SpaceX Futures Surge to Second-Largest Product on Binance

The SPCXUSDT contract has recorded more than $9 billion in total trading volume since its inception. Binance currently commands the largest open interest for the asset, which hit $190.59 million per side as of June 15. The exchange maintains its dominance by adjusting contract terms to reflect SpaceX’s corporate updates, including share issuance changes that require precise position rebasing.

Retail demand remains the primary driver, with Binance reporting that over 80% of volume originates from users lacking direct access to U.S. equity markets. This appetite for equity exposure persists despite the failure of previous direct-access partnerships, such as the abandoned collaboration with xStocks. Beyond SpaceX, the exchange is scaling its broader stock-trading platform, which processed over $1 billion in turnover during its first nine days of operation in June, serving users with fractional trading options and tokenized securities like Nvidia and Tesla.