SpaceX Stock Tokenized on Solana — on the Day of Its Nasdaq Debut
Backpack Securities and Sunrise bring tokenized SpaceX shares (SPCX) to Solana — tradable the same day as the Nasdaq listing and redeemable for real shares via the regulated brokerage.
What Happened
SpaceX lists on Nasdaq on June 12, 2026 — per its SEC filing at a fixed price of $135 per share under the ticker SPCX, at a valuation of roughly $1.77 trillion; reports call it the largest IPO in history. The same day, the stock becomes tradable as a token on Solana: Backpack Securities issues the tokenized version, with tokenization infrastructure from Sunrise.
How the Tokenization Works
- Real redemption: the token represents ownership of underlying SpaceX shares and can be redeemed for real shares through Backpack’s regulated brokerage; conversely, eligible shares can be converted into tokens — a bridge in both directions.
- 24/7 trading: the token trades on Solana around the clock, including outside market hours, can be held in self-custody wallets, and traded across supported Solana venues.
- Backpack CEO Armani Ferrante: “The future of tokenized equities is not just putting price exposure onchain. It is making underlying securities portable across financial systems.”
In parallel, Backpack has enabled stock trading in its mobile app — US stocks and ETFs alongside crypto, perpetuals, and yield in one account.
Context
After the launch of Backpack Securities in early June, SPCX is the first major showcase: a blue-chip IPO whose tokenized version is available onchain from the first trading day. For how tokenized stocks on Solana work in general — backing, trading, risks — see our background: Tokenized stocks (xStocks) on Solana.
Note: tokenized securities are subject to different rules depending on jurisdiction; availability and redemption depend on the brokerage’s eligibility requirements. This is reporting, not investment advice.
What to Watch
- How much SPCX volume actually happens onchain — and on which venues
- Whether future IPOs launch directly with a tokenized version
- How redemption into real shares works in practice
Sources
- CoinDesk — SpaceX Stock Is Coming to Solana on the Same Day It Lists on Nasdaq
- Backpack — @Backpack on X
- SOLANA·HUB news: Backpack launches regulated stock brokerage · Raydium reports $2B tokenized equities