SpaceX IPO Sets Record with Simultaneous Nasdaq and Solana Listings

SpaceX's highly anticipated IPO made history on June 12, listing at $135 per share and valuing the company at approximately $1.75 trillion. This record-breaking deal raised a staggering $75 billion, marking it as the largest IPO to date.

But what you might not know is that tokenized SPCX went live on Solana through Backpack Securities and Sunrise DeFi on the same day as the Nasdaq listing. This means traders gained 24/7 access to the same equity from day one, mirroring how crypto markets already function.

Backpack Securities serves as the regulated brokerage behind the SPCX token, purchasing actual SpaceX shares and holding them in custody. Each onchain SPCX token corresponds one-to-one with a real share, allowing holders to redeem their tokens for the underlying equity. This structure separates SPCX from typical synthetic stock products.

Sunrise DeFi handled the leap from issuance to Solana liquidity, bringing external assets onchain with deep liquidity from the first moment of listing. Meteora powers the liquidity layer, managing over $2 billion in total value locked and distributing SPCX into Solana's DeFi ecosystem through partners like Backpack.