Tokenized equities are increasingly being traded when traditional US exchanges are dormant, highlighting a potential advantage of moving stocks onto public blockchains.
After-hours dominance on leading chains
Data compiled by Blockworks and referenced in a recent market brief shows that the bulk of tokenized stock activity now happens outside the 9:30 am-4 pm Eastern window. Over 70% of the volume on BNB Chain occurs after the regular session, while Solana registers 63% and Base approaches 60%. These percentages suggest that investors are leveraging the always-on nature of blockchain markets rather than simply mirroring daytime activity.
Momentum in trading volumes
Jupiter, a prominent Solana-based trading hub, reported a 50% month-over-month jump in the amount of tokenized assets exchanged on its platform. Across the ecosystem, the total market value of tokenized stocks rose by about 15% in the past month, reaching roughly $3.3 billion, according to analytics firm RWA.xyz. A sizable share of that capital is tied to issuers such as Ondo Global Markets, xStocks and bStocks, whose tokens are listed on multiple chains.
Regulatory shift opens domestic pathways
The Securities and Exchange Commission recently introduced an “innovation exemption” that permits qualified venues to list tokenized US-listed equities on public blockchains. Under the new rules, participating platforms must publish transaction details—including price, size, timestamp and daily volume—in US dollars, and disclose the addresses and balances of liquidity pools. This framework contrasts with earlier tokenized stock products, which were generally inaccessible to US investors. By meeting the disclosure and shareholder-rights criteria, venues could now offer on-chain equities to domestic traders.
Potential impact for investors
The convergence of high after-hours trading activity and a clearer regulatory environment may encourage more participants to explore on-chain equity exposure. Continuous market access could attract traders seeking to react to news events outside traditional hours, while the SEC’s exemption may reduce the legal uncertainty that previously limited US-based participation. However, investors will still need to assess liquidity, custody and compliance considerations inherent to blockchain-based securities.
Why it matters
The trend toward round-the-clock tokenized stock trading underscores a broader shift in how equities can be accessed and priced. Coupled with regulatory developments that could bring US investors onto public chains, the landscape for digital equity markets is poised for rapid evolution, potentially reshaping liquidity dynamics and the role of traditional exchanges.
