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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
06/09/2026

Tokenized Equities Approach $5.5B in Volume as SpaceX IPO Access Goes Live

What happened: Tokenized equities have become the fourth-largest RWA category, with reported market cap figures reaching $5.

Tokenized Equities Approach $5.5B in Volume as SpaceX IPO Access Goes Live

What happened: Tokenized equities have become the fourth-largest RWA category, with reported market cap figures reaching $5.5 billion, although this number may reflect cumulative trading volume rather than outstanding value. Payward (Kraken’s parent) launched tokenized SpaceX IPO access via xStocks on June 5, allowing investors to trade SPCXx tokens backed 1:1 by underlying shares. The SpaceX IPO is expected on June 12, targeting a $75B raise at a $1.8T+ valuation.

Why it matters: The ability to access high-profile IPOs like SpaceX via tokenized shares is driving retail participation and expanding the reach of equity markets. However, discrepancies in reported figures (market cap vs. trading volume) highlight the need for clearer industry standards and transparency. The trend points to growing demand for onchain access to traditional assets, but regulatory scrutiny remains a wildcard.

Source: The Block