Tokenized Schwab U.S. REIT ETF ($SCHH) Now Available on Solana

Backpack expands its tokenized securities lineup on Solana with the Schwab U.S. REIT ETF ($SCHH). Each $SCHH token is tradable 24/7 and redeemable 1:1 for a traditional share of the Schwab U.S. REIT ETF (NYSE Arca: SCHH) through Backpack Securities.

Token details

About the Schwab U.S. REIT ETF

Schwab U.S. REIT ETF (NYSE Arca: SCHH) is an exchange-traded fund managed by Schwab Asset Management that holds shares in US real estate investment trusts. It aims to track, before fees and expenses, the total return of the Dow Jones Equity All REIT Capped Index. That index covers REITs classified as equities and leaves out mortgage REITs, which finance property rather than own it, along with hybrid REITs that do both.

Moving between $SCHH and traditional SCHH shares

$SCHH and traditional Schwab U.S. REIT ETF (NYSE Arca: SCHH) shares are convertible 1:1 through Backpack Exchange. The flow works the same way as depositing or withdrawing a stablecoin.

Withdraw a share of the Schwab U.S. REIT ETF from Backpack Exchange to tokenize it into $SCHH on Solana.

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

How to trade $SCHH

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

$SCHH 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 $SCHH, are:

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