Ferrari tokenized shares go live on Solana through Sunrise

Buying a Ferrari usually takes a waiting list, a serious bank balance and a fair amount of patience. Owning a sliver of the company behind the cars now takes a Solana wallet.

Tokenized shares of Ferrari NV, trading as $RACE, are now available on Solana through the Sunrise asset gateway, with Backpack as the issuer. The launch took effect October 6, 2026. It adds one of the most recognizable luxury brands to a growing shelf of onchain equities.

How the $RACE token works

Each $RACE token is backed 1:1 by an actual Ferrari share held in regulated custody. Backpack Securities serves as the issuer, and holders can redeem their tokens back into traditional stock entitlements through Backpack Securities.

The token’s contract address is RACEyWiM2ztEZcJx2AHXU2eWjhxU57x3vXn92b39dLD. Checking that string before buying is the simplest way to confirm you are holding the genuine article.

Sunrise handles distribution. The gateway is designed to plug tokenized stocks into wallets and decentralized exchanges, or DEXs, which are trading venues where users swap tokens directly without a traditional broker in the middle.

Supported venues include Phantom, Jupiter and Raydium. Trading runs 24/7. The tokens are built to be eligible for dividends and corporate actions.

From SpaceX to supercars

Ferrari is not the first big name to arrive on this rail. The $RACE launch is tied to an ongoing partnership that started with tokenized SpaceX shares in June 2026.

Backpack Securities aims to expand the number of tokenized stock symbols on Solana from the current 200 toward a goal of 10,000.

What this means for investors and Solana

Several things are worth watching from here. First, whether $RACE builds meaningful trading activity on Solana DEXs, since a token with thin volume offers little of the promised liquidity.

Second, how smoothly redemption through Backpack Securities works in practice. The 1:1 backing is the foundation of the product, and confidence depends on the ability to convert tokens back into stock entitlements when holders want to.

Third, how dividends and corporate actions get passed through to token holders. Fourth, round-the-clock trading creates a practical puzzle: when the underlying market is closed, the token keeps trading, so how closely its price stays aligned with the real share during those hours will be a revealing test of the model.