Backpack’s native BP token jumped roughly 27% in a single day, climbing to $0.347 as the platform rolled out tokenized SpaceX equity on the same day Elon Musk’s rocket company debuted on the Nasdaq.
The timing was, to put it mildly, not accidental. Backpack Securities, the exchange’s newly formed financial arm, launched its tokenized SpaceX product, ticker SPCX, on June 12, giving users around-the-clock access to trade redeemable SpaceX shares directly on the Solana blockchain.
What actually happened
SpaceX priced its IPO at $135 per share, raising a staggering $75 billion in what became the largest public offering on record. The stock opened with intraday gains ranging from 11% to 21%, instantly making it one of the most watched tickers on the planet.
Backpack rode that wave of attention by launching its on-chain mirror of SpaceX equity simultaneously. BP token trading volume surged past $35 million on the back of the announcement, a massive spike for a token that only came into existence in late March.
