$SPCXB is an interesting RWA bet, but there’s a lot to prove The SpaceX tokenized stock story has two very different sides. On one hand, SpaceX’s growth, Starlink expansion and DeFi integrations like using SPCXB as collateral could create real demand. On the other hand, the token is still exposed to regulatory uncertainty, custody risks and the execution of the tokenization infrastructure itself. That’s what makes SPCXB interesting to me. The underlying asset can be great, but the bridge between that asset and the blockchain has to be just as trustworthy. For me, the biggest question isn’t whether SpaceX succeeds. It’s whether tokenized equities can build enough trust to become a lasting market. #Macro Insights#