Submit an indication of interest during the submission window and choose how much you want to invest. You access the institutional offering price*, through tokenized equities (xStocks). If your request is filled, the tokenized equities land in your Kraken account when trading begins.
Not guaranteed. Fills aren’t first-come, first-served. The IPO underwriters decide based on demand, so you may be filled in full, in part or not at all. Funds for unfilled requests are returned.
No. This is not a pre-IPO product. You submit interest during the IPO at the offering price; you aren’t buying anything before the IPO. If your request is filled, you receive tokenized equities (xStocks) when the company lists.
You access the institutional offering price plus a 5% spread, though other fees may apply. There are no hidden fees beyond that and you see your costs before you confirm your order. The value of tokenized equities (xStocks) may go down as well as up after listing.
Funds for any unfilled part are returned to your Kraken account. You may receive all, some or none of what you requested.
If your request is filled, your tokenized equities (xStocks) land in your Kraken account when the company lists and can be traded straight away — 24/5 in the EEA. There’s no lock-up.
IPO access through tokenized equities (xStocks) is available in the EEA and many other regions, but not all. If it isn’t available where you are, you’ll see a notice at the top of this page.
An IPO (initial public offering) is when a private company first sells shares to the public and begins trading on an exchange. On Kraken, you can submit interest in tokenized stocks (xStocks) at the offering price, if eligible, before public trading begins.
A filled request gets you the offering price during the IPO, before public trading begins; it is decided by underwriters and is not guaranteed. Buying after it lists means trading at the live market price, which may be higher or lower than the offering price.
