Backpack's tokenized SpaceX share token has crossed 10,000 onchain holders on Solana, six days after listing alongside the company's Nasdaq debut. The milestone widens the holder gap with rival xStocks' SpaceX product and lands as Backpack chief executive Armani Ferrante stakes out a structural distinction from competing onchain SpaceX exposure.
The 10,000-holder count for SPCX, the Backpack Securities-issued tokenized SpaceX share, was first surfaced Wednesday evening by Solana data trackers and approaches roughly double the 3,000-holder count reported for xStocks' SPCXx as of mid-week. Cumulative onchain volume in SPCX surpassed $350 million since the token went live, according to liquidity partner Sunrise, after the token hit $108 million in a single trailing-24-hour window on Tuesday.
SPCX is a Solana SPL token issued by Backpack Securities, the broker-dealer arm of crypto exchange Backpack. Each unit is backed one-for-one by a SpaceX share that Backpack Securities purchased and custodies in a U.S. broker-dealer account. Holders can redeem the token for the underlying share and transfer it into a traditional brokerage account via ACATS and DTCC rails, according to Backpack's product description. Sunrise, a tokenization infrastructure provider built on Wormhole, routes the issuance and liquidity onto Solana.
