Tokenized Equities Break Records: SpaceX's IPO Triggers $3.86 Billion in Trading Volume

Tokenized equities have reached a record trading volume in June, with investors flocking to blockchain-based versions of SpaceX stock following the aerospace company's blockbuster initial public offering. On-chain trading volume surged 145% 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. This increase 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 on-chain trading volume, followed by xStocks' SPCXx, which reached $852 million. These 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. Stablecoin market cap fell to $312 billion in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86 billion. The Future of Tokenized Equities: A New Era of Investment