Backpack Securities Lists Tokenized BlackRock (BLK) Stock on Solana via Sunrise, Trading 24/7 on Raydium

Backpack Securities has issued a tokenized version of BlackRock Inc. common stock (NYSE: BLK) on Solana, listed through Sunrise on 2 October 2026 and trading 24/7 on Raydium RAY$1.92+1.9%. Backpack Securities is the issuer of the BLK token, not BlackRock itself, and we found no statement from BlackRock about the listing at the time of writing.

Sunrise announced the listing at 19:58 UTC, naming Backpack Securities as issuer. Raydium confirmed BLK was live a minute later, and Backpack's own on-chain account followed at 20:15 UTC with the token's terms.

How Backpack Securities' tokenized BLK stock works

Backpack Securities' BLK token is redeemable 1:1 for BlackRock shares and can be transferred to traditional brokerages, according to Backpack Onchain's announcement. In plain terms, one token is meant to stand for one share of the listed company, and a holder who wants out of the on-chain wrapper can, under Backpack's terms, swap back into the ordinary stock held at a conventional broker.

The announcements did not detail the redemption process, minimum sizes, or which investors are eligible to hold or redeem the token.

What the posts did spell out is the contract address. Sunrise published the mint as "the canonical $BLK on Solana," and Backpack Onchain posted the same address with the instruction "Verify before you trade." A search of our own token database for "BlackRock" on 2 October returned several unrelated tokens using the BlackRock name, none of them issued by Backpack Securities. The only mint the issuer and the listing venue have both confirmed is BLKKYfF41c6xRPrtX1rdYbxLE1xxEdZUnxQsB5hcZ8Nf.

Raydium crosses $6 billion in tokenized stock volume on the same day

BLK went live on Raydium less than two hours after the exchange said it had crossed $6 billion in cumulative tokenized stock volume on Solana, a milestone Raydium posted at 18:07 UTC on 2 October 2026. Raydium's listing post described BlackRock as "the world's largest asset manager."

Trading 24/7 is the practical difference from the NYSE listing. A Raydium pool quotes BLK on weekends, when the NYSE is closed, so the on-chain BLK price can move while the listed BlackRock share price cannot.

Early BLK trading and holders on Solana

Launch demand for the BLK token was immediate. As of 20:24 UTC on 2 October 2026, about 25 minutes after Raydium's live post, our BLK token data showed roughly $2.6 million in trading volume and more than 3,500 holder wallets, against a supply of about 395 tokens worth around $1.3 million. The holder base is wide and thin: around 94% of wallets held less than $100 of BLK, while 22 wallets holding $10,000 or more accounted for about 81% of the token's value.

BlackRock's own Solana products run through Securitize

BlackRock does have a direct presence on Solana, through products it issues itself. In August, BlackRock launched the BRSRV and BSTBL tokenized money market funds, with ownership recorded on Solana, Ethereum and Tempo and Securitize acting as transfer agent, as we covered in our report on the BRSRV and BSTBL launch.

The BLK token is a different kind of instrument. BRSRV and BSTBL are BlackRock funds that BlackRock chose to put on-chain. Backpack Securities' token, by contrast, is a claim on BlackRock's listed equity, packaged by a separate company in the same way Backpack wraps the shares of other public companies. A BLK token holder gets exposure to BlackRock the business through Backpack's redemption terms, and BlackRock has made no public statement about the token.

Powerus, Forward Industries and Moderna: earlier tokenized stock listings on Sunrise

BLK is the second Backpack Securities listing on Sunrise on 2 October 2026. Earlier in the day, tokenized shares of drone maker Powerus (PUSA) went live on the same rails. The pattern goes back further: Backpack Securities listed tokenized Forward Industries (FWDI) stock in September and tokenized Moderna (MRNA) in August.

Sunrise describes its role as bringing new assets to Solana with canonical markets, which is why the venue and the issuer both publish the mint for each listing. We covered Sunrise's weekly trading volume milestone in September, and a household name like BlackRock is a bigger test of demand for the venue than a small-cap such as Powerus.

For Solana, the BLK listing adds a large-cap stock to an on-chain market that trades around the clock, settles on the same network as BlackRock's own tokenized funds, and lets holders exit to a traditional brokerage under Backpack's terms. Whether BLK trading holds up after launch day will show in the token's on-chain volume and holder data over the coming weeks.