Bybit launches pre-IPO perpetuals for Unitree and Moonshot AI
Bybit launched USDT-settled pre-IPO perpetual contracts for Unitree and Moonshot AI, expanding its TradFi lineup to over 200 products. The move follows a broader crypto exchange push into private-market trading, as tokenized stocks reach $2.38 billion distributed value and 1.31 million holders.
Quick Take
Bybit adds Unitree and Moonshot AI pre-IPO perpetuals settled in USDT.
TradFi perpetual lineup now exceeds 200 products across equities, ETFs, commodities.
Follows Binance, Coinbase, Kraken SpaceX-linked contracts amid private-market push.
Tokenized stocks hit $2.38B distributed value with 1.31M holders, up 123.62%.
Market Impact Analysis
BullishExpansion of crypto exchange product offerings into private markets and growth in tokenized equities signals increasing adoption and liquidity for crypto-native derivatives.
Speculation Analysis
Key Takeaways
- Bybit adds USDT-settled pre-IPO perpetual contracts for Unitree and Moonshot AI, letting traders gain price exposure without owning shares.
- TradFi perpetual lineup now exceeds 200 products across equities, ETFs, commodities, indices, and pre-IPO firms.
- Follows similar moves by Binance, Coinbase, and Kraken, which offered SpaceX-linked contracts ahead of its listing.
- Tokenized stocks hit $2.38 billion in distributed value with 1.31 million holders, up 123.62% over 30 days.
What Happened
Bybit, a Dubai-based crypto exchange, has launched USDT-denominated and settled pre-IPO perpetual contracts for Chinese robotics firm Unitree and AI startup Moonshot AI. Traders can gain price exposure to these private companies without owning shares. The move expands Bybit's TradFi perpetuals lineup to over 200 products, which the exchange introduced in April. The lineup includes equities, ETFs, commodities, indices, and pre-IPO companies. Unitree received IPO approval from China's securities regulator in July for a listing on Shanghai's STAR Market. The new perpetuals offer exposure ahead of public trading.
The Numbers
Bybit's TradFi perpetual lineup now exceeds 200 products. Tokenized stocks have reached $2.38 billion in distributed value across blockchain networks, according to RWA.xyz data. The number of tokenized stock holders stands at 1.31 million, a 123.62% increase over the past 30 days. Unitree's IPO approval came in July for Shanghai's STAR Market, marking a key milestone for the robotics firm. These figures highlight the rapid growth of onchain equities and crypto-native derivatives tied to private companies.
Why It Happened
The launch follows a broader push by crypto exchanges into private-market products. Binance, Coinbase, and Kraken previously rolled out SpaceX-linked contracts ahead of the company's listing, offering pre-IPO exposure through crypto-native derivatives. Underlying this trend is the growing traction of onchain equities. Tokenized stocks allow investors to hold blockchain-based representations of traditional shares, and the surge in holders suggests rising retail demand for fractionalized ownership in private companies before they go public. Exchanges are capitalizing on this demand by listing these perpetuals.
Broader Impact
The expansion of pre-IPO perpetuals signals a convergence between traditional finance and crypto. As exchanges list more private-market assets, they could attract traditional investors seeking early exposure without navigating private equity. This trend may accelerate the tokenization of real-world assets, potentially reshaping how companies raise capital. If regulatory clarity improves, these products could become a standard offering across major exchanges.
What to Watch Next
- Monitor if other exchanges follow Bybit's lead and list similar pre-IPO perpetuals for high-profile startups.
- Watch Unitree's IPO timeline on Shanghai's STAR Market and how its tokenized exposure performs pre-listing.
- Track tokenized stock metrics: further growth in holders and distributed value could signal sustained demand for onchain equities.
This article is for informational purposes only and does not constitute financial advice.
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