Solana Tokenized Stock Holders Surge Fivefold to 1.5 Million

Solana has reached a record 1.5 million tokenized equity holders, with the number growing fivefold since August, according to data cited by CryptoNews. Despite the expansion in tokenized stocks, SOL continues to face selling pressure and struggles near $100 following weeks of downward movement from approximately $124 at the beginning of October.

Growth Driven by Stablecoins and Rewards

Much of the trading activity for tokenized stocks occurs through stablecoins such as USDC, meaning higher trading volumes do not automatically translate into direct demand for SOL. Research by Blockworks indicated that memecoin trading pairs and token reward programs contributed significantly to the surge in holder addresses. Between August 3 and October 11, reward programs distributed roughly $31 million in stock tokens to more than 360,000 wallets. Furthermore, platforms including Securitize have expanded offerings to include tokenized U.S. stocks such as Apple, Nvidia, Tesla, and Microsoft.

ETF Outflows and Market Pressures

Selling pressure on SOL throughout October has also been compounded by continued withdrawals from U.S. Solana exchange-traded funds. Data cited in the source showed that U.S. Solana ETFs recorded multiple sessions of net withdrawals, adding to the negative price momentum ahead of the network's scheduled Alpenglow upgrade. Meanwhile, tokenized equity trading volumes on decentralized exchanges remained substantial, with daily figures exceeding $150 million on multiple occasions in late October.

Key facts

• Solana reached a record 1.5 million tokenized equity holders, growing fivefold since August.
• SOL has remained under selling pressure near $100 after starting October near $124.
• Tokenized stock transactions settle in stablecoins like USDC without creating direct SOL demand.
• Blockworks data showed reward programs distributed $31 million in stock tokens to over 360,000 wallets.