Ferrari Tokenized Shares Go Live on Solana Through Sunrise
Backpack Securities has launched $RACE, a token backed 1:1 by Ferrari shares and distributed through Sunrise across Solana wallets and decentralized exchanges.
Tokenized shares of Ferrari NV are now available on Solana through the Sunrise asset gateway, marking the arrival of one of the world’s most recognizable luxury brands on the network’s growing onchain-equities market. The launch took effect on October 6, 2026, with Backpack Securities serving as issuer.
How $RACE Works
The Ferrari-linked token, known as $RACE, is backed 1:1 by an actual Ferrari share held in regulated custody. Backpack Securities says holders can redeem their tokens for the corresponding traditional stock entitlements through the issuer.
Sunrise handles distribution, connecting tokenized equities with Solana wallets and decentralized exchanges. Supported venues include Phantom, Jupiter and Raydium, giving users access to the asset without relying exclusively on a conventional brokerage interface.
Key features of the launch include:
- 1:1 backing: Each $RACE token represents an underlying Ferrari share.
- 24/7 trading: The token can trade around the clock on supported Solana venues.
- Corporate actions: The tokens are designed to be eligible for dividends and other shareholder-related events.
- Redemption: Holders can convert tokens back into traditional stock entitlements through Backpack Securities.
Solana’s Tokenized Stock Push
Ferrari is not the first major company to use this distribution rail. The $RACE launch builds on a partnership that began with tokenized SpaceX shares in June 2026.
Backpack Securities is targeting a significant expansion of the market. The firm aims to increase the number of tokenized stock symbols available on Solana from roughly 200 to as many as 10,000. That ambition would position the network as a broader venue for onchain access to traditional equities, provided the products can attract sustained liquidity and meet investors’ expectations around custody and redemption.
The immediate test will be whether $RACE develops meaningful activity on Solana’s decentralized exchanges. Thin trading volume could limit the practical value of round-the-clock access, even if the token is technically available across multiple venues.
What This Means
The launch gives Solana users a new route to exposure to Ferrari shares and demonstrates how regulated custody can be paired with wallet-based distribution. It also highlights several operational questions that will shape confidence in tokenized equities.
Investors will be watching the reliability of redemption, the handling of dividends and corporate actions, and the token’s price relationship with Ferrari’s underlying shares. Because $RACE can trade while traditional markets are closed, its overnight and weekend pricing will offer a revealing test of liquidity and market alignment. If the model performs well, Ferrari could become an important proof point for Backpack Securities’ larger tokenized-stock expansion.