Tokenized equities reached a record $3.86 billion in on-chain trading volume in June, according to CoinDesk Data. The surge was led by blockchain-based SpaceX shares after the company’s $75 billion IPO.
Tokenized equities reached a record $3.86 billion in on-chain trading volume in June, according to CoinDesk Data. The surge was led by blockchain-based SpaceX shares after the company’s $75 billion IPO.
Tokenized equities set a new monthly trading record in June, with on-chain volume rising 145% from May to $3.86 billion, according to CoinDesk Data’s latest Stablecoins & Tokenized Assets report. The increase was driven largely by demand for tokenized SpaceX shares following the aerospace company’s $75 billion initial public offering.
Tokenized equities set a new monthly trading record in June, with on-chain volume rising 145% from May to $3.86 billion, according to CoinDesk Data’s latest Stablecoins & Tokenized Assets report. The increase was driven largely by demand for tokenized SpaceX shares following the aerospace company’s $75 billion initial public offering.
The development matters because it shows how major equity-market events can quickly spill into crypto rails when tokenized versions of popular stocks are available. SpaceX-related tokens accounted for $1.19 billion of June’s total, or about 31% of all tokenized equity trading for the month.
Backpack Securities’ SPCX was the leading tokenized SpaceX instrument, generating $1.08 billion in on-chain trading volume. xStocks’ SPCXx followed with $852 million, while Backpack’s tokenized instruments as a whole reached $1.42 billion in monthly trading.
The report said established names such as Nvidia, Tesla, SPY and QQQ remained active in tokenized markets, but none matched the level of interest in SpaceX. The company’s IPO was described as the largest on record and valued SpaceX at roughly $1.8 trillion on a fully diluted basis.
The tokenized equities sector also reached a record $1.53 billion in market capitalization in June, up 6.64% from the previous month. CoinDesk Data said the increase marked the sector’s fifteenth consecutive month of growth.
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