[On-Chain Tokenized Stock Cumulative Trading Volume Surpasses $20 Billion for the First Time, SpaceX IPO as Key Driver] The capital markets commentary journal *Kobeissi Letter* posted on the X platform that SpaceX is driving a surge in tokenized asset trading. Over the past 30 days, on-chain tokenized stock trading volume reached $4.3 billion, setting a new monthly record and growing by over 140% year-to-date. Following SpaceX's IPO on June 15, the 24-hour spot trading volume of tokenized stocks on Solana exceeded $1 billion for the first time, with Solana briefly capturing 99% of the market share. Jupiter became the largest platform for tokenized SpaceX trading volume. The cumulative trading volume of on-chain tokenized stocks has surpassed $20 billion for the first time.