Tokenized BlackRock ($BLK) Now Available on Solana

Backpack expands its tokenized stock lineup on Solana with BlackRock ($BLK). Each $BLK token is tradable 24/7 and redeemable 1:1 for a traditional share of BlackRock (NYSE: BLK) through Backpack Securities.

Token details

About BlackRock

BlackRock, Inc. (NYSE: BLK) is an investment management firm founded in 1988, with its principal office at 50 Hudson Yards in New York. It manages money for institutional and retail clients across equities, fixed income, private markets, commodities, digital assets and cash management, and it runs iShares, the exchange-traded fund brand. BlackRock also sells technology and subscription services, led by the Aladdin investment and risk management platform, and it manages client assets as a fiduciary rather than trading for its own account.

Moving between $BLK and traditional BLK shares

$BLK and traditional BlackRock, Inc. (NYSE: BLK) shares are convertible 1:1 through Backpack Exchange. The flow works the same way as depositing or withdrawing a stablecoin.

Withdraw a share of BlackRock from Backpack Exchange to tokenize it into $BLK on Solana.

Deposit $BLK from a Solana wallet to Backpack Exchange to convert it back into the underlying BLK share held in Backpack Securities.

How to trade $BLK

You can trade Backpack-issued $BLK on Solana using Backpack Wallet.

$BLK is also accessible across the Solana ecosystem, including decentralized exchanges, aggregators, wallets, and apps such as Backpack, fomo, Titan, Jupiter, Phantom, Solflare, Raydium, Kamino, and others.

Unlike most tokenized stocks that only track a price, tokenized securities issued by Backpack, including $BLK, are:

• Redeemable 1:1 for real underlying shares
• Transferable to traditional brokerages