted their tokenized SpaceX share offerings due to reported share shortages, preventing retail investors from gaining IPO exposure through these centralized platforms and highlighting risks in custodial tokenized-stock models.
2. Surge in Hyperliquid Perpetual Futures for SpaceX
Hyperliquid’s HIP-3 perpetual futures market for SpaceX saw open interest peak at $3.2 billion in June, suggesting traders favor 24/7 onchain perps over tokenized stocks to avoid custody issues and lockup restrictions.
3. ARK Invest’s 3.3M Share Acquisition on IPO Day
ARK Invest, led by Cathie Wood, acquired 3.3 million SpaceX shares on the IPO’s debut, indicating robust institutional confidence and potentially boosting liquidity as the market adapts to new trading mechanisms.



