Key takeaways
SPCXx is the tokenised version of the SpaceX stock (Nasdaq: SPCX), giving you price exposure to SpaceX, which you can buy and sell directly on Luno.
Each token is backed one-to-one by an actual SpaceX share held with a regulated custodian, so the value of SPCXx tracks the SpaceX share price. It gives price exposure, not direct share ownership, and carries no shareholder voting rights.
SPCXx is now available on Instant Buy and Sell, so you can hold it from the Luno app in fractional amounts without opening a separate brokerage account.
In June 2026, Spacex listed on the Nasdaq under the ticker SPCX, in what became the largest initial public offering in history at a valuation of around $1.77 trillion. But buying the stock directly still means opening a US brokerage account, navigating foreign exchange, and trading only when American markets are open.
SPCXx changes that. It is a tokenised version of the SpaceX stock, and it is now available to buy and sell directly on Luno. This guide explains what SPCXx is, why the case for SpaceX rests on its grip over orbital launch capacity rather than the IPO itself, how tokenised stocks compare with traditional brokerage access, the risks worth understanding, and how to buy SPCXx on Luno.
What is SPCXx and how does it track SpaceX?
SPCXx is a tokenised SpaceX product. In plain terms, it is a digital token that tracks the price of a real SpaceX share. Each token is backed one-to-one by an actual SpaceX share held by a regulated custodian, so the value of SPCXx moves in line with the value of the underlying stock.
Holding SPCXx gives you price exposure to SpaceX. It is not the same as holding the share directly through a stockbroker, and it does not give you shareholder voting rights. What it does give you is a straightforward way to follow the SpaceX share price using the Luno app you already have, built for people who want exposure to how SpaceX performs as a listed company without the admin of buying a foreign stock.
Why the orbital dominance thesis?
The IPO was the headline, but there are other reasons to pay attention. A listing is a single event. The more long-term question is whether SpaceX controls something that is genuinely hard to replicate.
SpaceX accounted for nearly 51% of all global orbital launches in 2025, completing 165 missions in a single year. The next closest single provider managed 68. Looked at by the weight carried rather than the number of flights, the gap is wider still. Its own IPO prospectus reported that SpaceX launched more than 80% of total global mass to orbit in 2025. It is a structural position built over more than a decade of reusable rocket development and vertical integration.
The launch dominance also feeds itself. Flying more often than the rest of the industry combined means lower costs per launch, more operational data, faster iteration, and deeper relationships with government and commercial customers. The revenue sits across three distinct lines:
Launch services: Commercial satellites, government payloads, and crewed missions, with pricing power that grows as launch cadence increases.
Starlink: A global satellite broadband network with a growing base of consumer, enterprise, government, and maritime subscribers, generating recurring subscription revenue at scale.
Defence and government contracts: SpaceX has become embedded in US national security infrastructure, spanning communications, reconnaissance, and access to space.
How tokenised stocks work compared with a traditional broker
If you have ever tried to buy a US-listed share from South Africa or Nigeria, you know the friction. You typically need a brokerage account that supports foreign stocks, you usually need to convert your local currency into dollars, you can usually only trade during US market hours, and settlement takes a couple of days.
A tokenised stock removes that friction. SPCXx is a token backed by a real share held in custody, which means you can buy and sell it directly on Luno, in smaller amounts than a whole share would normally require, without setting up a separate brokerage relationship.
SPCXx vs buying the SpaceX share through a broker
SPCXx on Luno | SpaceX share via a traditional broker | |
How you access it | Directly in the Luno app, alongside your other assets | A brokerage account that supports US-listed stocks or a forex account on investment platforms |
What you hold | A token giving price exposure, backed 1:1 by a real share in custody | Direct ownership of the share |
Shareholder rights | No voting rights | Voting and other shareholder rights |
Minimum size | Fractional, so you can start small | Often a whole share or broker-set minimums. Some platforms offer fractional shares |
Trading hours | Available beyond standard US market hours | Limited to US market hours |
Currency | Funded within Luno, no separate FX account to manage | Usually requires converting to US dollars |
Settlement | Almost instant | Typically a couple of days |
Risks worth understanding before you buy
The price can be volatile
SpaceX is a newly listed company with a very high valuation, and newly listed shares often move sharply in their early months. The value of SPCXx can fall as well as rise, and you could get back less than you put in.
The token price can drift from the share price
Crypto markets trade around the clock, while the underlying stock market does not. During hours when the US market is closed, the SPCXx price can move away from the last traded share price before realigning.
No shareholder rights
SPCXx does not give you voting rights, and you should not assume it behaves identically to owning the share in every respect.
None of this is a reason not to consider SPCXx. It is a reason to size any position sensibly, treat it as a long-term exposure rather than a quick trade, and only invest money you can afford to leave invested.
How to buy SPCXx on Luno
Buying SPCXx works the same way as buying any other asset on Instant Buy and Sell:
Open the Luno app and sign in. If you are new to Luno, create an account and complete the verification steps first.
Add funds to your Luno wallet using your usual deposit method.
Search for SPCXx in the app under Stocks.
Select Buy, enter the amount you want to spend, and review the order. You can buy a fractional amount, so you do not need to fund a whole share.
Confirm the purchase. SPCXx will appear in your portfolio, where you can track it and sell whenever you choose.
FAQs
What is SPCXx? SPCXx is a tokenised version of the SpaceX stock (Nasdaq: SPCX). Each token is backed one-to-one by a real SpaceX share held with a regulated custodian, and it gives you price exposure to the share rather than direct ownership.
What does SPCXx track? It tracks the price of the SpaceX share, so its value moves in line with the underlying stock.
Do I own SpaceX shares if I buy SPCXx? No. SPCXx gives you price exposure to the SpaceX share, but you do not directly own the share and you do not get shareholder voting rights.
Did SpaceX really have an IPO? Yes. SpaceX listed on the Nasdaq under the ticker SPCX on 12 June 2026, in the largest IPO on record, at a valuation of around $1.77 trillion.
Can I buy a fractional amount? Yes. You do not need to fund a whole share. You can buy SPCXx for the amount you want to spend.
How is SPCXx different from buying the SpaceX shares through a broker? A broker gives you direct ownership and shareholder rights but requires a brokerage account, currency conversion, and trading within US market hours. SPCXx gives you price exposure in a fractional, more accessible form that you can buy and sell directly on Luno.
What are the main risks? The price can be volatile, especially for a newly listed company. The token price can drift from the share price when US markets are closed. The one-to-one backing relies on a custodian and issuer, and SPCXx does not carry shareholder rights. The value of your investment can go down as well as up.
Will SPCXx rise if SpaceX shares rise? SPCXx is designed to track the SpaceX share price, so its value is intended to move with the underlying stock, up or down.
Who is SPCXx suited to? People who want price exposure to SpaceX as a listed company, in a fractional and accessible form, alongside their other assets on Luno.
How do I buy SPCXx? Open the Luno app, add funds, search for SPCXx, select Buy, enter the amount, and confirm. It will then appear in your portfolio.
