Ferrari Tokenized Shares Launch on Solana

Luxury on the Blockchain: Ferrari Shares Now Tradeable on Solana

Owning a piece of Ferrari, the iconic Italian automaker, traditionally required a substantial bank account, a lengthy waiting list, and considerable patience. Now, acquiring a sliver of the company behind these coveted vehicles is as simple as opening a Solana wallet.

Tokenized shares of Ferrari NV, trading under the ticker $RACE, have become available on the Solana blockchain via the Sunrise asset gateway, with Backpack acting as the issuer. This launch, effective October 6, 2026, marks the addition of one of the world’s most recognizable luxury brands to an expanding ecosystem of on-chain equities.

Each $RACE token is backed on a 1:1 basis by an actual Ferrari share, held in regulated custody. Backpack Securities, serving as the issuer, allows token holders to redeem their digital assets back into traditional stock entitlements.

The token’s contract address is RACEyWiM2ztEZcJx2AHXU2eWjhxU57x3vXn92b39dLD. Prospective buyers are advised to verify this string to ensure they are acquiring the genuine asset.

Sunrise is responsible for the distribution of these tokens, with its gateway designed to integrate tokenized stocks seamlessly into cryptocurrency wallets and decentralized exchanges (DEXs). DEXs are trading platforms where users can exchange tokens directly, bypassing traditional brokerage intermediaries.

Trading is accessible on supported platforms including Phantom, Jupiter, and Raydium, operating 24 hours a day, seven days a week. The tokens are engineered to be eligible for dividends and corporate actions, mirroring the rights of traditional shareholders.

This move by Ferrari follows a broader trend of major companies entering the tokenized asset space. The $RACE launch is part of an ongoing partnership that began with the tokenization of SpaceX shares in June 2026. Backpack Securities has ambitious plans to grow the number of tokenized stock symbols on Solana, aiming to increase the current figure of 200 to a target of 10,000.

Several key aspects warrant close observation as this initiative unfolds. Firstly, the development of meaningful trading activity for $RACE on Solana DEXs will be crucial. Tokens with low trading volume often struggle to deliver the promised liquidity.

Secondly, the practical execution of the redemption process through Backpack Securities will be a significant test. The 1:1 backing is the cornerstone of this product, and investor confidence hinges on the ability to convert tokens back into traditional stock entitlements when desired.

Thirdly, the mechanisms for passing through dividends and corporate actions to token holders will be closely monitored. Finally, the implications of round-the-clock trading present a unique challenge: as the token continues to trade when the underlying stock market is closed, its price alignment with the real-world share during those off-hours will serve as a revealing indicator of the model’s robustness.