ONDO Finance’s SPCXon surpasses $10M in tokenized market cap
Stocks
Ondo Finance launched SPCXon, a tokenized representation of SpaceX equity, achieving a $10.9 million market capitalization on its June 12 debut. The token, which mirrors the underlying SPCX share price between $153 and $157, was released simultaneously across Solana, Ethereum, and BNB Chain via the Ondo Global Markets infrastructure. This launch provided retail investors with immediate access to the highly anticipated SpaceX IPO, bypassing the traditional brokerage barriers typically associated with such exclusive offerings. Early market enthusiasm was evident, with over $1 million in trading volume recorded on BNB Chain within the first hour of availability. By enabling SPCXon to serve as collateral on the Ondo Perps platform, the protocol allows investors to maintain equity exposure while simultaneously utilizing capital for other DeFi strategies. This development highlights the growing maturity of the tokenized equity sector, which has seen industry-wide total value locked surpass $1 billion in 2026. As Ondo Finance maintains a reported 60% market share in tokenized equities, the successful deployment of SPCXon underscores the transition of real-world assets from experimental concepts to functional, high-demand financial instruments.
Key points
- ▸SPCXon reached $10.9M market cap on launch day across Solana, Ethereum, and BNB Chain.
- ▸BNB Chain recorded over $1M in trading volume within the first hour of launch.
- ▸Ondo Finance claims over 60% market share in the tokenized equities sector.
- ▸Tokenized equity industry total value locked surpassed $1B in 2026.
Background
Ondo Finance is a financial infrastructure provider that specializes in tokenizing real-world assets to bring traditional financial instruments onto public blockchains. The platform utilizes a 1:1 backing mechanism to ensure that tokens represent genuine ownership of underlying assets, such as equities or government securities. By integrating with DeFi protocols, Ondo enables these assets to be used as collateral, enhancing liquidity and utility for on-chain investors.
Relevance
8/10