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Launched on Bybit Alpha in June 2026, SPCX provides on-chain access to a tokenized SpaceX equity position without requiring an external wallet, gas fee management or other decentralized technicalities. Your existing Bybit Unified Trading Account (UTA) handles all operations for the asset, including funding, execution and settlement. This guide examines what the tokenized asset actually is, where it sits relative to Bybit's other SpaceX products and how to place your first trade.
Key Takeaways:
SPCX on Bybit Alpha is a Solana-based, on-chain token that provides exposure to SpaceX equity performance. You can buy and sell it directly from your UTA using Tether (USDT), USDC (USDC), Solana (SOL) or Bybit Staked SOL (BBSOL).
Positions opened through Bybit Alpha are closed by selling back through the same interface; external withdrawal to a personal wallet is not available.
Backed Assets (JE) Limited issues SPCX as a 1:1 tokenized representation of SpaceX common stock, deployed on Solana at the following contract address:
SPCXxcqXj6e5dJDVNovHN8744zkbhM2bYudU45BimGb
The asset is quite similar, though with certain distinctions, to SPCXX listed on Bybit Spot. It features the same issuer, backing ratio and underlying equity.
SPCXX on Spot trades through a conventional order book. It supports external transfers via Solana or Mantle (MNT), so you can move tokens in and out of your wallet. In contrast, SPCX Alpha trades execute on-chain through an interface tied to your UTA, and settlement automatically flows back into your account. However, tokens acquired through Bybit Alpha are locked to the platform, and can only be exited by selling back into a supported currency, such as USDT, USDC, SOL or BBSOL.
SPCX TradFi, another asset on Bybit linked to the SpaceX stock, operates on different terms altogether. It’s a leveraged CFD that tracks SpaceX price exposure, with no tokenized equity or on-chain component behind it.
From the Bybit homepage, go to Trade in the top navigation bar. Select Alpha → Trade.
On the default trading screen, type SPCX into the search box in the upper-left corner and select the SPCX ticker to be taken to the asset’s Alpha trading page.
In the right-side order panel, select the Buy tab, choose your order type, pick a payment currency, enter the amount you want to spend and click on the Buy button at the bottom to execute your trade.
To sell it back into one of the four supported cryptos, choose the Sell tab in the same trading interface, select your order type, enter the SPCX amount you wish to sell and click on the Sell button at the bottom. The proceeds are automatically credited to your UTA.
For a full explanation of how xStocks work on Bybit Spot and Bybit Alpha, see Trading xStocks on Bybit: The complete guide to on-chain equities.
Holding SPCX through Bybit Alpha means holding a tokenized claim, not direct equity. The token's price reflects on-chain secondary market demand, which can deviate from underlying SpaceX stock price depending upon liquidity depth and trading activity at any given time.
Backed Assets (JE) Limited maintains the 1:1 backing, so there’s counterparty exposure to the issuer. Any disruption to the peg mechanism affects token value, regardless of what SpaceX stock does.
Beyond issuer risk, on-chain execution carries its own risks. Smart contract vulnerabilities, network congestion or failed transactions are real possibilities.
Liquidity is the exit constraint to watch out for. You cannot withdraw SPCX purchased through Bybit Alpha to an external wallet. When on-chain liquidity is thin, closing a position near the mid-market price may not be possible.
Current promotion: Eligible Bybit users may also participate in the SPCX Token Splash event to earn a share of the 100,000 USDT prize pool. Check the event page for the campaign period, eligibility and terms.
Bybit Alpha removes the usual friction around on-chain trading. It requires no wallet configuration or gas fee management. and offers direct access to SPCX from your existing account. SPCX has a distinct profile that sets it apart from Bybit's order book xStock and its TradFi CFD. Understanding these differences is crucial before you commit your capital.
Visit Bybit Alpha to trade SPCX and other on-chain assets directly via your UTA.
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