Solana RWA adoption accelerated after Galaxy Digital (GLXY) tokenized Nasdaq-listed shares on Solana, showcasing on-chain, 24/7 equity trading and pushing on-chain RWAs past $500M. This development highlights Solana’s growing role in tokenized equities and TradFi-to-DeFi liquidity rails.
-
Solana hosts the first U.S. public equity tokenization (GLXY) enabling near-instant, 24/7 trading
-
On-chain RWAs on Solana hit a $500M all-time high, with tokenized equities accounting for ~88% of holders
-
DeFi led 2025 YTD gains (+44%) while RWAs grew 38.7%; Ethereum still leads in TVL but Solana is narrowing RWA adoption gaps
Solana RWA adoption surged after GLXY tokenization; learn how on-chain equities change liquidity and trading access — read analysis and next steps.
What is Solana’s recent RWA milestone?
Solana RWA recently crossed an on-chain milestone as on-chain real-world assets topped $500 million, driven largely by tokenized equities and a notable Nasdaq-listed tokenization by Galaxy Digital. The surge reflects growing investor confidence in Solana’s low-cost, fast-settlement rails for regulated assets.
How did Galaxy Digital (GLXY) tokenize Nasdaq shares on Solana?
Galaxy Digital issued 32,000 tokenized Class A shares on Solana, creating tradable GLXY tokens that represent equity exposure on-chain. The tokenization enabled near-instant settlements and 24/7 trading, features not available in traditional markets. Source: Galaxy Digital announcement (plain text).
On-chain data shows 59,433 of 67,559 RWA holders are in public equity tokens, roughly 88% of participants. That concentration indicates tokenized equities are the primary growth vector for Solana RWAs. Source: Rwa.xyz (plain text).
Why does GLXY on Solana matter for DeFi and TradFi integration?
Tokenized equities on Solana lower friction for institutional and retail access to TradFi assets on-chain. DeFi’s 2025 year-to-date performance (+44%) outpaced RWAs (+38.7%), signaling liquidity preference for composable on-chain markets. This trend strengthens the bridge between traditional securities and decentralized liquidity pools. Source: DeFiLlama (plain text).
How does Solana compare to Ethereum for RWAs and DeFi?
Ethereum remains the DeFi leader with 59.65% market share, ~1,593 protocols, and $91.77B TVL. Solana ranks sixth in RWA market share (~3.15%), but its recent wins — stablecoin-settled IPOs, memecoin launchpads, and GLXY tokenization — show growing on-chain RWA utility and cost-efficiency.
| Metric | Ethereum (ETH) | Solana (SOL) |
|---|---|---|
| DeFi Market Share | 59.65% | ~6% (RWA-focused growth) |
| TVL | $91.77B | Smaller, rising with RWA inflows |
| RWA Market Share | Dominant | 3.15% |
What are the immediate market implications of GLXY tokenization?
Immediate effects include increased on-chain liquidity for tokenized equities and a proof point that established financial firms can execute regulated tokenizations on Solana. Market makers and DeFi protocols may route more capital to Solana to capture 24/7 equity trading spreads.
How can traders and custodians prepare for tokenized equities on Solana?
Prepare by integrating Solana-compatible custody solutions, ensuring KYC/AML compliance, and updating settlement workflows to handle 24/7 on-chain settlements. Market infrastructure needs synchronization with traditional clearing to manage regulatory reporting and corporate actions.
Frequently Asked Questions
How does tokenization change equity trading hours?
Tokenization enables 24/7 trading and near-instant settlement on-chain, removing traditional market hours and settlement windows while requiring coordination for regulatory reporting.
Will Solana replace Ethereum for RWAs?
Not immediately. Ethereum still leads in TVL and protocol count, but Solana’s cost and speed advantages make it an attractive alternative for tokenized equities and settlement-sensitive RWAs.
Key Takeaways
- Historic tokenization: Galaxy Digital’s GLXY move made Solana the first chain to host a Nasdaq-listed equity token.
- On-chain RWA growth: Solana RWAs hit ~$500M with tokenized equities driving adoption (88% of holders).
- Practical next steps: Custodians, traders, and regulators must adapt for 24/7 settlement and compliance workflows.
Conclusion
Solana’s recent wins—stablecoin-settled IPOs, memecoin launchpads, and Galaxy Digital’s GLXY tokenization—underscore a tangible move toward on-chain RWAs and TradFi integration. While Ethereum remains dominant in DeFi, Solana’s low cost and fast settlement position it as a growing hub for tokenized equities. Monitor regulatory updates and infrastructure deployments as the market adapts.
Source: Rwa.xyz
Source: DeFiLlama
