SpaceX-Linked Tokenized Products Lead Circle-Linked Peers by $8.64 Million

SpaceX-linked tokenized products (SPCX) moved ahead of Circle-linked products (CRCL) in a matched sample of 341 tokenized stocks on Nov. 12, reaching $349.35 million in circulating value and opening an $8.64 million lead.

Circle-linked products had $340.71 million, making the gap about 2.5% of their recorded value. SPCX rose 4.2% from $335.39 million over the comparison, while CRCL climbed 0.9% from $337.74 million.

The first sampled reading with SpaceX-linked products ahead came at 9:35 a.m. ET (14:35 UTC). They remained ahead in the 9:50 a.m. ET (14:50 UTC) reading. The observations show the ranking at those times but do not identify the exact moment it changed.

The comparison kept only stocks present in all three observations. The original snapshots covered 362, 404 and 400 stocks; products that became unavailable or changed composition were excluded. SpaceX-linked products’ share of tracked tokenized-stock value rose from 12.6% to 12.9% over the comparison.

These figures measure the circulating market value of tokenized products, not the stock market value of SpaceX or Circle. That value can change with token prices, circulating supply or both. The snapshots cannot separate price moves from changes in circulating supply, and they do not establish whether holder counts grew.