SpaceX Tokens Lift Off: $3.86B Record Month Has DeFi Saying "To The Moon" Literally 🚀

Tokenized equities posted record trading activity in June as investors piled into blockchain-based versions of SpaceX (SPCX) stock following the aerospace company's blockbuster initial public offering. On-chain trading volume climbed 145% from May to $3.86 billion, according to CoinDesk Data's latest Stablecoins & Tokenized Assets report.

Tokenized SpaceX shares accounted for $1.19 billion of the total, or roughly 31% of all tokenized equity trading during the month. The surge followed SpaceX's $75 billion IPO, the largest on record, which valued the company at approximately $1.8 trillion on a fully diluted basis.

Backpack Securities' SPCX token led trading among tokenized versions of the stock, posting $1.08 billion in onchain volume. It was followed by xStocks' SPCXx at $852 million. Established names including Nvidia, Tesla, SPY and QQQ remained actively traded but none matched the appetite for SpaceX exposure. Backpack's full suite of tokenized instruments traded $1.42 billion for the month, the majority of which came from SPCX.

The tokenized equity sector reached a record $1.53 billion in market capitalization in June, up 6.64% from the prior month and extending a streak of fifteen consecutive months of growth, according to the report. The category's expansion has tracked closely with rising institutional interest in onchain representations of traditional securities, though the June spike was disproportionately concentrated in a single name.

The record figures underscore how event-driven catalysts in private and pre-IPO markets are increasingly finding an onchain audience, with traders able to gain synthetic exposure to companies before or in lieu of direct share ownership through regulated tokenization platforms.