SpaceX prices its IPO today at $135 per share. Tomorrow, June 12, the stock trades publicly on Nasdaq under the ticker SPCX. The deal values Elon Musk’s rocket, Starlink, and xAI group at roughly $1.75 trillion. Additionally, it raises about $75 billion, making it the largest IPO on record. However, the Nasdaq listing is only half of the story. The same day, tokenized SPCX goes live on Solana through Backpack Securities and Sunrise DeFi. As a result, traders gain 24/7 onchain access to the same equity from day one.
Every $SPCX is backed by a real SpaceX share, redeemable 1:1 into your brokerage account through @Backpack Securities$SPCX will trade 24/7 on @Solana via @sunrisedefi after Friday’s IPO https://t.co/9CjRxELX3X
— Solana (@solana) June 11, 2026
Backpack Securities Issues SPCX with Real Share Backing
Backpack Securities serves as the regulated brokerage behind the SPCX token. The firm purchases actual SpaceX shares and holds them in custody. Each onchain SPCX token therefore corresponds one-to-one with a real share. Importantly, holders can redeem the token for the underlying SpaceX equity. After redemption, holders can move those shares into a traditional brokerage account. This structure separates SPCX from typical synthetic stock products. Backpack also supports standard settlement rails like ACATS and DTCC for the underlying trades. Consequently, the same asset moves through both Wall Street and Solana DeFi.
Sunrise DeFi Routes SpaceX onto Solana
Sunrise DeFi handles the leap from issuance to Solana liquidity. The protocol, built on Wormhole, acts as Solana’s asset gateway for new tokens. Specifically, it brings external assets onchain with deep liquidity from the first moment of listing. Sunrise previously routed launches for MON, HYPE, AVAX, and Backpack’s own BP token. Across six launches, it has coordinated more than $360 million in spot volume. For SPCX, Sunrise carries the same role and brings the asset to Solana DeFi on day one. Meanwhile, traders, wallets, and protocols receive SPCX simultaneously across the ecosystem. This removes the usual delay between a tokenized asset launching and finding tradable markets.
SpaceX is going public on Solana via @sunrisedefi.
— Meteora (@MeteoraAG) June 11, 2026
New assets. New markets. Powered by Meteora's liquidity pools.
Full details below. https://t.co/7wxBKyD8Z6
Meteora Powers the Liquidity Layer
Liquidity sits at the center of any tokenized equity launch. Sunrise distributes SPCX into Solana’s DeFi ecosystem through partners that include Meteora. Notably, Meteora runs one of the largest dynamic liquidity protocols on Solana. The platform currently manages more than $2 billion in total value locked. Its dynamic pools concentrate capital around live prices, which reduces slippage on swaps. As a result, traders can buy and sell SPCX with tight spreads from the open. Meteora also lets liquidity providers earn fees on SPCX pairs against USDC and SOL. Together, this combination gives SPCX deep markets without waiting for organic liquidity to build.
Tokenized SpaceX Trades Around the Clock
Onchain SPCX trades 24/7, not just during Nasdaq hours. Markets settle continuously through weekends, holidays, and every time zone. Self-custody wallets like Backpack, Phantom, and Solflare hold the token directly. Meanwhile, Solana DEXs and lending protocols can integrate SPCX as a tradable asset. DeFi composability also opens the door for SPCX as collateral in onchain credit markets. This continuous access mirrors how crypto markets already function. However, it now extends to a $1.75 trillion company on its Nasdaq debut day.
A New Template for Public Equity on Solana
SPCX joins a growing list of tokenized stocks on Solana. Solana’s real-world asset market reached more than $2.5 billion earlier this year. Additionally, tokenized equity products like xStocks already trade across major exchanges and DeFi venues. Galaxy Digital has tokenized its own GLXY stock on Solana through Superstate. SPCX, however, brings something distinct, a same-day onchain market for an IPO of this size. The combination of Backpack Securities, Sunrise DeFi, and Meteora forms a template for future launches. Looking ahead, expect more public equities to follow this exact path onto Solana.
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