GoPro tokenized shares debut on Solana as RWA volumes top $1B

Tokenized GoPro shares, ticker $GPRO, went live on Solana on Sept. 1 via the Sunrise gateway, each backed 1:1 by a share in custody.

Backpack Securities, a regulated US broker, has been expanding its tokenized equities roster on Solana since June 12, when it listed SpaceX. The broker has since added Micron and Moderna, with GoPro marking its latest listing. Holders can convert their tokenized shares back to traditional brokerage entitlements at any time, the broker said.

Sunrise, the asset gateway built by Wormhole Labs, establishes a canonical mint address for each new tokenized equity, streamlining distribution across wallets and decentralized exchanges. The infrastructure enables 24/7 trading, a contrast to traditional exchanges that close at 4 PM Eastern and shut down on weekends.

Solana's tokenized equity market surpassed $1 billion in weekly trading volume in June, driven by demand for these instruments. GoPro's listing differs from earlier additions because the stock is already publicly traded, so the value proposition centers on composability — using tokenized shares within DeFi protocols, trading them on DEXs, or holding them in self-custodial wallets.

GoPro is a publicly traded company, so anyone with a Robinhood or Schwab account can already buy shares. The on-chain version adds the ability to use tokenized shares as collateral in Solana DeFi lending protocols, trade them against other assets on DEXs, or hold them alongside crypto in a single wallet. This composability is what separates tokenized equities from their traditional counterparts.

One caution for traders searching Solana for GoPro-related tokens: an unrelated community token also named $GOPRO exists on the network. It has no connection to GoPro Inc. or to the Backpack Securities offering. The naming overlap is the kind of confusion that bad actors exploit, and buying the wrong token is a costly mistake.

The launch extends a broader trend of traditional finance assets moving on-chain. BlackRock's BUIDL fund has reclaimed the lead in tokenized Treasuries with roughly $2.8 billion in market cap, narrowly surpassing Circle's USYC, according to recent data. Solana's push into tokenized equities puts the network in direct competition with Ethereum for real-world asset listings.

For Backpack Securities, the GoPro listing is another step toward building a full menu of on-chain equities. The broker's regulated status — it operates under US securities law — gives it a compliance edge over unregulated token issuers. As more traditional assets move on-chain, the question is whether Solana can sustain the momentum that pushed its tokenized equity volumes past $1 billion weekly in June.

This article is for informational purposes only and does not constitute investment advice.