Houston, We Have a Token Problem: SpaceX Shares Touch Down on Solana

Tokenized shares of SpaceX have become the most actively traded stock tokens on Solana following the rocket maker's record Nasdaq debut, with three separate issuer versions now live across the network. Backpack Securities' SPCX led the category with $37.8 million in 24-hour trading volume, according to Jupiter data, outpacing xStocks' SPCXx at $6.75 million and Pre-Stocks' SPACEX at $2.66 million over the same window. All 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. 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 anchors pricing to the underlying share through issuer-direct minting and redemption at live quotes, sidestepping AMM slippage.

Other tokenized equities also drew notable flows on the network. 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, respectively. 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 trading activity follows SpaceX's $75 billion Nasdaq debut, which made Elon Musk the world's first trillionaire, a milestone that has fueled demand for onchain exposure to a company whose shares remain outside the reach of most retail brokerage accounts.