SpaceX shares are about to leave Earth's atmosphere and land on Solana 🚀

Tokenized shares of SpaceX will begin trading on the Solana blockchain the same day the company is expected to list on Nasdaq, according to Sunrise, a tokenization infrastructure provider, and Backpack Securities, a regulated brokerage and crypto trading platform, which are launching a tokenized version of the stock called SPCX. The token, issued by Backpack, represents ownership of underlying SpaceX shares and can be redeemed for those shares through Backpack's brokerage platform. The firms said eligible shares can also be converted back into tokens, creating a bridge between traditional brokerage accounts and blockchain-based markets.

The product is designed to bring newly listed U.S. equities onchain from day one, with Backpack stating that SPCX holders will have a direct redemption path to the underlying security. SPCX will trade on Solana around the clock, including outside traditional market hours, and the token can be held in self-custody wallets and traded across supported Solana-based venues. SpaceX's parent entity trades under the ticker SPCX.

The announcement comes as interest in tokenized real-world assets continues to expand across the crypto industry. Stablecoins have become one of blockchain's most established use cases, and several firms are now pursuing tokenized equities as a potential next category, citing the goal of making U.S. capital markets more accessible to a global investor base and enabling continuous trading. "The future of tokenized equities is not just putting price exposure onchain," Backpack CEO Armani Ferrante said in a press release shared with CoinDesk. "It is making underlying securities portable across financial systems."