Tokenized SpaceX Stocks Top Solana DEX Trading After Record IPO

Tokenized SpaceX stocks are leading trading activity on Solana in the wake of the rocket maker’s record Nasdaq debut, with versions from three separate issuers now live on the network.

Tokenized SpaceX Tokens See High Demand

The SPCX token issued by Backpack Securities logged a 24-hour trading volume of $37.8 million, the highest of any stock token on Solana during the period, according to Jupiter data. xStocks’ SPCXx followed with $6.75 million over the same period, while Pre-Stocks’ SPACEX recorded $2.66 million.

The three products track the same underlying equity. Backpack’s SPCX is backed 1:1 by SpaceX shares held in custody and can be redeemed for the actual stock through its brokerage.

Meanwhile, xStocks’ SPCXx went live through two of the network’s flagship venues, Fluxion and Merchant Moe, with Fluxion supporting native minting directly from the issuer via xStocks’ Atomic Request for Quote (RFQ), a mechanism that sidesteps AMM slippage by anchoring pricing to the underlying share through issuer-direct minting and redemption at live quotes.

Other tokenized stocks also drew notably flows. The SP500 tracker SPYx posted $12.6 million in volume, while Circle’s CRCLx and Tesla’s TSLAx logged $4.93 million and $4.22 million.

Jupiter now hosts 421 stock tokens, which drew $77.7 million in 24-hour volume from 16,369 traders against total liquidity near $14.4 million, according to its website.

“The interesting metric isn’t just volume—it’s whether liquidity consolidates or stays fragmented across issuers,” one X user wrote, adding that for stock tokens, “issuer structure, redemption rights, and proof of backing may matter more than ticker demand.”

SpaceX IPO Becomes One of the Largest on Record

The trading spike across tokenized SpaceX tokens comes after the company’s initial public offering (IPO) marked one of the largest market debuts on record. SpaceX priced its IPO at $135 per share on June 12, raising about $75 billion and valuing the company at roughly $1.75 trillion.

Elon Musk became the world’s first trillionaire on Friday after SpaceX shares jumped 27% on their first day of trading, adding hundreds of billions to the company’s valuation and lifting the world’s richest person past the $1 trillion mark. His net worth had stood at nearly $780 billion before the listing.

Musk, who rang the Nasdaq opening bell alongside Gwynne Shotwell, now sits far above the rest of the super-rich, with the second-wealthiest person hovering near $300 billion. SpaceX has become the foundation of his fortune, spanning rockets, satellite communications, and AI.