BlackRock Tokenized Shares Arrive on Solana

Backpack Securities Adds BlackRock to Tokenized Stock Offerings on Solana

Backpack Securities has expanded its roster of tokenized stocks with the addition of BlackRock. The company announced on X that its $BLK token is now live on the Solana blockchain.

This new token provides Solana users with a blockchain-native representation of BlackRock shares. Token holders gain the ability to transfer the asset between wallets, trade it on decentralized exchanges, and operate outside the conventional trading hours of traditional stock markets.

Backpack Securities, the brokerage and tokenization division of Backpack, a platform centered around Solana, launched in June 2026 with the stated objective of enabling users to trade U.S. equities via regulated infrastructure. The core appeal lies in the post-purchase functionality: users can convert their stock holdings into tokenized versions residing on Solana, which can then be traded 24/7 on decentralized exchanges. Each token is designed to be redeemable on a 1:1 basis for its underlying share.

The introduction of the $BLK token appears to be part of a larger rollout by Backpack in collaboration with Sunrise, its partner for token issuance and trading on Solana. BlackRock had previously been identified as an anticipated addition to this initiative before the official announcement on X.

Backpack’s initial foray into tokenized stocks was with SpaceX, trading under the ticker $SPCX. This token became available on the same day SpaceX commenced trading on Nasdaq.

By September 2026, Backpack had listed approximately 200 tokenized stocks, with 20 new additions introduced in that month alone. CEO Armani Ferrante has articulated an ambition to eventually support 10,000 distinct stock symbols, a move that would encompass a significant portion of the U.S. equity market.

Ferrante’s overarching vision centers on creating a unified “plumbing” system. He aims to develop a single API that seamlessly integrates traditional brokerage functions with decentralized finance, thereby eliminating the need for developers to manually bridge these two domains.

The first half of 2026 saw tokenized stocks on Solana record over $4.9 billion in trading volume. During a specific week in 2026, tokens issued by Backpack captured 73% of the decentralized exchange market share for tokenized equities.

Unlike traditional stock markets with fixed trading hours, tokenized assets can be traded around the clock on decentralized exchanges. Backpack’s tokens are engineered for interoperability with wallet-to-wallet transfers and decentralized finance (DeFi) applications, allowing tokenized shares to be utilized within other on-chain services rather than being confined to a brokerage account.

For traders, the primary advantage is enhanced flexibility. A tokenized $BLK position can be moved, traded, or deployed on-chain at any time, while maintaining its 1:1 peg to the actual share.

However, holders of tokenized equities may encounter questions regarding the flow of entitlements such as dividends and corporate actions to the token. Liquidity also remains a consideration, as off-hours markets for individual tokenized stocks can sometimes be less robust than during primary exchange sessions.