The market for tokenized equities is moving faster than expected. Onchain tokenized equity holders have reached a record 1.11 million, up 118% over the last 30 days and roughly 810% YTD. One of the strongest drivers is trading outside traditional market hours. @solana processed $1.45B in tokenized equity volume in July, giving it roughly 82% of all tokenized stock trading across blockchains and 97% of cumulative onchain equity spot volume to date. @JupiterExchange’s off-market trading volume has also grown 360% YTD, with more than 65% of its tokenized equity volume taking place during off-hours and weekends. The demand is also showing up in the assets being held. Tokenized Micron and SanDisk have reached roughly $120M and $102M respectively, both ahead of Nvidia at roughly $85M. The bigger signal is the speed of adoption. We expected the market to reach 1 million tokenized equity holders by the end of 2026. It crossed the milestone in early August, nearly five months ahead of expectation.