Gate's tokenized SpaceX stock product, listed as SPCXx, generated more than $100 million in first-day trading volume following SpaceX's Nasdaq debut on June 13, according to CryptoQuant data shared by analyst Darkfost. The figure dwarfed every other tokenized equity listing on the platform, with Circle and Tesla reaching roughly $4 million and $3.5 million in volume respectively. The surge followed SpaceX's record-breaking initial public offering, which priced at $135 per share and sold 555,555,555 Class A shares under the SPCX ticker, becoming the largest IPO on record.
SpaceX Completes Largest IPO on Record at $135 Per Share
SpaceX priced its initial public offering at $135 per share on June 13, selling 555,555,555 Class A shares under the SPCX ticker on Nasdaq. Shares opened near $150 and closed the first session around $160.95, keeping the company's valuation above the $2 trillion mark. The offering became the largest IPO on record.
Pre-IPO demand signaled strong interest in crypto markets. Synthetic SPCX perpetual volume on other venues exceeded $500 million before the listing. Traders positioned around the debut across Hyperliquid, Bybit, and Binance, creating parallel price discovery on crypto rails days before the Nasdaq session opened.
Gate's SPCXx Tokenized Stock Outpaces Circle and Tesla in Volume
The $100 million first-day figure for SPCXx is roughly 14 times the combined volume of the next two largest tokenized stocks on Gate. Circle reached approximately $4 million in volume, while Tesla reached approximately $3.5 million. The gap shows how concentrated crypto trader interest was around the SpaceX listing.
SPCXx Product Structure and Ownership Rights
Gate's product, listed as SPCXx through its xStocks framework, is described as a 1:1-backed tokenized representation of SpaceX equity. The product gives price exposure but carries no voting or dividend rights, and does not represent direct ownership of ordinary SpaceX shares.
CFTC Chairman Comments on Commodity Derivatives Jurisdiction
"The CFTC has the expertise and responsibility to protect its exclusive jurisdiction over commodity derivatives, and that's exactly what we'll continue to do," CFTC Chairman Mike Selig said in a statement. While Selig's comments targeted prediction markets, the tokenized equities space remains far less scrutinized by federal regulators even as volume surges.
Binance Cancels SpaceX Campaign as Hyperliquid Open Interest Rises
Binance canceled a separate SpaceX IPO campaign after allocation issues. Hyperliquid's SPCX perpetual open interest briefly exceeded Binance's positioning. The activity across platforms confirms that major equity listings now generate multi-venue crypto trading events almost immediately.
FAQ
What volume did Gate's SpaceX tokenized stock generate on its first day?
Gate's tokenized SpaceX stock product, listed as SPCXx, generated more than $100 million in first-day trading volume according to CryptoQuant data shared by analyst Darkfost.
How did SpaceX price its IPO on June 13?
SpaceX priced its initial public offering at $135 per share on June 13, selling 555,555,555 Class A shares under the SPCX ticker on Nasdaq. Shares opened near $150 and closed the first session around $160.95.
What rights does Gate's SPCXx tokenized stock provide?
Gate's SPCXx is described as a 1:1-backed tokenized representation of SpaceX equity that gives price exposure but carries no voting or dividend rights and does not represent direct ownership of ordinary SpaceX shares.
