SpaceX Stock to Trade on Solana as Tokenized SPCX
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- SpaceX shares will begin trading on Solana as a token called SPCX the same day the company lists on Nasdaq, issued by Backpack Securities with tokenization infrastructure from Sunrise.
- SPCX holders get a direct redemption path back to underlying SpaceX shares through Backpack's brokerage, and eligible shares can be converted back into tokens — creating a two-way bridge between traditional brokerages and Solana.
- The token will trade around the clock on Solana, including outside traditional market hours, and can be held in self-custody wallets and routed across supported Solana-based venues.
- Backpack CEO Armani Ferrante framed the launch as making "underlying securities portable across financial systems," with the explicit goal of bringing newly listed U.S. equities onchain from day one.
- Sunrise and Backpack are positioning the launch as part of a broader push into tokenized real-world assets, citing stablecoins as blockchain's most successful use case and betting equities could follow if accessible to a global investor base.
- The source flags that whether demand develops "at a scale comparable to stablecoins remains an open question," even as advocates argue tokenized stocks could expand access to U.S. capital markets and enable continuous trading.
Why it matters: SpaceX shareholders gain 24/7 trading and self-custody access on Solana from day one of the Nasdaq listing, and Backpack and Sunrise become the first to tokenize a stock at its IPO. The open question the source itself flags: whether tokenized equity demand ever reaches stablecoin-level scale.
