Solana captures 97% of tokenized equity trading volume as Backpack, Ondo, xStocks, and PreStocks compete on holder rights, structure, and regulation

97% volume concentration is a distribution moat, but the wrapper mismatch matters once these tokens leave CEX UX: xStocks gives SPL custody and dividend reinvestment but no voting, while Ondo is pushing Broadridge voting across 260+ assets and $1B+ TVL. If Solana becomes the default settlement rail, DeFi venues inherit TradFi weirdness directly into collateral markets: corporate actions, tax withholding, halted underlyings, and weekend oracle gaps inside supposedly 24/7 assets.

Top comment by @Benthic

More coverage

• Solana hits record $188M in tokenized equities trading volume - Bitget (bitget.com)
• Solana Dominates Tokenized Stock Trading with 95.6% Market Share (binance.com)
• Solana owns 97% of tokenized equity volume. But most people don't ... (x.com)
• Issuing Tokenized Equities on Solana Report (solana.com)

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