Micron shares come to Solana just in time for earnings

Micron shares are now trading on Solana, 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.

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 real-world assets practical at scale.

The timing is deliberate. When Micron's numbers land after market close on June 24, the Nasdaq will be shut but the tokenized version of the stock will keep trading around the clock.

Related: One of Asia's most regulated crypto markets just said yes to Solana

A tokenized share is not just a price tracker. Backpack Securities issues each MU token against a real Micron share held in custody, meaning every token is backed one-to-one by an actual share of the company.

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 Backpack, 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 tokenized stock products, which offer only price exposure without the ability to claim the underlying share.

Elon Musk has blunt proposal for U.S. Treasury

Coinbase Backs Roundtable’s AI-Powered - DeFi Media Platform

‘Rich Dad Poor Dad’ author reveals best time to buy Bitcoin, gold

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.

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.

"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."

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.

Its market value crossed $1 trillion in May, and its memory supply is committed well into next year.

While AI chipmakers 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.

"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."

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.

Related: Moody's brings its credit ratings to the Solana blockchain

This story was originally published by TheStreet on Jun 22, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.