Data from Blockworks, cited by The Kobeissi Letter, indicates that the majority of tokenized stock trading on major blockchains occurs outside traditional US market hours. Specifically, more than 70% of volume on BNB Chain takes place outside the 9:30 am to 4 pm Eastern session, while the figure stands at 63% on Solana and nearly 60% on Base. This pattern suggests investors are utilizing these assets for around-the-clock access rather than simply replicating daytime equity activity.
Concurrently, Jupiter, a prominent Solana-based trading platform, reported a 50% month-over-month increase in tokenized asset trading volume. The broader market for tokenized stocks has seen its total value rise by 15% over the past 30 days to approximately $3.3 billion, according to RWA.xyz data. A significant portion of this capital is concentrated among issuers such as Ondo Global Markets, xStocks, and bStocks, which operate across multiple blockchain networks.
The dominance of off-hours trading highlights a structural advantage of tokenized equities: they decouple liquidity provision from centralized exchange operating schedules. Unlike traditional markets, where after-hours trading is often restricted by broker availability and lower liquidity depth, on-chain venues provide continuous access. This utility drives adoption among global participants who may be in different time zones or seeking immediate reaction to overnight news without waiting for the next opening bell.
However, this growth introduces operational risks regarding price discovery and regulatory oversight. With values rising to $3.3 billion, the concentration of issuance among specific entities like Ondo and xStocks creates potential single points of failure or compliance bottlenecks. Furthermore, the lack of synchronized closing prices between on-chain tokens and underlying traditional assets could lead to arbitrage opportunities or pricing discrepancies that challenge the stability of these synthetic instruments.
