Tokenized Sphere Entertainment ($SPHR) Now Available on Solana

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

Token details

About Sphere Entertainment

Sphere Entertainment Co. (NYSE: SPHR) is a live entertainment and media company that reports across two segments, Sphere and MSG Networks. The Sphere segment covers the immersive venue that opened in Las Vegas in September 2023, earning revenue from The Sphere Experience, concerts and events, and from sponsorship, Exosphere advertising and suite license fees. MSG Networks operates the MSG Network and MSG Sportsnet regional sports networks. Yas Island was selected in May 2026 as the site for Sphere Abu Dhabi, with construction expected to be completed by the end of 2029, and plans for a smaller-scale venue at National Harbor near Washington, D.C. continue to move forward.

Moving between $SPHR and traditional SPHR shares

$SPHR and traditional Sphere Entertainment Co. (NYSE: SPHR) shares are convertible 1:1 through Backpack Exchange. The flow works the same way as depositing or withdrawing a stablecoin.

Withdraw a share of Sphere Entertainment from Backpack Exchange to tokenize it into $SPHR on Solana.

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

How to trade $SPHR

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

$SPHR 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 $SPHR, are:

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