- Bitget launched preOPAI, a token tied to OpenAI’s future IPO performance, not actual equity
- The Solana-based product implies an OpenAI valuation near $898 billion
- OpenAI previously warned users to be cautious about unofficial tokenized offerings
Bitget is giving crypto traders a way to speculate on OpenAI’s future IPO through a new Solana-based token called preOPAI, but buyers should understand exactly what they’re purchasing before jumping in.
The token, launched through Bitget’s IPO Prime platform alongside private markets firm Republic, is designed to track OpenAI’s future economic performance after a public listing. What investors are not getting, though, is actual OpenAI stock, company ownership, or direct equity exposure.
That distinction is the entire point of the product’s legal structure.
What preOPAI Actually Represents
preOPAI functions more like a derivative tied to OpenAI’s future valuation rather than traditional pre-IPO shares. The token is priced around $725 with a minimum entry of $100, implying an OpenAI valuation close to $898 billion.
Token distribution will happen in stages between May and July, while holders may eventually redeem into stock-linked assets or USDT after a future OpenAI IPO. Republic’s involvement adds credibility since it operates as a regulated private markets platform rather than a typical crypto issuer.
Still, buyers are essentially betting on OpenAI’s future stock performance without actually sitting on the company’s cap table.
OpenAI Has Already Issued Warnings
Bitget’s own terms state that OpenAI has not endorsed, approved, or authorized the token. The company previously warned users to “be careful” after similar tokenized OpenAI exposure products appeared in 2025.
That doesn’t automatically make preOPAI unsafe, but it does mean investors should understand the difference between economic exposure and actual ownership before treating the token like early OpenAI equity.
The product is an interesting glimpse into how tokenized pre-IPO markets may evolve, but the fine print matters here a lot more than the hype.
