Backpack Securities' Solana-based $SPCX token tops $35M in trading volume

Backpack Securities' tokenized SpaceX product, $SPCX, recorded more than $35 million in trading volume within 24 hours of SpaceX's Nasdaq debut. The token led all tokenized-stock activity on Solana, posting over five times the volume of the next closest rival, and ranked second in liquidity across the broader tokenized-stocks market. Backpack CEO Armani Ferrante said liquidity has clustered around Backpack's tokenized equities because the platform offers a direct link between Solana and Nasdaq trading, supports buying and selling via brokerage accounts, and allows redemption into the underlying shares. Backpack Securities, launched by Backpack, is positioned as a bridge between traditional and onchain markets, enabling U.S. equities to move between brokerage platforms and blockchain environments while supporting 24/7 trading of real U.S. stocks. The $SPCX token is pegged to actual SpaceX shares, and users can deposit and withdraw tokenized stocks through Backpack Securities or transfer them to U.S.-based brokerages such as IBKR.