SpaceX IPO powers record $3.86 billion in tokenized equities trading in June

Markets SpaceX IPO powers record $3.86 billion in tokenized equities trading in June SpaceX tokens captured $1.19 billion, or 31% of total monthly volume, with Backpack’s SPCX leading trading at $1.08 billion. By Francisco Rodrigues | Edited by Stephen Alpher Jul 7, 2026, 4:18 p.m. 1 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Summary Show Onchain tokenized-equity volume surged 145% in June to a record $3.86 billion, heavily driven by interest in tokenized SpaceX (SPCX) shares. SpaceX tokens captured $1.19 billion, or 31% of total monthly volume, with Backpack’s SPCX leading trading at $1.08 billion. The sector hit a record $1.53 billion market cap in June, marking 15 consecutive months of growth following SpaceX’s massive $75 billion IPO. Tokenized equities posted record trading activity in June as investors piled into blockchain-based versions of SpaceX (SPCX) stock following the aerospace company's blockbuster initial public offering. On-chain trading volume climbed 145% from May to $3.86 billion, according to CoinDesk Data’s latest Stablecoins & Tokenized Assets report. Tokenized SpaceX shares accounted for $1.19 billion of the total, or about 31% of all tokenized equity trading during the month. The surge followed SpaceX's $75 billion IPO, the largest on record, which valued the company at roughly $1.8 trillion on a fully diluted basis. Backpack Securities’ SPCX token was the most popular tokenized version of the stock, with $1.08 billion in onchain trading volume, followed by xStocks’ SPCXx, which reached $852 million. The figures point to a change in what is driving demand for tokenized equities. Established names like Nvidia, Tesla, SPY and QQQ remained actively traded, but none matched the interest in SpaceX. For context, Backpack’s tokenized instruments traded $1.42 billion for the month, the lion’s share of which was in SPCX tokens. The sector reached a record $1.53 billion in market capitalization during June, up 6.64% from the previous month and marking its fifteenth straight month of growth, the report adds. On-chain Data Tokenization Latest Crypto News 1 U.S. SEC to propose crypto rule as soon as this month to ease startups, fundraising 10 minutes ago 2 Analysts see more upside for SpaceX as post-IPO research begins 1 hour ago 3 Vanguard opens search for digital assets leader in sign of evolving crypto strategy 1 hour ago 4 AI trade loses steam as infrastructure boom faces reality check 2 hours ago 5 EDX Markets raises $76 million in funding round led by SBI Holdings 2 hours ago 6 Former Tether investment chief is looking to sell part of his stake in the stablecoin giant: Bloomberg 2 hours ago 7 Bitcoin, XRP draw Japanese firms as weak yen drives treasury diversification 2 hours ago 8 Coinbase secures UK authorization to offer traditional investments alongside crypto 4 hours ago 9 Bitcoin's July gains may be fleeting as U.S. demand stays weak 4 hours ago 10 Bitcoin stalls as open interest decline raises questions about rally's staying power 5 hours ago Latest Research SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. By CoinDesk Research 3 hours ago Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. Why it matters : Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. View Full Report More From Markets Analysts see more upside for SpaceX as post-IPO research begins Vanguard opens search for digital assets leader in sign of evolving crypto strategy AI trade loses steam as infrastructure boom faces reality check