Tesla and SpaceX xStocks Reach a Combined 140,174 Wallets

A combined 140,174 wallets hold Tesla and SpaceX xStocks, 7.9 times the January level, as the stock-linked certificates gain holders without granting them shareholder voting rights.

The count covers blockchain addresses with a balance in xStocks tied to the two companies. It is not a count of individual investors or of wallets holding Tesla and SpaceX tokens from every issuer. It also does not measure the products’ market value or trading volume.

SpaceX shares began trading June 12 under the ticker SPCX. The company closed its initial public offering June 15, raising approximately $85.7 billion in gross proceeds. Public trading gave SpaceX-linked certificates a listed share to track alongside products tied to Tesla stock.

An xStock is a tracker certificate backed by underlying shares held with custodians. The certificate provides economic exposure to a stock, but its holder does not directly own the backing share or receive a shareholder vote. Tesla xStock (TSLAx), a certificate available on multiple blockchains, uses this structure.

Binance’s SpaceX bStock (SPCXB) is also a certificate, separate from the exchange-listed SPCX share. SPCXB carries issuer, custody and liquidity risks in addition to changes in the underlying share price. Its ticker identifies a different instrument with different ownership rights from SpaceX stock.

Supported secondary markets can trade xStocks 24/7, depending on the platform. Issuance and redemption, the processes for creating and retiring the certificates, operate 24/5. Secondary trading can therefore continue during periods when those processes are unavailable, and a token’s price could differ from the underlying share price during such a period.

The distinction matters for U.S. readers comparing the tokens with the listed shares. The cited xStocks offerings and Binance’s SPCXB exclude U.S. persons. Holding one of these certificates provides exposure to a stock’s economic value, but it does not confer the voting rights that come with owning the share.