Tokenized stocks posted record trading activity in June as investors piled into blockchain-based versions of SpaceX ( SPCX ) shares following the airline’s blockbuster IPO.
On-chain trading volume rose 145% from May to $3.86 billion, according to CoinDesk Data’s latest Stablecoins & Tokenized Assets report. Tokenized SpaceX stock accounted for $1.19 billion of the total, or about 31% of all tokenized stock trading during the month.
The increase followed SpaceX’s $75 billion IPO, the largest ever, which valued the company at about $1.8 trillion on a fully diluted basis.
Backpack Securities’ SPCX token was the most popular tokenized version of the stock with $1.08 billion in onchain trading volume, followed by xStocks’ SPCXx, which reached $852 million.
The numbers point to a change in what is driving demand for tokenized shares. Established names such as Nvidia, Tesla, SPY and QQQ remained actively traded, but none matched the interest of SpaceX. For context, Backpack’s tokenized instruments traded $1.42 billion for the month, the majority of which was in SPCX tokens.
The sector reached a record $1.53 billion in market capitalization during June, up 6.64% from the previous month and marking its fifteenth consecutive month of growth, the report added.
