Solana has surpassed Robinhood Chain to become the second-largest network by tokenized equities holders, according to the latest data from Blockworks. The number of Solana-based tokenized stock holders now exceeds 1.5 million, narrowly outpacing Robinhood Chain, which stands at approximately 1.48 million. BNB Chain maintains its lead, reaching 1.93 million holders.
Accelerating growth in tokenized equity holders
Robinhood Chain first gained the upper hand in July, propelled by surging interest in meme stocks on its platform. Since then, Robinhood Chain kept its position until this latest shift in October, when Solana’s rapid growth pushed it ahead.
Solana’s lead, though slim at just 23,000 holders, conceals the scale of its monthly growth. The network added over 260,000 holders in October alone, quintupling the rate it saw when Robinhood Chain initially overtook it. This acceleration reflects a broader trend of increased adoption across major tokenized stock networks.
Combined, tokenized stock holders across all networks now total 5.13 million. Solana’s 29% share is notable, as most activity is concentrated among three primary networks—BNB Chain, Solana, and Robinhood Chain, while Base and Ethereum both count fewer than 80,000 holders each.
| Network | Tokenized Stock Holders |
|---|---|
| BNB Chain | 1.93 million |
| Solana | 1.5 million |
| Robinhood Chain | 1.48 million |
| Base | <80,000 |
| Ethereum | <80,000 |
Expanding tokenized stock catalog fuels demand
A key factor behind Solana’s rise has been the rapid expansion of available tokenized stocks. In September, digital asset firms Backpack Securities and Sunrise brought 20 new stock tickers onchain, including prominent names such as Nike, Micron, and Moderna. Armani Ferrante, CEO of Backpack, has publicly expressed his ambition to scale Solana’s listings to as many as 10,000 publicly traded stocks.
Developers have expressed an aim to offer a single API where any real share can move between brokerage accounts and DeFi, dramatically widening access to tokenized equities.
The broader range of stock choices has made Solana increasingly attractive to users seeking exposure to familiar companies. Previously, Solana’s tokenized stock selections were limited, but the growing catalog now includes both consumer and healthcare sector equities, all accessible from the same blockchain ecosystem.
Mini dictionary: Backpack Securities is a digital asset firm enabling onchain trading of stocks and tokens, known for contributing to Solana’s expanding list of tokenized equities.
User experience enhanced by seamless integration
Access to tokenized stocks on Solana has also become significantly easier. Major decentralized applications in the Solana ecosystem, such as Raydium, Jupiter, and Phantom, now support buying, selling, and trading tokenized equities. Kraken Wallet alone lists more than 700 so-called xStocks for users.
By integrating equities alongside stablecoins within the same user interface, Solana apps are reducing barriers for investors. The jump in active holders suggests that more users are taking advantage of this streamlined experience.
SEC’s regulatory frame triggers rapid adoption
The US Securities and Exchange Commission introduced a five-year conditional framework for tokenized stock trading on September 17. At the time, Solana’s holder count had not yet hit the one-million mark but crossed that milestone within a week, continuing on a strong upward trajectory since then.
Historically, regulatory changes have tended to bring issuers and platforms on board first, with active retail user adoption following—a pattern mirrored in Solana’s recent surge.
Comparing Solana’s and Robinhood’s user bases
Robinhood Chain’s swift growth in July resulted from existing retail traders on the Robinhood platform seeking tokenized versions of the stocks they already traded. Robinhood Chain’s 1.48 million holder base remains sizable and engaged despite Solana’s new lead.
Solana, by contrast, has seen a more distributed influx of users via decentralized exchanges, wallets, and third-party issuers, without reliance on a single frontend. This multi-channel growth could make its lead more durable, though the narrow gap of 23,000 addresses means that rankings may soon shift again depending on market activity.
