Retail Traders Skeptical of Overpriced SpaceX PreStocks Contract

Retail traders on Stocktwits are skeptical about the SpaceX PreStocks contract, calling it 'vastly overpriced'. The contract's price tag is around $688, which is more than five times the proposed IPO price of $135. This represents a premium of over 400%.

The skepticism comes after Morningstar analyst Nicolas Owens labeled SpaceX stock 'significantly overvalued' last week. Owens said that the company is worth less than half of its reported $1.75 trillion IPO target, suggesting that investors will have opportunities to buy the stock at more attractive levels after the IPO.

Bybit launched Bybit IPO Express on Monday, offering tokenized access to SpaceX (SPACZZX) at an indicative price of 135 USDC. This is a separate instrument from the SpaceX PreStocks contract and allows users globally to invest in US-listed IPOs alongside their crypto assets.

The competing paths to pre-IPO exposure to SpaceX suggest broader momentum for tokenized real-world assets (RWA), which is becoming more attractive to both crypto-native players and traditional financial institutions as a long-term growth driver for blockchain adoption.