Over 70% of Tokenized Stock Trading on BNB Chain Happens Outside US Market Hours

Most tokenized stock volume happens when US markets are closed

More than 70% of tokenized stock trading on BNB Chain takes place outside the standard US trading window of 9:30 AM to 4 PM Eastern time. On Solana, the figure is 63%, and on Base it is close to 60%, according to Blockworks data cited by The Kobeissi Letter.

Tokenized stocks are digital versions of shares issued on blockchains (the distributed ledgers that crypto networks use). Investors can buy and sell them on crypto platforms rather than traditional stock exchanges.

The trading patterns suggest that many users are choosing tokenized equities specifically because they can trade when US exchanges are shut, not just because they replicate what happens during normal market hours.

Key numbers

• 70%+ of BNB Chain tokenized stock volume falls outside US regular trading hours
• 63% on Solana, nearly 60% on Base
• Total tokenized stock value has risen 15% over the past 30 days to about $3.3 billion
• Jupiter, a major Solana-based trading platform, reported a 50% month-over-month increase in tokenized asset trading volume

The SEC opens a path for onchain stock trading

Last month, the US Securities and Exchange Commission (SEC) introduced an "innovation exemption" that would allow qualifying venues to trade tokenized US-listed stocks on public blockchains.

SEC Commissioner Mark Uyeda said venues participating under the exemption must publish transaction data in US dollars, including trade prices, sizes, timestamps, and daily trading volumes. They must also disclose the addresses and balances of any liquidity pools they use.

The exemption is different from existing tokenized stock products like xStocks and Ondo Global Markets, which are generally not available to US investors. Under the new rule, qualifying venues could offer tokenized US equities to domestic investors as long as they preserve shareholder rights and meet the stated trading and disclosure requirements.

Who is behind the growth

According to RWA.xyz data, the total value of tokenized stocks has climbed to nearly $3.3 billion. A significant share of that value is held by issuers such as Ondo Global Markets, xStocks, and bStocks, which issue and trade tokens across multiple blockchains.

What is confirmed

• The share of after-hours tokenized stock trading on BNB Chain, Solana, and Base is above 60% in each case, based on Blockworks data reported by The Kobeissi Letter.
• Tokenized stock values increased 15% over 30 days to roughly $3.3 billion, per RWA.xyz.
• The SEC introduced an innovation exemption for tokenized US-listed stocks in the month before this report was published.
• SEC Commissioner Mark Uyeda outlined disclosure requirements for venues using the exemption.

What is still unclear

• The sources do not provide a clear breakdown of how many individual investors are driving the after-hours trading volume.
• It is not stated how many venues have applied for or qualified under the SEC exemption.
• The long-term impact of the exemption on traditional stock exchanges is not addressed in the available material.

Why this matters

Traditional US stock markets only open for a six-hour window each weekday. The trading data shows that tokenized equities let investors trade outside that window, which could make them appealing to people in time zones where US markets are closed for most of the day.

The SEC exemption adds another layer of significance. If approved venues can legally offer tokenized US equities to domestic investors, it would bring a regulated version of onchain stock trading directly to the US market for the first time.

What happens next

The SEC has not announced specific venues that have been approved under the exemption or a timeline for further steps. No additional regulatory deadlines were provided in the available sources.

Sources

• Cointelegraph
• The Kobeissi Letter
• Blockworks
• RWA.xyz