Within 24 hours of SpaceX’s Nasdaq listing, the $SPCX token issued by Backpack Securities achieved trading volume exceeding $35 million, leading all tokenized stock trading on the Solana platform—more than five times the volume of its next closest competitor—and ranking second in liquidity among all tokenized stocks. Armani Ferrante, CEO of Backpack, stated that liquidity is concentrated on Backpack’s tokenized stocks because it is the only tokenized stock that enables seamless trading between Solana and Nasdaq, allows buying and selling through brokerage accounts, and permits redemption of the underlying securities. Backpack Securities, launched by Backpack, aims to bridge traditional and tokenized stock trading, enabling coexistence of real stocks between brokerage platforms and on-chain environments while supporting 24/7 trading of actual U.S. equities. The $SPCX token is pegged to actual SpaceX shares, allowing users to deposit and withdraw tokenized stocks to and from Backpack Securities, as well as transfer them to U.S.-based brokerages such as IBKR.
Backpack Securities' $SPCX token volume exceeds $35 million on Solana.
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Summary
Backpack Securities' $SPCX token surpassed $35 million in 24-hour trading volume following SpaceX’s Nasdaq listing. The token leads in transaction volume on Solana, outpacing the next largest by more than five times, and ranks second in liquidity among tokenized stocks. $SPCX enables on-chain trading of actual SpaceX shares and supports transfers to U.S. brokers such as IBKR. Trading and transaction volumes remain robust as Backpack connects the Nasdaq and Solana markets.
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