Tokenized Tesla and SpaceX shares reach $364.5 million in onchain market cap

Elon Musk’s two best-known companies now have a sizable footprint on the blockchain. Tokenized shares of Tesla and SpaceX carry a combined onchain market cap of $364.5 million, according to Token Terminal data as of October 19, 2026. The numbers behind the Musk trade Token Terminal’s breakdown shows a crowded field. Several issuers offer their own wrapped versions of each stock, and each product carries a different ticker suffix. The largest single token is SPCXb, a tokenized SpaceX product valued at $138.7 million. TSLAx, a Tesla version, follows at $67.9 million. Next comes SPCXx, another SpaceX token, at $50.3 million. TSLAb rounds out the top four at $32.9 million. The research also tallies holdings across every issuer. By that count, SpaceX tokens total $244.3 million spread over seven issuers. Tesla tokens add up to $130.8 million across six issuers. Adoption is climbing fast. Some 140,174 wallets now hold versions of these tokens, a 7.9-fold increase since January 2026. Why SpaceX tokens are pulling ahead Timing helps explain the SpaceX lead. The company completed its IPO in June 2026, which the research says set its valuation at approximately $75 billion. That listing coinc...