Key Takeaways:
Crypto exchange Bitget will list its second IPO Prime project, a pre-IPO token for OpenAI (preOPAI), for spot trading at 22:00 UTC+8 on May 15. The offering gives traders exposure to the artificial intelligence firm's valuation ahead of a public listing, with the token's $725 subscription price implying an $898 billion valuation for OpenAI.
The synthetic asset, built on the Solana network, aims to mirror the economic performance of OpenAI's stock on a 1:1 basis post-IPO. "This product gives you a way to track OpenAI's future stock performance through a digital token," according to an official announcement from Bitget. The offering is managed through a regulated partner, Republic.
The subscription window, which closed May 15 at 8:00 AM UTC, made 29,082 tokens available for a total offering value of $21.08 million. Investors will receive their tokens in three installments: 30 percent on May 15, 30 percent on June 15, and the final 40 percent on July 15, 2026. It is important to note that holding preOPAI is not the same as owning actual stock in the company and carries a high level of risk.
This launch allows retail traders to speculate on the $4 trillion AI market opportunity before OpenAI's potential IPO. The move follows Bitget's previous pre-IPO offering for SpaceX (preSPAX), which saw some early investors gain over 25 percent in less than 30 days as the underlying company's valuation climbed. Unlike the SpaceX deal, which focused on space exploration, the preOPAI token taps into OpenAI's 900 million weekly active users.
This article is for informational purposes only and does not constitute investment advice.
