Solana Tokenized Equity Wallets Pass 900,000 as Supply Reaches $684M All-Time High

Wallet addresses holding tokenized equities on Solana crossed 900,000 on September 22, an all-time high, according to Crypto Briefing. The count stood at 424,894 on September 1. By September 12 it had reached 801,439 (an 88% gain in eleven days), before passing 850,000 on September 20 and 900,000 two days later.

Total tokenized equity supply outstanding on Solana reached $684 million in mid-September, a 47% increase over three weeks, per the same report. Thirty-day RWA volume on the network came to $3.3 billion over the same period.

NVDAx, SPYx, and TSLAx Drive Holder Count Across the xStocks Catalog

xStocks AAPLx$342.45-0.7% is the primary issuer behind the growth. Its tokens operate as SPL assets with continuous 24/7 settlement, each backed 1:1 by the underlying security held in a licensed custodian. The most widely held positions include NVDAx (NVIDIA), SPYx (S&P 500 ETF), TSLAx (Tesla), and Apple. Nike tokenized shares were added to the xStocks catalog in September, extending the lineup beyond its original tech-heavy roster.

Jupiter JUP$0.311+3.9% routes the dominant share of on-chain trades across these assets, serving as the primary DEX aggregator for the tokenized equity market on Solana.

Backpack Securities and Galaxy Digital Open New Routes to Ownership

Backpack (Backpack Securities), the Kraken-backed regulated brokerage, has grown into a significant distribution channel for tokenized equities on Solana. Unlike pure DEX access, Backpack Securities offers accounts that confer legal ownership of the underlying security under New York law, widening the profile of holders reaching these tokens.

Galaxy Digital launched an issuer-direct on-ramp in mid-September, enabling participants to acquire tokenized equities directly from the issuer rather than through secondary market trading alone. That addition reduces friction for larger allocators who want primary-market pricing without relying on DEX liquidity.

Solana's tokenized equity holder base had passed 850,000 just two days earlier, confirming that the pace of wallet growth accelerated through the final days of September.

Volume Market Share at 35% After Robinhood Chain's July Entry

The holder count milestone sits alongside a shift in volume market share. Solana held roughly 85-95% of on-chain tokenized equity volume through Q2 2026, according to Crypto Briefing. That changed when Robinhood (Robinhood Chain), an Ethereum Layer 2, launched on July 1 with Robinhood's existing retail brokerage base behind it. By late August, Solana's volume share had slipped to approximately 30%. It recovered to roughly 35% in September; Robinhood Chain held approximately 39% over the same period.

The divergence between holder count and volume share is a meaningful distinction. Solana's wallet count grew continuously through Q3 even as its volume share compressed; Robinhood Chain appears to generate proportionately more trading activity per wallet, consistent with launching through an established brokerage rather than an on-chain-native distribution model.

Q2 peak activity on Solana reached $10 billion in tokenized stock volume in June alone. The $3.3 billion 30-day figure for the period ending September 22 is a trailing metric that spans the Robinhood Chain competition period and is not directly comparable to the June peak.