Most tokenized stock trading on Solana, BNB Chain occurs outside US market hours

Source: The Kobeissi Letter

The figures suggest investors use tokenized stocks to trade when traditional US exchanges are closed, rather than simply replicating activity during regular market hours.

The growth comes as tokenized stock values have increased by 15% over the past 30 days to nearly $3.3 billion, according to RWA.xyz data. A significant portion of that value is concentrated among issuers such as Ondo Global Markets, xStocks and bStocks, whose tokens are issued and traded across different blockchains.

Wall Street moves toward onchain stock trading

The growth in round-the-clock trading comes as US regulators begin opening the door to tokenized equities in traditional markets. Last month, the Securities and Exchange Commission (SEC) introduced an “innovation exemption” allowing qualifying venues to trade tokenized US-listed stocks on public blockchains.

SEC Commissioner Mark Uyeda said participating venues must publish transaction data in US dollars, including trade prices, sizes, timestamps and daily trading volumes. They must also disclose liquidity pool addresses and balances.

Unlike existing tokenized stock products such as xStocks and Ondo Global Markets, which are generally unavailable to US investors, the SEC exemption allows qualifying venues to offer tokenized US equities domestically, provided they preserve shareholder rights and meet trading and disclosure requirements.