Binance has expanded its tokenized stock lineup with five new bStocks while teasing a future SpaceX-linked token, adding another high-profile name to its growing real-world asset offering.
Summary
- Binance added tokenized bStocks for Circle, Nvidia, Tesla, Micron, and Sandisk on its spot market.
- The exchange teased a future SpaceX-linked token (SPCXB) as interest in the company’s IPO grows.
- SpaceX faces a lawsuit tied to Grok safety concerns, but Oppenheimer still issued a $190 price target.
According to a June 11 announcement from Binance, the exchange has introduced tokenized trading pairs tied to Circle, Nvidia, Tesla, Micron, and Sandisk through its bStocks program. The newly listed assets include CRCLB, NVDAB, TSLAB, MUB, and SNDKB, with trading rolled out on June 11.
Issued by BTech Holdings Limited, a Binance affiliate, the bStocks are structured as certificates linked to underlying financial instruments rather than direct ownership of company shares.
Binance said each token is backed by corresponding stock holdings maintained by the issuer, although holders do not receive voting rights or shareholder privileges.
As outlined by the exchange, conversions between stocks and bStocks are available at a 1:1 ratio without conversion fees.
The launch follows Binance’s recent entry into tokenized U.S. stocks and exchange-traded funds, a product category that has drawn attention from crypto traders seeking exposure to traditional markets through blockchain-based instruments.
Trading for the MUB/USDT pair opened at 17:00 UTC on June 11, while CRCLB, NVDAB, SNDKB, and TSLAB began trading one hour later, according to the company.
SpaceX enters Binance’s tokenization roadmap
Alongside the latest listings, Binance revealed plans for a future SpaceX-linked product under the ticker SPCXB. The exchange did not provide a launch date but said additional information would be released once details are confirmed.
Interest in the proposed token arrives as SpaceX prepares for one of the most closely watched public offerings of the year. Reports indicate the aerospace company is targeting a $75 billion IPO at an estimated valuation of approximately $1.75 trillion.
Around 20% of the shares could reportedly be allocated to retail investors, a notably large portion for an offering of that size. Also, less than 10% of the allocation may be reserved for international investors, pointing to a structure focused primarily on domestic participation.
Attention surrounding the listing has also extended into crypto markets. Earlier reporting by crypto.news noted that some analysts warned the offering could attract capital that might otherwise be directed toward digital assets.
Investor interest remains strong despite legal dispute
While anticipation around the IPO has continued to build, SpaceX and Elon Musk’s xAI are facing legal scrutiny following a lawsuit filed by former engineer Devin Kim in California’s Santa Clara County Superior Court.
According to the complaint, Kim alleges he was dismissed after advocating for stronger testing procedures and additional safeguards for Grok, xAI’s artificial intelligence chatbot.
The lawsuit claims the system lacked sufficient protections against misinformation, bias, and other potentially harmful outputs.
Kim is seeking compensatory damages, punitive damages, attorneys’ fees, forfeited equity compensation, and other remedies.
SpaceX was named alongside xAI in the case following the companies’ recent merger, placing the dispute in focus shortly before the planned public listing.
Even with the lawsuit drawing attention, investor sentiment has remained positive. As previously reported by crypto.news, brokerage firm Oppenheimer initiated coverage of SpaceX with an outperform rating and a $190 price target, above the company’s expected IPO price of $135.
