- Backpack Securities has announced the launch of tokenized SpaceX stocks on the Solana blockchain via SunriseDeFi.
- The announcement comes a day ahead of the largest IPO in history from SpaceX as the company plans to launch on the Nasdaq under the ticker “SPCX” on June 12.
- The announcement comes amid the boom in the tokenized stock market, which soared over $1.4 billion thanks to growing regulatory developments.
On June 11, Backpack, a leading cryptocurrency exchange on Solana, announced that tokenized SpaceX’s share $SPCX will be available on Solana via SunriseDeFi. This announcement is coming at a time when SpaceX is going to make its debut on Nasdaq under the ticker SPCX on June 12.
SPCX Tokenized SpaceX Shares Launch on Solana via Backpack Securities
This tokenized version of SPCX will be issued by Backpack Securities, which is a regulated platform of the Solana-based Backpack ecosystem. This tokenized stock issued on Solana will represent 1:1 ownership of actual shares issued by a public company.
The announcement will allow users to transact money in and out between regular brokerage accounts and Solana wallets. They can trade these tokenized stocks on the blockchain-based platform at any time.
Backpack Securities has also confirmed the launch with SunriseDeFi, which is a gateway for assets developed by Wormhole Labs. Sunrise is also a major platform that provides support for the creation of official markets on Solana.
SpaceX is planning to roll out the biggest initial public offerings in the history of the company. The company has decided to keep its IPO price at $135 per share, which will help the company gain a valuation of around $1.77 trillion. It is expected to raise around $75 billion, which will help it to surpass previous records such as the Saudi Aramco listing. The company filed its paperwork with the U.S. Securities and Exchange Commission (SEC) in May 2026. This IPO has sparked excitement among investors, and some reports are suggesting major oversubscription.
The IPO has managed to generate a significant amount of buzz amongst the retail investors. The buzz is mainly because SpaceX has reserved around 30% of the offering for the retail investors. Moreover, Goldman Sachs is leading the underwriting process.
The biggest IPO in history is coming at a time when there is a boom in tokenized securities sector, thanks to growing regulatory clarity around it under the leadership of pro-crypto U.S. President Donald Trump. The tokenized version of SpaceX shares will allow crypto holders to gain exposure to the rocket and satellite company through digital tokens.
Solana has become a leading blockchain for tokenized stocks. In 2025, Backed Finance announced the launch of its xStocks on Solana, which helped it to bring more than 60 United States stocks and exchange-traded funds (ETFs) onto the blockchain. There are already tokenized stocks available for popular companies like Tesla, Apple, Nvidia, and others.
Traders can use their tokenized stocks as collateral for lending protocols such as Kamino or on decentralized exchanges such as Jupiter and Raydium.
According to rwa.xyz, the total distributed value of tokenized stocks is currently around $1.43 billion. In less than 8 months, xStocks has surpassed $25 billion in total transaction volume. Ondo Finance is currently holding up around $867 million in tokenized stock value.
The main reason behind the growth in tokenized stocks is the major progress in regulatory frameworks for digital assets. Backpack Securities is working as a regulated United States brokerage platform, which ensures that the tokenized assets are linked back to real shares in its custody.
This approach is directly linked to the regulatory frameworks decided by the Securities and Exchange Commission for tokenized securities, which allows transfer agents and broker-dealers to distribute tokenized shares on blockchain networks.
