When SpaceX begins trading on Nasdaq on June 12, its stock will be available on Solana the same day, tradeable around the clock, from anywhere in the world.
Sunrise and Backpack Securities are launching SPCX, a tokenized version of SpaceX shares, on Solana’s blockchain on the same day as the IPO
Unlike most tokenized stocks, SPCX can be redeemed for the actual underlying SpaceX shares, and then transferred to a traditional stock brokerage. “The future of tokenized equities is not just putting price exposure onchain. It is making underlying securities portable across financial systems,” said Armani Ferrante, CEO of Backpack. “Backpack Securities was built for that: users can on- and off-ramp securities between traditional brokerages and Solana through Backpack. With SPCX, onchain markets gain access to tokenized equity with a direct path back to the underlying security.” What makes this different Most tokenized stocks give holders price exposure only, they track the stock’s value but cannot be converted into real shares.
SPCX works differently. Holders can deposit tokenized SPCX into Backpack, redeem it for actual SpaceX shares, and move those shares to their existing brokerage accounts. The path runs both ways, with eligible shares convertible back into tokenized SPCX.