SpaceX Tokenized Equities Lead Solana Trading After Nasdaq Debut
Backpack Securities’ SPCX and other SpaceX tokens drive volume on Solana following the rocket maker's Nasdaq listing.
Three tokenized equity products tied to SpaceX are leading trading volume on Solana this week, following the rocket maker's public debut on the Nasdaq on June 12. The tokens represent verified, on-chain versions of SpaceX shares.
Backpack Securities’ SPCX token currently tops the group in trading activity. It is joined by an xStock version of SpaceX and a pre-IPO token that tracks the company's valuation before its listing.
- SPCX by Backpack Securities
- xStock version of SpaceX
- Pre-IPO token
Jupiter, the largest exchange aggregator on Solana, lists more than a dozen tokens under the SpaceX name. However, only the three above are verified as legitimate tokenized equity products, according to the report.
Tokenized equities allow investors to trade real-world stock equivalents on blockchain networks. Solana has become a popular venue for such assets due to its low fees and high throughput.