The tokenized version of DraftKings stock, issued by Backpack Securities, recorded $39 million in trading volume within three hours of its launch on the Solana network. The DKNG token is backed 1:1 by actual shares held in custody, allowing holders to redeem tokens or move them to traditional brokerage accounts.
Solana currently dominates the on-chain tokenized equity market, accounting for over 95% of global DEX volume as of mid-2026. By early September 2026, the total supply of tokenized equities on the network reached approximately $684 million, with daily volumes occasionally exceeding $600 million.
Backpack Securities began its tokenized equity offerings in June 2026 with SpaceX shares and has since added companies such as GoPro and Moderna. These assets trade on decentralized exchanges like Raydium and Jupiter, offering 24/7 availability and near-instant settlement, which currently allows them to outperform memecoins in trading volume.
