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 crypto brokerage and trading platform, which are launching a tokenized version of the stock called SPCX.
The token, issued by Backpack, represents ownership of the underlying SpaceX shares and can be exchanged for those shares through Backpack’s brokerage platform. The companies 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 online on day one. Backpack indicates that SPCX holders will have a direct redemption path to the underlying security.
SPCX will trade on Solana 24 hours a day, including outside of traditional market hours. The token can be held in self-custodial wallets and traded on supported Solana-based sites.
This announcement comes as interest in real-world tokenized assets continues to grow in the crypto sector. Stablecoins have become one of blockchain’s most successful use cases, and several companies are now betting that stocks could follow a similar path if tokenized shares could be made accessible to a global investor base.
Supporters argue that tokenized shares could ultimately expand access to U.S. capital markets and enable seamless trading. Whether demand will grow on a scale comparable to that of stablecoins remains open.
“The future of tokenized stocks is not just about on-chain price exposure,” said Armani Ferrante, CEO of Backpack, in a press release shared with CoinDesk. “This makes the underlying securities transferable across financial systems.”
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