BlackRock shares arrive on Solana via Backpack Securities tokenization

Backpack Securities has launched a tokenized version of BlackRock shares, designated as the $BLK token, on the Solana blockchain. This tokenized asset allows users to trade a blockchain-native version of BlackRock stock on decentralized exchanges outside of traditional market hours. Each token is designed to be redeemable 1:1 for the underlying shares.

In related institutional activity, Stonebridge Financial Group LLC increased its position in BlackRock by 71.3% during the third quarter, bringing its total holdings to 8,878 shares. The move comes as Wall Street anticipates BlackRock’s third-quarter earnings report on October 14.