SpaceX IPO powers record $3.86 billion in tokenized equities trading in June
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- Tokenized equity trading volume climbed 145% in June to a record $3.86 billion, per CoinDesk Data's Stablecoins & Tokenized Assets report.
- SpaceX tokens captured $1.19 billion, or 31% of total monthly volume, fueled by the company's $75 billion IPO — the largest on record at a roughly $1.8 trillion fully diluted valuation.
- Backpack Securities' SPCX token led all trading at $1.08 billion, while xStocks' SPCXx followed with $852 million in onchain volume.
- Backpack's full suite of tokenized instruments traded $1.42 billion for the month, with SPCX making up the lion's share.
- Established names like Nvidia, Tesla, SPY, and QQQ remained actively traded but none matched the appetite for tokenized SpaceX shares.
- The tokenized equity sector hit a record $1.53 billion market cap in June, up 6.64% month-over-month and marking 15 consecutive months of growth.
- Stablecoin market cap fell to $312 billion in June — the largest monthly drop since TerraUSD — as capital rotated into tokenized equities.
Why it matters: Tokenized SpaceX shares captured 31% of all on-chain equity trading volume in June ($1.19 billion of $3.86 billion), surpassing established names like Nvidia, Tesla, SPY, and QQQ. The sector's 15th consecutive month of growth pushed market cap to a record $1.53 billion. Backpack Securities alone moved $1.08 billion in SPCX tokens — crypto-native rails are now the dominant access point for the year's most-watched private-company stake.
