Jupiter off-market volume jumps 360% as tokenized equity holders hit 759,000

Jupiter's off-market tokenized asset trading volume rose 360% year-to-date, as on-chain tokenized equity holders climbed to 759,000, data from the Solana-based DEX aggregator show.

The surge reflects demand for 24/7 equity trading access, with over 65% of tokenized equity volume on Jupiter transacted during off-hours or weekends, the platform said. The growth was driven by Jupiter's partnership with Securitize and Jump Trading, formalized in May and June 2026, which created the infrastructure for regulated on-chain tokenized US equities on Solana.

Tokenized equity holders rose 449% year-to-date and 73% month-over-month, reaching 759,000. Solana captured approximately 85% of all on-chain tokenized equity transactions, with Jupiter at the center of that activity. Tokenized equities used as collateral in DeFi lending hit an all-time high of $53 million on July 23, with Jupiter Lend holding about $20 million of that value, according to the platform.

The trajectory suggests tokenized equity holders could surpass 1 million by year-end, according to forecasts cited by The Kobeissi Letter. Jupiter's broader platform recorded $176.8 billion in total spot trading volume in Q3 2025, and the addition of tokenized equities represents an expanding revenue stream through trading fees and lending revenue.

Solana's dominance in tokenized equities

Solana's roughly 85% market share of on-chain tokenized equity transactions positions it as the dominant blockchain for this emerging asset class, with no competing chain mounting a serious challenge. Jupiter's overall routed volume grew approximately 300% year-to-date, making the 360% off-market growth rate even more notable by comparison.

What this means for investors

The 449% YTD growth in tokenized equity holders signals this is no longer a niche experiment. For JUP token holders, the monetization of this flow through trading fees, lending revenue from Jupiter Lend's $20 million in collateral, and potential future settlement services represents revenue streams that did not exist a year ago. Risks remain, however: regulatory clarity around tokenized securities is still evolving, and any shift in SEC or CFTC posture toward on-chain equity trading could create headwinds. The concentration of 85% of activity on a single blockchain also introduces infrastructure risk.

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