The real test for tokenized stocks starts when #WallStreet is closed.
Backpack Securities has issued a #solana token representing BlackRock shares. $BLK trades 24/7 on #raydium and is redeemable 1:1 for ordinary BLK stock or transferable back to a traditional brokerage. It is not issued or endorsed by #blackRock .
That distinction matters. This is not just a price-tracking synthetic token; it links a #defi market to a regulated share. But weekend trading creates a new risk: the on-chain price can move while the NYSE price is frozen. When markets reopen, arbitrage must close any gap.
Early volume and wallet growth are interesting. The more important signal is whether liquidity survives after launch day and whether redemption keeps the token anchored to the underlying stock.
Backpack Securities has issued a #solana token representing BlackRock shares. $BLK trades 24/7 on #raydium and is redeemable 1:1 for ordinary BLK stock or transferable back to a traditional brokerage. It is not issued or endorsed by #blackRock .
That distinction matters. This is not just a price-tracking synthetic token; it links a #defi market to a regulated share. But weekend trading creates a new risk: the on-chain price can move while the NYSE price is frozen. When markets reopen, arbitrage must close any gap.
Early volume and wallet growth are interesting. The more important signal is whether liquidity survives after launch day and whether redemption keeps the token anchored to the underlying stock.
