On Friday, July 10, SK Hynix will begin trading on the Nasdaq Global Select Market under the ticker SKHY. It is the first time the Korean memory giant has been available to US investors through a standard brokerage account.
About SK Hynix
SK Hynix is a South Korean company and one of the world's largest memory chipmakers. What makes it central to the AI trade is one product: high-bandwidth memory (HBM), the specialized DRAM stacked next to Nvidia's H100, H200, and B200 GPUs. SK Hynix supplies the majority of it, holding 56.4 percent of the HBM market in Q1 2026, according to IDC data cited in its SEC filing.
The fundamentals reflect that position. Shares on the Korea Exchange have rallied more than 270 percent year-to-date, and Q1 2026 operating margin reached 72 percent. In June, SK Hynix announced a technology partnership with Nvidia to co-develop next-generation memory aligned with Nvidia's AI infrastructure roadmap.
Chip demand runs through GPUs. GPU throughput runs through HBM. HBM runs through SK Hynix.
How it enters the US market
SK Hynix's common stock trades on the Korea Exchange, priced in Korean won. For a US investor, that means a foreign brokerage account, currency conversion, and a thirteen-hour time difference. It is friction most retail investors do not clear.
The Nasdaq listing solves this through an American depositary receipt (ADR) structure. SK Hynix issues new shares and deposits them with a custodian bank. A US depositary bank then issues receipts representing those shares. Ten ADRs represent one common share. The receipts trade on Nasdaq in dollars, during US market hours, and settle like any US-listed security.
The offering targets approximately $28 billion, which would make it the largest ADR listing on record, surpassing Alibaba's $21.8 billion debut in 2014. Bookbuilding runs through July 9, when the final price will be set, with trading opening the following day.
How to buy SKHY on Backpack
On Backpack, SKHY is available in two forms.
The real US-listed ADR trades on Backpack Securities. Positions are security entitlements under New York law, with Nasdaq market liquidity and TradFi brokerage transfers supported.
The tokenized version, $SKHY on Solana, is issued by Backpack Securities. It is self-custodied, tradable through Solana DEXs and onchain liquidity, and compatible with DeFi.
The two are redeemable 1:1 against each other, and users can move between them on the same platform.
To mark the listing, Backpack is running Trading Trail: SK Hynix. Trade crypto and perpetuals on Backpack to unlock up to $960 in SK Hynix shares, including a 20% Stock Holder Bonus.
SKHY begins trading on Nasdaq on July 10. Buy SKHY on Backpack when it goes live.
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