- Backpack Securities has announced the launch of SpaceX token shares on the Solana blockchain via SunriseDeFi.
- This announcement comes one day before the largest initial public offering in history for SpaceX, as the company plans to launch it on the Nasdaq stock exchange under the symbol “SPCX” on June 12.
- The announcement comes amid a boom in the token stock market, which has risen by more than $1.4 billion thanks to increasing regulatory developments.
On June 11, Backpack, a leading cryptocurrency exchange on Solana, announced that the SpaceX token $SPCX stake is now available on Solana via SunriseDeFi. The announcement comes as SpaceX will debut on the Nasdaq under the ticker SPCX on June 12.
SpaceX token shares SPCX are being launched on Solana via Backpack Securities
This SPCX token will be issued by Backpack Securities, a regulated platform for the Solana-based Backpack ecosystem. This preferred stock issued on Solana will represent a 1:1 ownership of the actual stock issued by a public company.
This announcement will allow users to transact funds in and out of regular brokerage accounts and Solana wallets. They can trade these token shares on the blockchain-based platform at any time.
Backpack Securities also confirmed its launch with SunriseDeFi, an asset gateway developed by Wormhole Labs. Sunrise is also a major platform that provides support for creating official marketplaces on Solana.
SpaceX is planning one of the largest initial public offerings in the company’s history. The company decided to keep the IPO price at $135 per share, which will help the company get a valuation of about $1.77 trillion. It is expected to raise about $75 billion, which will help it surpass previous records such as the listing of Saudi Aramco. The company filed paperwork with the US Securities and Exchange Commission (SEC) in May 2026. This IPO has generated excitement among investors, and some reports indicate a significant oversubscription.
There is a buzz around this IPO among retail investors as 30% of the shares have been allotted to it. Apart from this, Goldman Sachs is leading the underwriting process for the deal.
The largest IPO in history comes amid the boom in… Token securitiesThis is thanks to increased regulatory clarity around it under the leadership of pro-crypto US President Donald Trump. The SpaceX token will allow cryptocurrency holders to identify the rocket and satellite company through digital tokens.
Solana has become a leading blockchain for tokenized shares. In 2025, Backed Finance announced the launch of xStocks on Solana, helping it bring more than 60 US stocks and exchange-traded funds (ETFs) to the blockchain. There are already tokenized shares available for popular companies like Tesla, Apple, Nvidia, and others.
Traders can use their token shares as collateral on lending protocols like Kamino or on decentralized exchanges like Jupiter and Raydium.
according to rwa.xyzThe total distributed value of the token shares is currently approximately $1.43 billion. In less than 8 months, xStocks has surpassed $25 billion in total transaction volume. Ondo Finance currently holds approximately $867 million worth of token shares.
The main reason behind the growth of token stocks is the significant progress in regulatory frameworks for digital assets. Backpack Securities operates as a regulated brokerage firm in the United States. This ensures that tokenized assets are linked to the real shares in their custody.
This approach is directly linked to the regulatory frameworks decided by the Council Securities and Exchange Commission For tokenized securities, transfer agents and brokers can help them distribute shares on the blockchain.
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