Bitget has listed preOPAI, a tokenised pre-IPO instrument linked to OpenAI, on its IPO Prime platform via regulated partner Republic.
The token is issued on the Solana blockchain by Republic, a regulated partner, and is designed to track OpenAI's economic performance following a future public listing. Entry is available from USD 100, a threshold considerably lower than those typically associated with pre-IPO participation, which has historically been accessible primarily to institutional investors and private networks.
Structure, timeline, and settlement
Unlike conventional pre-IPO structures, which often involve extended lock-up periods and limited liquidity, the preOPAI model allows holders to trade their positions actively once distributed. Approximately six months after a public listing, holders will have the option to redeem their tokens into stock-linked assets or USDT at market pricing, providing a defined settlement pathway.
The introduction of preOPAI follows that of preSPAX, a token linked to SpaceX and the first listing on IPO Prime. The phased rollout reflects Bitget's stated approach of prioritising structure, liquidity, and regulatory alignment over speed of issuance.
Tokenised pre-IPO exposure in context
The broader context is a sharp increase in capital flowing into artificial intelligence companies, with industry estimates placing the AI economy's potential value at USD 4 trillion. Despite this, access to pre-IPO opportunities in AI has remained largely concentrated among institutional participants, with retail investors facing structural barriers to entry.
Bitget's IPO Prime framework addresses this by issuing instruments that reflect economic outcomes rather than conferring direct equity ownership. This distinction is relevant from both a regulatory and structural standpoint: holders of preOPAI acquire exposure tied to OpenAI's future performance without holding shares in the company.
The use of Republic as the regulated issuer provides a compliance layer that differentiates IPO Prime from less structured token launch models. Issuance on Solana supports the liquidity and trading mechanics central to the platform's proposition.
In addition, within Bitget's broader Universal Exchange model, IPO Prime sits alongside crypto and tokenised traditional assets, with the platform positioning itself as a single environment for capital allocation across different asset classes and stages of investment opportunity.
