Tokenized equities trading on the Solana blockchain surpassed a significant milestone. On June 15, 24-hour spot volume exceeded $100 million for the first time.
The surge was heavily driven by a single asset. The token $SPCX, representing 1:1 ownership of SpaceX shares held in regulated custody, accounted for over 40% of that total volume.
SPCX launched on June 11-12, coinciding with SpaceX's Nasdaq listing. It recorded approximately $18.2 million in volume on its first day. By June 15, the total tokenized equity market on Solana had more than doubled its opening day performance.
Issued by the regulated broker-dealer Backpack Securities, SPCX offers investors 24/7 trading, self-custody, and the ability to redeem tokens for actual equities transferable to traditional brokerages. Backpack CEO Armani Ferrante indicates this launch is the initial step in a broader plan to expand Solana’s capital markets infrastructure.