Backpack Securities has listed a tokenized version of BlackRock stock on Solana, the company announced on X, adding the world's largest asset manager to a growing shelf of blockchain-based US equities that trade around the clock on decentralized exchanges.

The $BLK token gives Solana users a blockchain-native claim on BlackRock shares. Each token is redeemable 1:1 for the underlying share, and holders can move positions between wallets, trade them on decentralized exchanges, and transact outside traditional stock market hours.

Backpack Securities is the brokerage and tokenization arm of Backpack, a Solana-based platform that launched in June 2026 with the stated goal of letting users trade real US equities through regulated infrastructure. After purchasing a stock, users can convert their holdings into tokenized versions that live on Solana and trade continuously on decentralized exchanges.

The $BLK listing forms part of a broader rollout Backpack is running with Sunrise, its partner for token issuance and trading on Solana. BlackRock had been flagged as an anticipated addition to that pipeline before the official announcement.

From SpaceX to 200 listings

Backpack's first tokenized stock was SpaceX, issued under the ticker $SPCX. The token went live the same day SpaceX began trading on Nasdaq.

By September 2026, Backpack had listed roughly 200 tokenized stocks, with 20 new additions landing on the platform that month alone. CEO Armani Ferrante has described an ambition to eventually support 10,000 symbols, a figure that would cover a substantial portion of the US equity market.

Ferrante frames the project as infrastructure rather than product. He has said he wants a single API that ties traditional brokerage functions to decentralized finance, sparing developers the work of stitching the two systems together themselves.

The volume picture

Tokenized stocks on Solana recorded more than $4.9 billion in trading volume during the first half of 2026, according to figures cited in the announcement's context. In one measured week during 2026, Backpack-issued tokens held 73% of decentralized exchange market share for tokenized equities.

The appeal is straightforward. Traditional stock markets keep set hours, and anything that happens after the closing bell waits until the next session. Tokenized versions trade 24/7. Backpack's tokens are also built to work with wallet-to-wallet transfers and DeFi applications, meaning a tokenized share could be deployed inside other on-chain services rather than sitting dormant in a brokerage account.

Open questions on entitlements

For traders, the practical benefit is flexibility: a tokenized $BLK position can be moved, traded, or used on-chain at any hour while remaining tied 1:1 to an actual share.

Holders still face unresolved questions about how entitlements such as dividends and corporate actions flow through to the tokens. Liquidity is another variable. Off-hours markets for individual tokenized stocks can be thinner than the main exchange session, which widens the practical gap between a token's price and the underlying share.

Backpack has not set a public date for reaching its 10,000-symbol target, but the pace of additions — 20 listings in a single month — suggests the pipeline with Sunrise will keep expanding the tokenized equity shelf through the remainder of 2026.