Solana Foundation President Lily Liu announced that tokenized shares of SpaceX will be available on the blockchain immediately following the company's public listing. During an interview with CNBC, Liu stated that the shares will be globally accessible via tokenization platforms, including Ondo Finance, xStocks, and Backpack Securities. This initiative aims to bridge traditional equities with decentralized finance, allowing crypto investors to gain exposure to the space giant.

Platforms and Availability

Ondo Finance confirmed the asset will be listed as SPCXon. The platform already hosts over 200 assets, including "Mag 7" stocks like Nvidia Corp. and Microsoft Corp. However, Ondo Finance's platform is not currently available to users in the U.S. Similarly, xStocks will offer a cryptocurrency derivative of SpaceX, trading under the ticker $SPCXx, on the Solana-based decentralized exchange Trojan Trading. xStocks provide price exposure to equities without conferring direct ownership and are also unavailable in the U.S.

Backpack Securities teased the launch of SPCX, a tokenized version of SpaceX equity, on the Sunrise decentralized finance platform. The firm stated it would facilitate the movement of SpaceX shares between traditional brokers and the Solana blockchain.

Broader Market Context

The move comes as competition intensifies to provide access to SpaceX's initial public offering (IPO) for cryptocurrency enthusiasts. Cryptocurrency exchange Bybit recently announced a similar tokenized offering. Additionally, perpetual futures have been launched by exchanges such as Coinbase, Binance, and Hyperliquid, allowing eligible traders to speculate on SpaceX's implied valuation and expected share price prior to the IPO.

SpaceX is preparing to launch its highly anticipated IPO on Friday. The company is reportedly aiming to raise $75 billion and is targeting a valuation of roughly $1.77 trillion.

Bitcoin is holding above the critical $60,000 level, yet some investors are rotating capital into XRP and select altcoins ahead of potential crypto legislation in Washington. This shift comes as Bitcoin ETFs have experienced significant outflows, signaling a change in institutional sentiment.

Institutional De-Risking

Speaking on Schwab Network’s Crypto Corner, Adam Lynch, director of equity research at the Schwab Center for Financial Research, said Bitcoin ETFs have experienced approximately $1.7 billion in outflows over the past week and more than $5.4 billion over the last month. Crypto investment products overall have recorded roughly $4.5 billion in outflows during the past three weeks.

The recent selling marks a sharp reversal from early May, when Bitcoin ETFs enjoyed a 10- to 12-day inflow streak. "We think this is a bit of institutional de-risking," Lynch commented. He pointed to macroeconomic concerns including inflation, interest rates, and geopolitical tensions involving Iran as factors weighing on investor sentiment. While BTC prices briefly touched the mark below $60,000 last week, Lynch highlighted that it has managed to maintain support.

Capital Rotating Into XRP And Altcoins

While BTC and ETH products have experienced heavy outflows, Lynch highlighted that other segments of the market continue attracting institutional capital.

The CLARITY Act—Next Catalyst?

Lynch described the CLARITY Act as one of the most important developments currently facing the digital asset industry. "I kind of see this as similar to when we had the big momentum behind the new Bitcoin and crypto ETFs," he said. "This could be sort of Bitcoin ETF version two."

Although prediction market odds for passage have declined from roughly 65% to around 47%, Lynch highlighted research from Galaxy Digital suggesting a 60% to 75% probability that the bill becomes law in 2026.