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      Backpack Securities Launches Tokenized BlackRock Shares on Solana

      Backpack Securities has introduced tokenized shares of BlackRock, launching its $BLK token on the Solana blockchain. This addition allows users to trade a blockchain-native version of BlackRock shares, enabling transactions on decentralized exchanges outside traditional stock market hours. The $BLK token is designed to be redeemable on a 1:1 basis for the actual shares, providing a new avenue for investors to engage with the stock.

      Founded in June 2026, Backpack Securities aims to facilitate trading of real U.S. equities through regulated infrastructure. The company has already listed approximately 200 tokenized stocks, including its first offering, a token for SpaceX, which debuted alongside the company's Nasdaq trading. CEO Armani Ferrante has ambitious plans to expand the platform to support up to 10,000 stock symbols, significantly broadening its market reach.

      The rise of tokenized equities is attracting attention due to their ability to trade 24/7 on decentralized exchanges, contrasting with the limited hours of traditional stock markets. In the first half of 2026, tokenized stocks on Solana recorded over $4.9 billion in trading volume, with Backpack's tokens capturing a substantial market share. This flexibility allows investors to move and trade their holdings at any time, although questions remain regarding the handling of dividends and corporate actions for tokenized shares.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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