SpaceX Shares Launch on Solana as Tokenized Stock Goes Live on Blockchain

TLDR

• Backpack Securities and Sunrise have launched SPCX, a tokenized SpaceX share on Solana
• Each SPCX token is backed 1:1 by a real SpaceX share and can be redeemed through regulated brokers
• SpaceX is expected to price its IPO at $135 per share, valuing the company at around $1.75 trillion
• Solana enables 24/7 trading of SPCX outside traditional market hours
• Platforms including Ondo Finance, xStocks, and Sunrise will offer access to tokenized SpaceX shares

SpaceX is set to make its public market debut today, and for the first time, investors can access the stock both on Nasdaq and directly on a blockchain.

Backpack Securities and Sunrise have launched SPCX, a tokenized version of SpaceX shares built on the Solana network. Each token is backed 1:1 by a real SpaceX share.

SpaceX is expected to price its IPO at $135 per share. That values the company at roughly $1.75 trillion. The stock will trade under the ticker SPCX on Nasdaq.

At the same time, SPCX tokens are now available on Solana through platforms including Backpack Securities, Sunrise, Ondo Finance, and xStocks.

How the Token Works

Backpack Securities described SPCX as a tokenized right backed by an underlying SpaceX share. Eligible investors can redeem their tokens for actual shares through regulated brokerage partners.

Users can also transfer SPCX tokens across supported Solana wallets and hold them in self-custody. The structure connects standard brokerage infrastructure with blockchain-based asset storage.

Backpack CEO Armani Ferrante said the framework allows securities to move between different financial systems. Access depends on eligibility requirements and supported jurisdictions.

Solana Enables Round-the-Clock Trading

Traditional stock markets operate on fixed schedules. Solana does not. SPCX can be traded, sent, and received at any time of day.

Verified users can move between tokenized and traditional share formats through regulated brokerage channels. The companies said redemption and tokenization requests can be initiated at any time.

Solana Foundation President Lily Liu spoke about the launch on CNBC. She said that as soon as SpaceX shares are available in traditional markets, they will also be accessible on Solana.

Liu pointed to 5.5 billion internet users worldwide as potential participants in tokenized markets. She said blockchain is moving beyond speculation and becoming financial infrastructure.

Backpack and Sunrise said both markets — Nasdaq and Solana — will operate independently while staying connected through redemption mechanisms.

The launch is one of the first examples of a major company’s IPO being mirrored simultaneously on a public blockchain from day one.

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