A tokenized version of DraftKings stock recorded $39 million in trading volume within three hours of launching on Solana. Issued through Backpack Securities, the DKNG token is fully backed 1:1 by DraftKings shares held in custody, and holders can redeem the tokens or transfer them to traditional brokerage accounts. Solana’s tokenized equity market has expanded rapidly: daily volumes have exceeded $600 million at points in 2026, and total tokenized equity supply reached approximately $684 million by early September 2026. The network accounted for more than 95% of global on-chain tokenized equity DEX volume through mid-2026. Backpack Securities launched its first tokenized equity, based on SpaceX shares, in June 2026 and later added GoPro and Moderna. Unlike traditional stock markets, which operate about six and a half hours a day, five days a week, tokenized equities on Solana trade 24/7, settle near-instantly and offer low transaction costs. Their rising volume relative to memecoins, along with redemption rights and access through brokerage accounts, suggests tokenized stocks are attracting a broader investor base. Solana’s dominance also raises competitive questions for other Layer 1 networks, including Ethereum, which has positioned itself as the institutional chain of choice but has yet to capture meaningful tokenized equity activity.