Episode Details

This story was originally published on HackerNoon at: https://hackernoon.com/bybit-lists-tokenized-spacex-on-spot-as-the-trillion-dollar-ipo-lands-on-crypto-rails.
Hours after SpaceX closes its first day at a $1.77 trillion valuation, Bybit lists SPCXX on spot under the xStocks framework, opening 1:1 share-backed exposure.
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SpaceX listed on Nasdaq at $135 per share on June 12, 2026, the largest IPO in history at a $1.77 trillion valuation. The stock closed +19% at $160.95 after touching $175.80 intraday. Bybit listed SPCXX, tokenized SpaceX exposure under the xStocks framework, on its Spot market at 16:20 UTC the same day, alongside a 200,000 USDT token splash prize pool. SPCXX tokens are backed 1:1 by SpaceX shares held in regulated broker-dealer custody and issued by Backed Assets (JE) Limited under the xStocks framework. Bybit is the only major exchange to list at the bell on equity-backed tokens. Coinbase International and BitMEX launched cash-settled synthetic perpetuals on June 4 and 5; Kraken launched its own xStocks-backed SPCXx on June 5. The xStocks network has processed more than $30 billion in cumulative transaction volume across 125,000-plus holders as of June 3, 2026, up from $25 billion in February. SPCXX confers no shareholder voting rights or dividend rights. Tokens are not available to US persons; access is restricted in the United States, Canada, the United Kingdom, and Australia.