Strategy Stock Tokenized: MSTR Is Now Tradable Around the Clock on Solana

What happened

Shares of Strategy (MSTR) are now available as a tokenized share on Solana. They are issued by Backpack Securities via the Sunrise platform and can be traded around the clock — including on Raydium, Jupiter, Phantom, Titan, and Mayan.

How the structure works

• 1:1 redemption: the token can be redeemed for the traditional share.
• Transferable to a brokerage: the position can be moved into a conventional brokerage account.
• Issuer: Backpack Securities, a US broker-dealer — we covered the background here.
• Verifiable: to guard against copycat tokens, the providers publish an official mint address (MSTRdWXMeZxdE8osAQy3fA4rvTY5rgummDSMEx6U7Nz). Checking it before trading is worth the moment — how to vet tokens is in Check a token for scams.

Context

As a stock, MSTR is closely tied to Bitcoin because the company holds large bitcoin reserves — so tokenizing it brings an indirect, equity-based crypto exposure onto a chain where trading already happens. More interesting than the individual name is the pattern: after SPCX (SpaceX) and SKHY, the catalog of tokenized equities on Solana keeps growing. The practical difference from the exchange stays the same: trading outside market hours, straight from your own wallet.

How tokenized stocks work technically and legally — including what you actually hold — is covered in Tokenized stocks (xStocks) on Solana.

Note: This is reporting, not investment advice. Tokenized securities are subject to different rules depending on the country; availability, eligibility, and redemption depend on jurisdiction and the issuer’s terms.

What to watch

• How volume and liquidity develop outside exchange hours
• Which further names follow via Sunrise and Backpack
• How reliably redemption into real shares works in practice

Sources

• Solana — Announcement on X
• Raydium — Listing note on X