Backpack’s Wild Plan: 10,000 Tokenized Stocks Coming to Solana

TLDR

• Backpack CEO Armani Ferrante wants to expand tokenized stock access on Solana from about 200 symbols to 10,000.
• The plan would let shares move between brokerage accounts and DeFi apps through a single API.
• No launch date or list of priority stocks has been given.
• The SEC granted conditional relief on Sep. 17 for tokenized stock trading, but only for venues meeting its conditions.
• Backpack has not been named by the SEC as a participating venue under the new exemption.

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Backpack CEO Armani Ferrante has shared a plan to grow tokenized stock access on Solana in a big way. The company currently offers around 200 stock symbols. Ferrante wants to push that number to 10,000.

Armani Ferrante, CEO of Backpack, on what comes next for tokenized stocks.

“Not 10 stocks, not 100 stocks. We want to bring the entire stock market to Solana. One API where a real share, by any definition of the term, moves back and forth between your brokerage account and DeFi.… pic.twitter.com/KF5Zi26a9b

— Solana (@solana) September 26, 2026

The announcement came through a video clip shared by Solana on September 26. In it, Ferrante said the goal is to make the entire stock market available through blockchain technology.

“Not 10 stocks, not 100 stocks. We want to bring the entire stock market to Solana,” Ferrante said.

He described a system where a real share could move from a brokerage account into DeFi and then back again. This would all happen through one API. Ferrante called the jump from 200 to 10,000 symbols “the next leap.”

No launch date was given. The announcement also did not say which stocks would be added first.

How Backpack’s System Works

Backpack introduced its securities platform back in June. The company lets customers hold U.S. stocks and exchange-traded funds through a brokerage service. Users can then convert eligible holdings into tokenized versions.

Depositing a supported token back through Backpack Exchange converts it back into a normal security. Backpack says its brokerage holdings follow New York’s Uniform Commercial Code Article 8. The company also says the platform supports dividends, corporate actions, and transfers using established brokerage systems like ACATS.

On Solana, these tokens can sit in compatible wallets. Users can transfer them to other people. Backpack says the tokens can also be used in DeFi apps, depending on the rules of each product.

Backpack’s first tokenized product was tied to SpaceX, launched in June with a partner called Sunrise. The company later added tokens tied to other companies, including Micron and SanDisk. In September, it added a token tied to CoreWeave.

What Rights Token Holders Actually Get

There is a difference between owning a regular brokerage share and owning a tokenized version, even when Backpack says the two convert one for one. For its Micron product, Backpack says regular brokerage holders get cash dividends the normal way.

Token holders instead get their dividends reinvested as more tokens. Corporate actions are handled by adjusting token balances instead.

The SEC has warned that not all tokenized securities work the same way. In a January statement, the agency said rights tied to a token depend on how it was built. Some tokens are backed by real shares held in custody. Others create different types of claims entirely.

On September 17, the SEC created a five-year framework letting certain venues trade tokenized stocks under specific conditions. Venues must confirm that token holders get the same rights as regular shareholders. Trading must halt if the actual stock is halted too.

The SEC has not named Backpack as a venue operating under this new exemption. Backpack also recently added Kyle Samani, a former Multicoin Capital executive, to its U.S. board. No timeline was given for expanding U.S. stock services.