On June 12, 2026, SpaceX listed on the Nasdaq under the ticker SPCX and raised $75 billion at a $1.77 trillion valuation, making it the largest IPO in history. The stock closed its first day up 19%. By any measure, it was one of the most watched financial events in years.
It was also a moment that highlighted a persistent gap in how people access markets. Buying SPCX on the day it launched required a US brokerage account, a funded position, and the ability to act during regular market hours. For the majority of the world, that is not a realistic starting point.
SPCXx, the tokenized version issued by Backed Finance and available on Realmint, changes that picture.
What SpaceX actually is
SpaceX is not just a rocket company. It operates Starlink, a satellite internet network now serving tens of millions of subscribers globally and generating the majority of the company's revenue. Starlink alone is broadly considered to have been the primary driver behind the IPO valuation, with analysts treating it as a high-growth infrastructure business rather than a speculative space venture.
The rocket and launch business, including the Falcon 9 and Starship programs, is operationally profitable and captures a dominant share of commercial launch market. Starship, if it reaches the cadence SpaceX has projected, could expand that position significantly over the next decade.
The company went public as a mature business with real revenue, real margins, and a product that is now critical infrastructure for governments, enterprises, and consumers across more than 100 countries. The IPO priced that in.
The access problem
SPCX is listed on a US exchange, denominated in USD, and tradeable only during US market hours on weekdays. Buying it requires opening and funding a brokerage account, which is straightforward in the US and increasingly painful everywhere else. Depending on jurisdiction, it may involve multi-day KYC processes, FX conversion fees, and settlement delays.
For investors outside the US who wanted exposure to SpaceX on the day of the IPO, the window was effectively closed before it opened.
This is the structural gap that tokenized equities exist to fill.
What xStocks are
xStocks are tokenized stock tracker certificates issued by Backed Assets (JE) Limited, a regulated entity incorporated in Jersey. Each xStock is backed 1:1 by the underlying share, held in third-party regulated custody. The certificate tracks the performance of the underlying share and is redeemable for the equivalent cash value.
They trade 24 hours a day, 7 days a week, including weekends. xStocks are native to Solana; on Realmint you access them from USDC on Injective via cross-chain routing. There is no brokerage account required. There are no market hours. Settlement is near-instant on-chain.
SPCXx is the xStock that tracks SPCX. It launched alongside the Nasdaq listing, giving on-chain investors access to SpaceX exposure on day one.
How the tokenized version compares to the original
SPCXx tracks the SPCX share price. You are not buying a share of SpaceX in the legal sense: you hold a tracker certificate issued by Backed, which in turn holds the actual share. The economic exposure is the same. Dividends, if SpaceX ever pays them, would flow through the structure. Voting rights do not.
The tradeoffs are straightforward: you gain 24/7 access, on-chain composability, and no brokerage dependency. You give up legal ownership of the underlying share and accept Backed's custody and issuer risk instead of a conventional broker's.
For most investors outside the US, the tradeoff is clearly favorable. The alternative is not holding the share directly. It is not holding it at all.
Backed Finance issues the full xStocks catalog, which covers 140+ tokenized US equities including TSLAx, NVDAx, AAPLx, COINx, and now SPCXx. All are structured identically: 1:1 backed, Jersey-regulated, freely transferable, and redeemable. The same due diligence framework applies across the catalog.
SPCXx on Realmint
SPCXx is indexed and tradeable on Realmint, with strong backing transparency, a clear legal structure, and freely transferable on-chain mechanics. Like every Backed xStock, it is native to Solana; if you hold USDC on Injective you can access it via one-click cross-chain routing through the Realmint interface. Its Realmint Score is still being computed — check the asset page for the current breakdown.
You can view the full due diligence profile, score breakdown, live price, and trade directly from the asset page.
Check the full due diligence breakdown, live price, and trade SPCXx directly on Realmint.
View SPCXx on RealmintThis post is for informational purposes only and does not constitute investment advice. Tokenized equities carry issuer risk in addition to market risk. The Realmint Score is an experimental research tool and should not be treated as a guarantee of safety or returns. Always verify primary sources before making any investment decision.