SPHR
Sphere Entertainment Co.
stock NYSE

**Source:** [https://x.com/capitalmarkets/status/2099507138834100378](https://x.com/capitalmarkets/status/2099507138834100378)
https://preview.redd.it/gbg3pd7x6iph1.png?width=680&format=png&auto=webp&s=70724f9da7f277d667b8e70d197e5550d097d36f
Tokenized-equity supply on Solana reached a new all-time high of $684 million this week. Sunrise and Backpack Securities added more stocks, while tokenized GRND recorded $31 million in volume during its first 24 hours.
Solana also ranked first for monthly USDC senders, with 6.2 million sending addresses over 30 days. OpenCover extended institutional risk protection to four Solana protocols, and Veda added Kamino as a liquidity source for embedded Earn products.
Here’s what moved across Solana capital markets.
# Spotlight
# Tokenized-equity supply reaches $684M as listings expand
https://preview.redd.it/lr4hycdz6iph1.png?width=680&format=png&auto=webp&s=c2fa664e5e156c9c4d48007182fefedfb51a6aff
Tokenized-equity supply on Solana reached a [new all-time high of $684 million](https://x.com/solana/status/2098324276948643923), up 47% over three weeks. [@sunrise](https://x.com/@sunrise) and [@Backpack](https://x.com/@Backpack) Securities expanded the available lineup. The additions included NKE, GRND, HTZ, SPHR, WEN, DNUT and DKNG, alongside a [batch of 20 tokenized stocks](https://learn.backpack.exchange/blog/20-new-tokenized-stocks-solana). Each token is convertible 1:1 with its underlying share through Backpack Exchange.
Tokenized GRND generated [$31 million in volume during its first 24 hours](https://cryptobriefing.com/solana-tokenized-grindr-stock-trading-volume/), exceeding the underlying stock’s NYSE trading volume during the preceding session.
Over the 12 months ending August 18, 2026, [63% of tokenized-equity volume on Solana occurred while U.S. exchanges were closed](https://www.allium.so/reports/solana-rwa-ecosystem). Weekends accounted for 17% of volume during the period.
Sources: [Blockworks](https://blockworks.com/analytics/solana) · [Backpack Securities](https://learn.backpack.exchange/blog/20-new-tokenized-stocks-solana) · [Allium](https://www.allium.so/reports/solana-rwa-ecosystem)
# Number of the Week
# Solana ranks first for monthly USDC senders
https://preview.redd.it/yf64h9137iph1.png?width=680&format=png&auto=webp&s=2d867b6b184a63cf697e471cbb115d7b5eefb6c1
Solana recorded [6.2 million USDC-sending addresses](https://x.com/solana/status/2097631542155870578) over the 30 days ending September 9.
Those addresses represented 42% of USDC senders across the networks included in the dataset. Solana recorded 2.5 times as many senders as the next network.
Source: [Token Terminal](https://tokenterminal.com/explorer/metrics/asset-dau)
# News Bites
# OpenCover adds institutional risk protection on Solana
[@OpenCover](https://x.com/@OpenCover) [added protection](https://opencover.com/opencover-expands-institutional-risk-protection-to-solana/) for eligible positions across Kamino, Raydium, Orca and Jupiter.
Nexus Mutual underwrites the protection. Coverage, capacity and terms vary by protocol and position. This is OpenCover’s first support for positions outside EVM networks.
Source: [OpenCover](https://opencover.com/opencover-expands-institutional-risk-protection-to-solana/)
# Veda adds Kamino as a liquidity source
[@veda\_labs](https://x.com/@veda_labs) [integrated](https://veda.tech/blog/veda-powers-krakens-push-into-xstocks-yield-with-sentora) [@kamino](https://x.com/@kamino) as a Solana-native liquidity source for its vault infrastructure.
The integration supports [@xStocksFi](https://x.com/@xStocksFi) Earn vaults for eligible Kraken clients holding SPYx, QQQx and NVDAx. Veda supplies the vault infrastructure, Sentora curates the strategies, and Kamino provides the lending markets.
Source: [Veda](https://veda.tech/blog/veda-powers-krakens-push-into-xstocks-yield-with-sentora)
# PreStocks crosses 100,000 holder addresses
[@PreStocks](https://x.com/@PreStocks) [crossed 100,000 holder addresses](https://x.com/PreStocks), doubling its reported count in ten days.
The platform offers tokenized pre-IPO exposure to companies including OpenAI, Anthropic, Anduril and Kalshi. The products trade continuously on Solana.
Source: [PreStocks](https://x.com/PreStocks)
# By the Numbers
* $684M · Tokenized-equity supply, A new all-time high, up 47% over three weeks
* $31M · GRND launch volume, Onchain volume during the tokenized security’s first 24 hours
* 63% · Outside-hours equity volume, Share of tokenized-equity volume on Solana recorded while U.S. exchanges were closed during the 12 months ending August 18, 2026
* 6.2M · Monthly USDC senders, Unique USDC-sending addresses recorded over 30 days
* 550K+ · Solana RWA holders, Holder addresses containing tokenized real-world assets
* \#1 · RWA net inflows, Solana’s rank by net RWA inflows over the preceding 30 days
That’s the week.
Forwarding is welcome for colleagues who should have it on their radar.
The Capital Markets desk

**Source:** [https://x.com/capitalmarkets/status/2099507138834100378](https://x.com/capitalmarkets/status/2099507138834100378)
https://preview.redd.it/gbg3pd7x6iph1.png?width=680&format=png&auto=webp&s=70724f9da7f277d667b8e70d197e5550d097d36f
Tokenized-equity supply on Solana reached a new all-time high of $684 million this week. Sunrise and Backpack Securities added more stocks, while tokenized GRND recorded $31 million in volume during its first 24 hours.
Solana also ranked first for monthly USDC senders, with 6.2 million sending addresses over 30 days. OpenCover extended institutional risk protection to four Solana protocols, and Veda added Kamino as a liquidity source for embedded Earn products.
Here’s what moved across Solana capital markets.
# Spotlight
# Tokenized-equity supply reaches $684M as listings expand
https://preview.redd.it/lr4hycdz6iph1.png?width=680&format=png&auto=webp&s=c2fa664e5e156c9c4d48007182fefedfb51a6aff
Tokenized-equity supply on Solana reached a [new all-time high of $684 million](https://x.com/solana/status/2098324276948643923), up 47% over three weeks. [@sunrise](https://x.com/@sunrise) and [@Backpack](https://x.com/@Backpack) Securities expanded the available lineup. The additions included NKE, GRND, HTZ, SPHR, WEN, DNUT and DKNG, alongside a [batch of 20 tokenized stocks](https://learn.backpack.exchange/blog/20-new-tokenized-stocks-solana). Each token is convertible 1:1 with its underlying share through Backpack Exchange.
Tokenized GRND generated [$31 million in volume during its first 24 hours](https://cryptobriefing.com/solana-tokenized-grindr-stock-trading-volume/), exceeding the underlying stock’s NYSE trading volume during the preceding session.
Over the 12 months ending August 18, 2026, [63% of tokenized-equity volume on Solana occurred while U.S. exchanges were closed](https://www.allium.so/reports/solana-rwa-ecosystem). Weekends accounted for 17% of volume during the period.
Sources: [Blockworks](https://blockworks.com/analytics/solana) · [Backpack Securities](https://learn.backpack.exchange/blog/20-new-tokenized-stocks-solana) · [Allium](https://www.allium.so/reports/solana-rwa-ecosystem)
# Number of the Week
# Solana ranks first for monthly USDC senders
https://preview.redd.it/yf64h9137iph1.png?width=680&format=png&auto=webp&s=2d867b6b184a63cf697e471cbb115d7b5eefb6c1
Solana recorded [6.2 million USDC-sending addresses](https://x.com/solana/status/2097631542155870578) over the 30 days ending September 9.
Those addresses represented 42% of USDC senders across the networks included in the dataset. Solana recorded 2.5 times as many senders as the next network.
Source: [Token Terminal](https://tokenterminal.com/explorer/metrics/asset-dau)
# News Bites
# OpenCover adds institutional risk protection on Solana
[@OpenCover](https://x.com/@OpenCover) [added protection](https://opencover.com/opencover-expands-institutional-risk-protection-to-solana/) for eligible positions across Kamino, Raydium, Orca and Jupiter.
Nexus Mutual underwrites the protection. Coverage, capacity and terms vary by protocol and position. This is OpenCover’s first support for positions outside EVM networks.
Source: [OpenCover](https://opencover.com/opencover-expands-institutional-risk-protection-to-solana/)
# Veda adds Kamino as a liquidity source
[@veda\_labs](https://x.com/@veda_labs) [integrated](https://veda.tech/blog/veda-powers-krakens-push-into-xstocks-yield-with-sentora) [@kamino](https://x.com/@kamino) as a Solana-native liquidity source for its vault infrastructure.
The integration supports [@xStocksFi](https://x.com/@xStocksFi) Earn vaults for eligible Kraken clients holding SPYx, QQQx and NVDAx. Veda supplies the vault infrastructure, Sentora curates the strategies, and Kamino provides the lending markets.
Source: [Veda](https://veda.tech/blog/veda-powers-krakens-push-into-xstocks-yield-with-sentora)
# PreStocks crosses 100,000 holder addresses
[@PreStocks](https://x.com/@PreStocks) [crossed 100,000 holder addresses](https://x.com/PreStocks), doubling its reported count in ten days.
The platform offers tokenized pre-IPO exposure to companies including OpenAI, Anthropic, Anduril and Kalshi. The products trade continuously on Solana.
Source: [PreStocks](https://x.com/PreStocks)
# By the Numbers
* $684M · Tokenized-equity supply, A new all-time high, up 47% over three weeks
* $31M · GRND launch volume, Onchain volume during the tokenized security’s first 24 hours
* 63% · Outside-hours equity volume, Share of tokenized-equity volume on Solana recorded while U.S. exchanges were closed during the 12 months ending August 18, 2026
* 6.2M · Monthly USDC senders, Unique USDC-sending addresses recorded over 30 days
* 550K+ · Solana RWA holders, Holder addresses containing tokenized real-world assets
* \#1 · RWA net inflows, Solana’s rank by net RWA inflows over the preceding 30 days
That’s the week.
Forwarding is welcome for colleagues who should have it on their radar.
The Capital Markets desk