Three tokenized SpaceX products are leading stock-token trading on Solana following the rocket company’s June 12 Nasdaq debut. Backpack Securities’ SPCX ranks first, followed by xStocks’ SPCXx and PreStocks’ SPACEX.
Jupiter lists more than a dozen tokens using the SpaceX name. Yet only a few are verified tokenized equity products with stated backing or conversion terms. The three leading tokens also have different liquidity levels, redemption rules and ownership structures.
Backpack Securities launched SPCX on Solana on the same day SpaceX began trading on Nasdaq. The regulated US broker-dealer says each token represents an underlying SpaceX share held through its brokerage platform.
Eligible holders can redeem SPCX tokens for SpaceX shares through Backpack. Investors with qualifying shares can also convert them into SPCX tokens. As a result, users can trade the token on Solana at any time, including outside regular Nasdaq hours.
Jupiter data shows SPCX leading all verified SpaceX tokens on Solana. The token recorded $37.8 million in 24-hour trading volume and held about $2.5 million in liquidity. It also had nearly 5,900 holders and a market value of approximately $7.6 million.
Higher liquidity can make it easier for buyers and sellers to complete transactions without causing sharp price changes. SPCX has more available liquidity than the other verified SpaceX tokens listed on Jupiter.
Backed Finance issues SPCXx through its xStocks platform. The token tracks publicly traded SpaceX shares and traded near $166 at the time of reporting.
SPCXx ranked second among verified SpaceX tokens on Jupiter. It recorded $6.75 million in 24-hour volume, while its available liquidity stood near $236,000. More than 3,000 wallets held the token.
The product trades through Solana platforms that include Fluxion and Merchant Moe. Fluxion allows users to mint tokens directly from the issuer through its Atomic Request for Quote system.
This system uses live SpaceX share prices when processing token purchases and redemptions. It does not depend only on prices set by automated trading pools.
Other tokenized stocks also attracted trading activity on Solana. SPYx recorded $12.6 million in daily volume. Meanwhile, CRCLx posted $4.93 million, while TSLAx generated $4.22 million.
Jupiter listed 421 stock tokens with a combined daily volume of $77.7 million. About 16,369 traders used these markets, while total available liquidity stood near $14.4 million.
PreStocks’ SPACEX token provides exposure through a special-purpose company linked to SpaceX’s private-market shares. The token recorded $2.66 million in 24-hour trading volume and had about $158,000 in liquidity.
SPACEX had approximately 12,600 holders, giving it the largest holder count among the three products. PreStocks says holders can exchange the token for a tokenized version of publicly traded SpaceX shares.
The conversion accounts for SpaceX’s five-for-one stock split. Holders must complete the exchange before midnight UTC on March 12, 2027. PreStocks warns that tokens left unchanged after the deadline will expire without value.
Questions remain over whether trading activity will gather around one SpaceX token or stay divided among several issuers. One market participant wrote, ‘The interesting metric isn’t just volume—it’s whether liquidity consolidates or stays fragmented across issuers.’
The market participant also said that ‘issuer structure, redemption rights, and proof of backing may matter more than ticker demand.’ The statement points to clear differences between the three tokens despite their links to the same SpaceX stock.
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