Solana Tokenized Stocks Beat NYSE and NASDAQ Combined in Volume, With 63% of Trades After Market Hours

Tokenized stocks on Solana generated more than $200 million in trading volume on September 12, with on-chain data showing Solana outpaced the combined tokenized equity volume of NASDAQ and NYSE by more than $100 million that day. Of the cumulative trading activity through August, 63% settled outside standard U.S. market hours (after the 4:00pm ET closing bell through the following morning's open), according to the Solana Foundation's September 13 weekly newsletter.

Raydium RAY$1.76-4.4% Raydium functioned as the settlement backbone for the day. Messari published breakdown data on September 12 showing Raydium captured 63% of all tokenized equity volume across the Solana ecosystem, including 75% of xStocks AAPLx$347.30+0.1% xStocks trading volume and 60% of Backpack Backpack Securities token volume. A community researcher placed Raydium's share at 70% of the September 12 total, a figure Raydium itself echoed in an official post.

$GRND Cleared $31M On-Chain in Its First 24 Hours, More Than Its Prior-Day U.S. Volume

Tokenized $GRND via Backpack Securities cleared $31 million in its first 24 hours on Solana, exceeding the company's entire prior-day volume on U.S. exchanges, per the Solana Foundation newsletter.

$GRND is a small-cap stock. Its normal daily U.S. volume is thin by major-market standards. The tokenized version generated deeper volume in its first 24 hours on a venue with no brokerage requirement, no account minimums, and global reach. It joins a growing roster of tokenized names on Solana including NKE, HTZ, SPHR, WEN, DNUT, and DKNG via Sunrise Sunrise and Backpack Securities.

The 1-800-Flowers ($FLWS) listing via Backpack Securities posted $22.19 million in first-day volume on September 12. GameStop was tokenized as $GMEx via xStocks the same week.

Raydium Captures 63% of Tokenized Equity Settlement Across xStocks and Backpack

The Messari figures published September 12 show Raydium's settlement dominance holds across both issuance platforms. The 75% xStocks figure and 60% Backpack figure both converge toward the overall 63% share, making Raydium the primary AMM for tokenized equities regardless of which issuer minted the token.

A separate community data post on September 13 placed Raydium at 70% of that day's total Solana tokenized equity volume, noting it exceeded the combined NASDAQ and NYSE figure by more than $100 million. Raydium cited the data directly in an official post: "The Stonk Market is open 24/7 on Raydium."

Tokenized Equity Supply on Solana Reaches $684M Record; Holders Cross 727K

The Solana Foundation newsletter confirmed total tokenized equity supply on Solana reached a record $684 million as of September 13. The holder count stands at 727,000, per the same source.

@tokens recorded 128,000-plus unique traders active on September 12 alone. SPYx SPYx, the SP500-tracking xStocks token, had 73,710 holders and $13.8M in 24-hour volume as of September 13, per Solana Compass data. That is a single token within a market that cleared $200M the same day.

Solana's tokenized equity market posted $10 billion in trading volume in June at 95% on-chain market share; the September 12 daily figure adds to a pace that has continued into Q3.

Stocklana Hackathon and LaunchOnSF Incentives Running Through September 18

The Stocklana hackathon runs September 11 through September 18 at hackathons.solana.com. LaunchOnSF, the StonkFun tokenized stock launchpad, has distributed substantial rewards since launch. Both programs run as the listing pace accelerates.

Solana reclaimed the daily DEX volume lead over Robinhood Chain at $3.25 billion to $2.72 billion this week. The September 12 tokenized equity data shows the gap extends beyond aggregate totals: the volume is increasingly generated outside NYSE hours, by a trader base the traditional market does not reach.