DraftKings’ tokenized stock DKNG hits $39M in volume on Solana within three hours

A tokenized version of DraftKings stock racked up $39 million in trading volume within three hours of going live on Solana. The DKNG token, issued through Backpack Securities, is fully backed 1:1 by actual DraftKings shares held in custody. Holders can redeem their tokens or transfer them into traditional brokerage accounts. Solana’s unlikely transformation into a stock exchange Daily tokenized stock volumes on the network have exceeded $600 million at various points in 2026. By early September 2026, total tokenized equity supply on Solana reached approximately $684 million. The network has captured over 95% of global on-chain tokenized equity DEX volume through mid-2026. Backpack Securities launched its first tokenized equity with SpaceX shares back in June 2026, giving retail investors access to a company that doesn’t trade on public markets. Since then, it has expanded to companies including GoPro and Moderna, building a growing catalog of on-chain equities that trade across Solana DEXs like Raydium and Jupiter. Traditional stock markets operate roughly six and a half hours per day, five days a week, closed on holidays, and gated behind brokerage accounts with varying fee struct...