SpaceX (SPCX) shares will begin trading on Solana 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 is launching a tokenized version of the stock called SPCX.
The token, issued by Backpack, represents ownership of underlying SpaceX shares and is redeemable for those shares via Backpack’s brokerage platform. The firms say eligible shares can also be converted back into tokens, creating a bridge between traditional brokerage accounts and blockchain-based markets.
The launch attempts to bring newly listed US stocks onchain from day one. The backpack says 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. The token can be held in self-deposit wallets and traded across supported Solana-based venues.
The announcement comes as interest in real-world tokenized assets continues to grow across the crypto industry. Stablecoins have become one of blockchain’s most successful use cases, and several firms are now betting that equities can follow a similar path if tokenized shares can be made available to a global investor base.
Proponents argue that tokenized stocks could ultimately expand access to the U.S. capital markets and enable continuous trading. Whether demand develops on a scale comparable to stablecoins remains an open question.
“The future of tokenized stocks is not just putting price exposure on the chain,” Backpack CEO Armani Ferrante said in a press release shared with CoinDesk. “It makes underlying securities portable across financial systems.”
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