DraftKings tokenized stock logs $39M volume within 3 hours of Solana debut

DraftKings’ tokenized stock, DKNG, recorded $39 million in trading volume within three hours of launching on Solana. DKNG was issued by Backpack Securities and is backed one-to-one by custodied DraftKings shares. Holders can redeem the tokens for actual shares or transfer them to existing brokerage accounts. In 2026, daily trading volume for Solana-based tokenized stocks at one point exceeded $600 million, while total issuance stood at about $684 million in early September.