Binance has launched tokenized SpaceX shares as trading demand pushes the company’s valuation above $3 trillion and drives a surge in SpaceX-linked crypto products.
According to a June 12 announcement from Binance, the exchange has listed $SPCXB, a tokenized version of SpaceX stock, on its spot market, with trading for the $SPCXB/USDT pair going live at 17:00 UTC.
Binance also enabled automated trading tools for the new pair from launch and introduced a zero maker fee promotion that will remain in effect through the end of August 2026.
A few days after trading opened, deposits and withdrawals for the token became available, allowing users to move the asset on and off the platform.
The listing arrives as investor interest in SpaceX-related products continues to grow across both traditional and crypto markets. According to Binance data cited in its announcement, the exchange now controls more than 60% of the market for SpaceX perpetual futures trading.
SpaceX products dominate Binance trading activity
Activity in derivatives markets has increased even faster than spot demand. Binance data shows that its SPCXUSDT perpetual futures contract has become the second-most traded futures product on the platform, ranking behind only Bitcoin futures.
The rapid rise in trading volumes highlights strong demand from traders seeking exposure to SpaceX through crypto-native products. Binance has increasingly expanded its tokenized equity lineup as investors look for alternative ways to access high-profile technology and private-market companies.
Recent additions to the exchange’s bStocks program include tokenized versions of Circle, Nvidia, Tesla, Micron, and Sandisk. The SpaceX launch adds one of the world’s most closely watched private companies to that growing list.
Competition intensifies in tokenized equity markets
The rollout also comes shortly after rival exchanges encountered difficulties offering SpaceX-linked tokenized products.
As previously reported by crypto.news, Coinbase recently launched tokenized shares backed one-for-one by underlying stock for companies including SpaceX, Nvidia, Google, Strategy, and Bitmine.
According to Coinbase, those assets provide direct ownership rights, allow holders to receive dividends linked to the underlying shares, and can be bought, sold, redeemed, and held on-chain.
Coinbase’s launch followed problems faced by competing platforms during the highly anticipated SpaceX public listing. Binance and Bybit had earlier promoted SpaceX-related tokenized offerings, but those initiatives were later withdrawn after tokenization provider xStocks failed to deliver the underlying SPCX shares required to support the products.
Positioning its own service differently, Coinbase stated that its infrastructure was designed to support ownership rights and dividend payments through fully backed tokenized equities.
Meanwhile, enthusiasm surrounding SpaceX remained strong. According to Yahoo Finance data, SpaceX shares traded around $206.44, up roughly 5% on the session after earlier climbing as much as 17.2% to an intraday high of $225.64. The stock also touched a session low of $195.13 before giving back part of its gains.
The move briefly lifted SpaceX’s valuation above $3 trillion, extending the gains recorded since its public market debut and further increasing the value of Elon Musk’s stake in the company.
