Sunrise

Solana

Backpack

Elon Musk

Micron shares are now trading on&nbsp;<a href="https://www.thestreet.com/crypto/tag/solana" rel="noopener noreferrer nofollow">Solana</a>, and unlike on Wall Street, the market never closes.
Sunrise and Backpack Securities have tokenized Micron (NASDAQ: MU) stock and brought it live on Solana on June 22, just two days before the chipmaker reports its fiscal third-quarter earnings.&nbsp;
Solana is one of the fastest blockchains in the world, processing thousands of transactions per second at a fraction of a cent, which is what makes 24/7, continuous trading of <a href="https://www.thestreet.com/crypto/markets/real-world-assets-are-sparking-the-next-big-crypto-gold-rush" rel="noopener noreferrer nofollow">real-world assets</a> practical at scale.
The timing is deliberate.&nbsp;When Micron's numbers land after market close on June 24, the <a href="https://www.thestreet.com/crypto/markets/coinbase-backs-roundtables-ai-powered-defi-media-platform-" rel="noopener noreferrer nofollow">Nasdaq</a> will be shut but the tokenized version of the stock will keep trading around the clock.
<a href="https://www.thestreet.com/crypto/markets/one-of-asias-most-regulated-crypto-markets-just-said-yes-to-solana" rel="noopener noreferrer nofollow">Related: One of Asia's most regulated crypto markets just said yes to Solana</a>
<h2 id="how-sunrise-and-backpack-securities-tokenize-a-stock">How Sunrise and Backpack Securities tokenize a stock</h2>
A tokenized share is not just a price tracker. Backpack Securities issues each MU token against a real <a href="https://www.thestreet.com/investing/stocks/micron-stock-draws-aggressive-target-reset-from-5-star-analyst" rel="noopener noreferrer nofollow">Micron</a> share held in custody, meaning every token is backed one-to-one by an actual share of the company.&nbsp;
Holders can deposit their tokenized MU into Backpack Exchange and redeem it for the underlying share, which can then be transferred to a traditional brokerage. Dividends and corporate actions apply to both the tokenized and brokerage-held positions.
The token can be self-custodied in wallets including <a href="https://www.thestreet.com/deals/joyway-travel-backpack-walmart-flash-sale-summer-walmart-deals-2026" rel="noopener noreferrer nofollow">Backpack</a>, Phantom, and Solflare, and traded across Solana's exchanges and wallets from the first trade, moving wallet to wallet like any native Solana asset.
This redeemability sets MU apart from most <a rel="noopener noreferrer nofollow">tokenized stock</a> products, which offer only price exposure without the ability to claim the underlying share.
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<h2 id="why-earnings-season-changes-everything">Why earnings season changes everything</h2>
Earnings releases are designed to land outside market hours, which means the first market reaction is typically compressed into a narrow after-hours window before trading halts entirely until the next morning's open. Weekends and holidays extend that blackout further.
On Solana, those limits do not exist. MU trades and settles continuously, through the earnings call, overnight, and across weekends.&nbsp;
A holder reacting to Micron's guidance the moment it is published trades the same asset, in the same liquidity pool, as everyone else, regardless of the hour.
"The companies building the AI economy are among the most valuable in the world, yet the markets for their shares still keep banker's hours," said Saeed Badreg, CEO of Wormhole Labs.&nbsp;
<blockquote>
 "Micron reports earnings this week, the kind of moment that sets where a stock trades next, and in the traditional system trading stops exactly when that news lands. On Solana, the market stays open."
</blockquote>
<h2 id="why-micron-specifically">Why Micron specifically</h2>
Micron is not a random pick. It is one of only three companies globally that produces high-bandwidth memory, the stacked DRAM that sits alongside every AI accelerator and determines how fast it can run.&nbsp;
Its market value crossed $1 trillion in May, and its memory supply is committed well into next year.
While <a href="https://www.thestreet.com/investing/qualcomm-eyes-tenstorrent-10-billion-ai-acquisition" rel="noopener noreferrer nofollow">AI chipmakers</a> tend to capture the headlines, the memory their processors depend on comes from a very short list of suppliers. Micron is the only American company on that list, making its earnings a closely watched barometer for AI hardware demand across the entire sector.
"When Micron reports earnings on Wednesday, MU issued by Backpack Securities will keep trading around the clock, with a real share behind every position, redeemable 1:1 into the underlying real share, and transferable to traditional brokerages," said Armani Ferrante, CEO of Backpack.&nbsp;
<blockquote>
 "For onchain markets to carry real size and liquidity, shares have to flow between TradFi and DeFi at the speed of a token. That's the difference between price exposure and ownership."
</blockquote>
This is the second tokenized stock launch from the Sunrise and Backpack Securities partnership, following their earlier SPCX launch for SpaceX shares ahead of its public debut.
<a href="https://www.thestreet.com/crypto/innovation/moodys-brings-its-credit-ratings-to-the-solana-blockchain-" rel="noopener noreferrer nofollow">Related: Moody's brings its credit ratings to the Solana blockchain</a>

Micron shares come to Solana just in time for earnings

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