Companies involved assert that eligible shares can be converted back into tokens, establishing a connection between traditional brokerage accounts and blockchain markets.
By Margaux Nijkerk|Edited by Stephen Alpher Jun 11, 2026, 2:00 p.m. 2 min readMake preferred onKey Information:
- SpaceX's shares will commence trading on Solana on the same day the firm lists on Nasdaq, via a tokenized stock named SPCX, managed by Backpack Securities.
- SPCX can be exchanged for actual SpaceX shares and moved between traditional brokerages and Solana, demonstrating a wider trend by Sunrise and Backpack to transition U.S. stocks to onchain.
According to Sunrise, a provider of tokenization infrastructure, and Backpack Securities, a regulated brokerage and cryptocurrency trading platform, SpaceX (SPCX) shares will initiate trading on Solana simultaneously with the Nasdaq listing. The tokenized stock, SPCX, is being launched as part of this effort.
The token, created by Backpack, signifies ownership of actual SpaceX shares and can be exchanged for those shares through Backpack's brokerage service. The companies claim that eligible shares can also revert to tokens, creating a connection between traditional brokerage accounts and blockchain markets.
This launch aims to facilitate the onchain trading of newly listed U.S. equities from their first day. Backpack asserts that SPCX holders will have a direct path to redeem the underlying security.
SPCX will be available for trading on Solana 24/7, including during times when traditional markets are closed. The token can be stored in self-custody wallets and traded across various Solana-based platforms.
This announcement coincides with a growing interest in tokenizing real-world assets within the cryptocurrency sector. Stablecoins have emerged as one of the most successful applications of blockchain technology, and several companies are optimistic that equities could follow suit if tokenized shares are made available to a global investor audience.
Proponents suggest that tokenized stocks could broaden access to U.S. capital markets and allow for continuous trading. However, whether this demand will reach a scale similar to that of stablecoins remains uncertain.
Backpack CEO Armani Ferrante remarked in a press release shared with CoinDesk, "The future of tokenized equities is not just putting price exposure onchain. It is making underlying securities portable across financial systems."
Read more: Backpack launches BP token on Solana with 25% airdrop, no insider allocation
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