Solana has overtaken Robinhood Chain in the number of tokenized equities holders according to the latest data from Blockworks. The network now accounts for over 1.5 million tokenized stock holders which puts it just ahead of Robinhood Chain at around 1.48 million and behind BNB chain, which still leads with 1.93 million holders. 

Robinhood took the lead in July, when meme-stock enthusiasm on its platform pushed holder count above Solana. Robinhood Chain held this lead and did not switch places with Solana until now. 

The lead at this moment is thin, at around 23,000 holders but the pace behind it is not. Solana added more than 260,000 holders in October alone. This figure is now five times larger than what it stood at when Robinhood Chain first pulled ahead. 

There are now 5.13 million tokenized stock holders across all networks and Solana’s market share at the moment is at 29%. Activity is concentrated among the three networks, with Base and Ethereum trailing well behind, with less than 80,000 holders each. 

New Listings Are Widening the Catalog 

A big reason for the growth in Solana’s holder count is the increase in supply. In September, Backpack Securities and Sunrise brought 20 new tickers onchain. This included the likes of Nike, Micron and Moderna. Backpack CEO Armani Ferrante even went on record to say that he wanted to bring the entire stock market on Solana, going from 200 stocks to 10,000 as the next step. 

More names give people more reasons to show up on the network. A few months ago, a Solana user who wanted stock exposure had a much shorter list to choose from. Today, they can find consumer and healthcare stocks on the same chain they already use for everything else. 

Tokenized Stocks Now Sit Inside Solana’s Main Apps

Access to these stocks have improved just as quickly. These stocks can be bought and traded on apps that every Solana user is already familiar with. This includes Raydium, Jupiter and Phantom. Kraken Wallet alone offers more than 700 xStocks. 

What this does is that it greatly diminishes any sort of friction for the user. Putting equities in the same swap screen as stablecoins simplifies the entire user experience and the holder data suggests that people are using it. 

The SEC Framework Arrived as Solana Crossed 1 Million

The SEC set out a five-year conditional framework for tokenized stock trading on Sept. 17. Solana’s holder count was still below 1 million at the time. It crossed that mark within about a week, and much of the climb to 1.5 million has come since.

Regulatory clarity tends to bring issuers and front ends in before it brings users, and Solana’s timeline follows that order fairly closely.

Robinhood’s Lead Came From a Different Kind of Holder

Robinhood Chain’s July surge leaned on retail traders who were already on Robinhood and wanted onchain exposure to the stocks they were chasing. That base is still large, and at 1.48 million holders Robinhood Chain is far from fading.

Solana’s growth looks more spread out. Its holders come in through decentralized exchanges and wallets as well as third-party issuers, with no single app doing the heavy lifting. That could make the lead harder to take back over time. With a gap of 23,000 addresses, though, the ranking could flip again within days. 

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