BNB Chain 和 Solana 上大部分代币化股票交易发生在美东时间之外

Most trading in tokenized stocks on major blockchains now takes place outside regular US market hours, offering an early indication that around-the-clock trading could be one of the biggest advantages of putting equities onchain.

According to Blockworks data cited by The Kobeissi Letter, more than 70% of tokenized stock trading volume on BNB Chain occurs outside the traditional 9:30 am to 4 pm Eastern trading session. The figure is 63% on Solana and nearly 60% on Base.

Meanwhile, Jupiter, a major Solana-based trading platform, reported a 50% month-over-month increase in tokenized asset trading volume.

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.

Related: Winners and losers of the SEC’s new tokenized stocks rules

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.

Related: Crypto Biz: Wealthy investors are buying crypto, but their advisers aren’t sold

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