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Tokenized versions of Tesla and SpaceX shares now add up to $403 million onchain. The biggest single product is SPCXb, which accounts for $138 million of that total, according to data from Token Terminal.
In the Token Terminal data, SPCXb led at $138 million. TSLAx came next at $69 million, followed by SPCXx at $53 million and TSLAb at nearly $34 million.
SPCXb is backed 1:1 by SpaceX shares held in regulated custody. It trades on BNB Smart Chain.
The SpaceX tokens exist largely because of one event. SpaceX went public on Nasdaq, and its IPO raised approximately $85.7 billion over June 12-15, 2026.
Wallet data points in the same direction. xStocks-linked Tesla and SpaceX tokens are held in 140,174 wallets, a near eightfold increase since January 2026.
Still, scale deserves perspective. Several hundred million dollars in tokens is meaningful for a young product category. It remains a small fraction of a company whose IPO alone raised approximately $85.7 billion.
Fragmentation is another factor. Investors who want SpaceX or Tesla exposure onchain face multiple variants, including SPCXb, SPCXx, TSLAx and TSLAb. Each lives in its own wrapper, which could split liquidity across products rather than pooling it in one place.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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