Solana Dominates Tokenized Equities with DraftKings DKNG Success

DraftKings' tokenized stock DKNG saw $39 million in trading volume on Solana within just three hours of going live.

The token, issued through Backpack Securities, is backed 1:1 by actual DraftKings shares held in custody. This means holders can redeem their tokens for the underlying shares or transfer them to traditional brokerage accounts.

This marks another milestone for Solana, which has become a dominant force in tokenized equities trading. With over $684 million in total tokenized equity supply on the network by early September 2026, and daily volumes exceeding $600 million at various points in 2026, Solana's control of the market is clear.

Backpack Securities launched its first tokenized equity with SpaceX shares back in June 2026, giving retail investors access to companies that don't trade on public markets. Since then, it has expanded to include GoPro and Moderna, among others.