Shares in Solana owned by Galaxy Digital are reportedly being converted to tokens at a price of $225.
In a groundbreaking move, Galaxy Digital, led by Mike Novogratz, has become the first Nasdaq-listed company to tokenize its SEC-approved stocks directly on the Solana blockchain. This initiative marks a significant step forward for the rapidly expanding realm of tokenized shares.
As of September 3, 2025, a total of 32,374 shares have been tokenized by 21 investors, signifying growing interest in this innovative approach to traditional stock ownership. The tokenization of Galaxy Digital's (GLXY) shares is a testament to Solana's position as the "Nasdaq of blockchains," as it is praised by Crypto Briefing for its speed, low fees, and scalability, particularly suited for managing institutional volumes.
This move paves the way for future integration of tokenized stocks in Automated Market Makers (AMMs) and Decentralised Finance (DeFi) platforms, subject to regulatory approval. The ongoing support from the SEC for tokenized shares on blockchains further bolsters this potential.
The tokenized shares market on Solana is currently valued at $337.94 million, contributing significantly to the overall Real World Assets (RWA) sector, which stands at $27.82 billion. This expansion of the tokenized shares sector on Solana is a promising sign for the future of this burgeoning industry.
The price of Solana (SOL) has seen a 3.64% increase, with the SOL price now at $211.43, due to this initiative. However, the RSI at 68.24 indicates that the market is approaching overbought territory, suggesting potential for a correction. Despite this, analysts predict a potential price increase of SOL above $225, with further targets at $232 and $245.
The presence of sell walls at $217-225 could potentially slow down this upward momentum. On the other hand, a significant sale of 49,882 SOL in the past 24 hours suggests continued interest in the cryptocurrency.
The GLXY tokens represent actual SEC-approved shares with all shareholder rights, recorded in real-time on Solana. This tokenization is done in partnership with Superstate's Opening Bell platform. With Galaxy Digital leading the charge, other notable institutions are expected to follow suit, tokenizing their stock packages into SEC-compliant tokens on Solana.
The increasing institutional adoption of tokenized shares on Solana is a positive sign for the future of this technology. As more institutions align with regulatory requirements and scalable platforms like Solana, we can expect to see more tokenizations of public companies in the near future.
For investors, a recommended strategy could be a staggered entry at $201-204, with an allocation of 5-8% of the crypto portfolio. With the potential for further growth and the transparency offered by on-chain recording of transfers, this could be an exciting opportunity for those looking to diversify their crypto holdings.
In conclusion, the tokenization of Galaxy Digital's stocks on Solana marks a significant milestone in the integration of traditional finance and blockchain technology. As more institutions follow suit, we can expect to see the tokenized shares market continue to grow and evolve, offering new opportunities for investors and revolutionizing the way we interact with financial assets.
