TechFlow reported on June 13 that, within 24 hours of SpaceX’s Nasdaq listing, the $SPCX token issued by Backpack Securities exceeded $35 million in trading volume. Among related tokenized stock trading activity on Solana, $SPCX ranked ahead by volume and recorded more than five times the trading volume of the next $SPCX competitor.
The token also ranked highly in liquidity. According to the information provided, $SPCX placed second in liquidity across all tokenized stocks, while maintaining the leading trading-volume position among Solana-based tokenized stock products tied to the same category.
$SPCX Leads Related Tokenized Stock Trading on Solana
Backpack CEO Armani Ferrante said liquidity has concentrated in Backpack’s tokenized stocks because the product is the only tokenized stock that allows circular trading between Solana and Nasdaq. It can be bought and sold through brokerage accounts, and holders can redeem the underlying securities.
Backpack Securities Links Brokerage Accounts and On-Chain Markets
Backpack Securities was launched by Backpack to combine traditional stock trading with tokenized stock trading. Its stated aim is to support the coexistence of real equities in both brokerage and on-chain environments, while enabling 24/7 trading of real U.S. stocks.
The $SPCX token is linked to actual SpaceX shares. Users can deposit or withdraw on-chain stock positions into Backpack Securities, and they can also transfer them to U.S. brokerages such as IBKR. This structure creates a path for tokenized shares to move between an on-chain environment and brokerage-based securities infrastructure.