Galaxy Digital makes history with 32K tokenized shares on Solana – Details

ambcryptoPublished on 2025-09-03Last updated on 2025-09-04

Key Takeaways

Solana has become the first chain to host a Nasdaq-listed equity with GLXY’s tokenization. Is this its moment to dominate the RWA rails?

After pulling off a stablecoin-settled IPO, fueling a memecoin launchpad, and rolling out major network upgrades, Solana [SOL] is now clearly leaning into Real World Assets [RWA]. 

Earlier this year, on-chain RWAs on Solana topped $500 million all-time high. In technical terms, that’s real capital putting trust in Solana’s on-chain cost profile to park regulated assets on it.  

In fact, Solana now ranks sixth in the RWA sector with about 3.15% market share. Sure, it’s still a long way from Ethereum’s $8.16 billion, but recent on-chain win suggests the network is steadily leveling up.

Solana hosts historic tokenized Nasdaq listing 

In another power move, Solana is advancing its Wall Street ambitions.

Galaxy Digital (NASDAQ: GLXY) just made history by tokenizing 32,000 of its Class A shares on Solana, making it the first U.S. public company to put equity directly on-chain, enabling near-instant, 24/7 trading access.

Here’s why it matters: This kind of round-the-clock liquidity can’t happen off chain, making it a clear showcase of how blockchain rails can deliver capabilities that conventional markets can’t.

Solana RWASolana RWA

Source: Rwa.xyz

The chart above underscores this shift.

Out of 67,559 RWA holders, 59,433 are in public equity tokens. That’s about 88% of participants, showing that tokenized equities are the main driver of Solana’s on-chain RWA adoption.

In short, a U.S. public firm going live on Solana is a major milestone. But the real question is whether this shift represents Solana’s shot at owning the RWA rails, or just the first move in a multi-chain race.

GLXY tokenization signals a major shift toward DeFi

Beyond RWAs, GLXY trading on-chain signals a deeper shift.

DeFi has led 2025 YTD gains, up 44%, outpacing RWAs at 38.7%. This shows serious liquidity moving into DeFi rails, and tokenized assets like GLXY are helping connect TradFi with on-chain markets in a real way.

Statistically, Ethereum [ETH] still dominates DeFi. It holds a 59.65% market share, 1,593 protocols, and $91.77 billion in TVL. Yet, GLXY choosing Solana speaks volume of its on-chain rails gaining traction for tokenized assets.

Ethereum TVLEthereum TVL

Source: DeFiLlama

In short, Solana sits at a pivotal junction in the TradFi-to-DeFi shift.

With RWAs hitting new highs, stablecoin IPOs launching, and Galaxy Digital tokenizing the first U.S. equity on-chain, Solana is edging closer to its Wall Street dream, staking its claim in the multi-chain race.

 

Next: Here’s why AAVE eyes $430 breakout amid $53M whale move
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