SK Hynix's Record Nasdaq Listing Lands on Solana on Day One, Tokenized by xStocks, Backpack Securities, and Ondo

SK Hynix listed on the Nasdaq on July 10, 2026, under a temporary ticker of SKHYV, switching to SKHY on July 13. The Solana network placed the offering at $28 billion in an official July 10 announcement, describing it as the largest US share sale by a foreign company in market history. By the time trading opened, three tokenized versions of the stock were already live on Solana.

xStocks AAPLx$345.94-0.3% launched $SKHYx across Solana, Ethereum, TON, BNB Smart Chain, and HyperEVM simultaneously. Backpack Securities, the regulated brokerage arm of the Backpack platform, worked with Sunrise to bring a separate $SKHY token to Solana, backed 1:1 by actual SK Hynix shares and redeemable through the platform. Ondo Finance issued a third version, SKHYON, across Ethereum, BNB Smart Chain, and Solana. Solflare noted that $SKHYx appeared in its users' wallets the instant the listing went live.

First-Day Trading: $1.18 Million Across ZeroFi, Kraken, and Raydium

Combined trading data from CoinGecko shows the three tokenized SK Hynix products generated $1.18 million in volume on July 10, with the tokenized price holding close to $169 across venues.

The SKHY/USDC pair on Raydium's CLMM pool added $105,000 in 24-hour volume, with Byreal ($59,000), Meteora ($11,000), and Orca ($1,500) completing the Solana venue picture. Backpack Securities is running a concurrent trading incentive offering up to $960 in SK Hynix shares to exchange users who reach volume thresholds through July 15. Solana Compass tracked 142 token holder accounts for Backpack Securities' SKHY on Solana as of July 10.

SpaceX, SanDisk, SK Hynix: Three in a Row on Solana

SK Hynix is the third consecutive major Nasdaq listing to arrive on Solana as a tokenized asset on its debut day. When SpaceX listed on the Nasdaq on June 12, Backpack Securities and Sunrise launched $SPCX on Solana the same day, generating $37 million in first-day combined tokenized volume. When Western Digital's SanDisk unit listed on June 24, Sunrise and Backpack Securities launched $SNDK within hours.

The structure is now consistent: multiple competing issuers, centralized exchange pairs and Solana DEX pools active on opening day, and wallet integration that delivers tokens to users as the listing goes live.

Tokenized equity on Solana generated $5.77 billion in spot volume in Q2 2026, with tokenized stocks crossing $3 billion in cumulative Raydium volume by late June. SK Hynix arrives as that growth continues.

SK Hynix, HBM, and Why the Listing Size Is Unusual

SK Hynix is one of the world's largest producers of DRAM and NAND flash memory, and a top supplier of the high-bandwidth memory Nvidia requires for its H100 and B200 GPUs at data center scale. That position in the AI chip supply chain is what makes the listing notable beyond its size: SK Hynix sits at the intersection of memory manufacturing and AI infrastructure demand.

The $28 billion listing figure, as described by the Solana network in its official July 10 announcement, would represent a record for the largest US share sale by a foreign issuer. SK Hynix trades on the Korea Stock Exchange as 000660 but had not previously listed in the US; the Nasdaq offering gives international investors direct US-market access to a company central to the AI chip supply chain.

Tokenized SKHY provides an additional access channel: 24/7 trading across Solana DEXs and Kraken, without conventional market hours or brokerage account requirements.

xStocks' price-exposure products ($SKHYx) are not available to residents of the US, UK, Canada, or Australia. Backpack Securities operates under a US regulatory framework supporting share-backed custody and ACATS redemption into real shares.