Tokenized Stocks Now Trade Mostly After US Market Hours
Most tokenized stock trading no longer happens while Wall Street is open. Fresh data shows the bulk of onchain equity volume lands outside the regular 9:30 a.m. to 4 p.m. Eastern session.
The after-hours majority
More than 70% of tokenized stock volume on BNB Chain executes outside standard US market hours, based on Blockworks data cited by The Kobeissi Letter. Solana sits at 63%, and Base is close behind at nearly 60%. Jupiter, one of Solana's largest trading venues, posted a 50% month-over-month jump in tokenized asset volume.
The takeaway is that traders are not just mirroring the New York session onchain. They are buying US equities when traditional exchanges are dark.
The numbers behind the shift
Tokenized stock value climbed 15% over 30 days to roughly $3.3 billion, according to RWA.xyz. That market is concentrated: Ondo Global Markets, xStocks and bStocks hold a large share, and their tokens are issued and traded across multiple chains.
Regulators are opening the door
In September, the SEC approved a temporary "innovation exemption" allowing qualifying venues to trade tokenized US-listed stocks on public blockchains. Those venues can run permissioned trading of National Market System stocks through automated market makers and liquidity pools.
They must also publish dollar-denominated transaction data — prices, trade sizes, timestamps, pool addresses and daily volumes. SEC Commissioner Mark Uyeda said the framework is designed to be controlled, with symbol and volume limits, and the agency is collecting public feedback on it.
Existing products such as xStocks and Ondo Global Markets are generally unavailable to US investors, but the exemption lets qualifying venues offer tokenized US equities domestically if shareholder rights are preserved.
Why this matters if you trade crypto
For crypto natives, this is the clearest sign yet that round-the-clock markets are the product, not a side feature. If equities keep migrating onchain, the wallets, bridges and liquidity you already use become the trading terminal — and whoever solves after-hours depth first captures the flow.