Key facts
- Over 70% of tokenized stock trading on BNB Chain occurs outside US market hours.
- 63% of tokenized stock trading on Solana occurs outside US market hours.
- Nearly 60% of tokenized stock trading on Base occurs outside US market hours.
- Tokenized stock values have increased by 15% in 30 days to nearly $3.3 billion.
- The SEC introduced an "innovation exemption" for trading tokenized US-listed stocks on public blockchains.
Most trading of tokenized stocks on blockchains like Solana and BNB Chain is occurring outside of traditional US market hours, suggesting a growing demand for 24/7 trading access. Data cited by The Kobeissi Letter indicates that over 70% of tokenized stock trading volume on BNB Chain, 63% on Solana, and nearly 60% on Base takes place outside the 9:30 am to 4 pm Eastern trading session.
Jupiter, a prominent Solana-based trading platform, reported a 50% increase in tokenized asset trading volume month-over-month. This trend suggests that investors are utilizing tokenized stocks for trading opportunities when US exchanges are closed, rather than merely replicating activity during regular hours.
The overall value of tokenized stocks has seen a 15% rise in the past 30 days, reaching close to $3.3 billion, according to RWA.xyz data. Key issuers contributing to this value include Ondo Global Markets, xStocks, and bStocks.
This growth in round-the-clock trading coincides with regulatory developments in the US. The Securities and Exchange Commission (SEC) recently introduced an "innovation exemption" that permits qualifying venues to trade tokenized US-listed stocks on public blockchains. SEC Commissioner Mark Uyeda stated that participating venues will be required to publish transaction data in US dollars, including trade prices, sizes, timestamps, and daily trading volumes, as well as disclose liquidity pool addresses and balances. This exemption aims to allow domestic trading of tokenized US equities, provided shareholder rights are preserved and trading and disclosure requirements are met, distinguishing them from existing products like xStocks and Ondo Global Markets which are generally not available to US investors.