Most tokenized stock trading on BNB Chain, Solana happens outside US market hours
In brief
- BNB Chain saw over 70% of tokenized stock volume trade outside 9:30 am to 4 pm Eastern.
- Solana's after-hours share was 63% and Base's nearly 60%, per Blockworks data.
- Tokenized stock values rose 15% in 30 days to nearly $3.3 billion, RWA.xyz data shows.
- Jupiter reported a 50% month-over-month jump in tokenized asset trading volume.
- SEC innovation exemption lets qualifying venues offer tokenized US equities domestically.
After-hours share by chain
More than 70% of tokenized stock trading volume on BNB Chain occurred outside the 9:30 am to 4 pm Eastern session, according to Blockworks data cited by The Kobeissi Letter. On Solana the figure was 63%, and on Base it was nearly 60%.
That's a majority on all three chains.
Cointelegraph read the numbers as a sign that investors are using tokenized stocks to trade when traditional US exchanges are closed. It's the publisher's interpretation of the volume split (the data itself only shows when the trades happened), so it's worth treating that way.
Value climbs, Jupiter volume jumps
Tokenized stock values rose 15% over the past 30 days to nearly $3.3 billion, per RWA.xyz data. A significant portion of that value is concentrated among a few issuers (Ondo Global Markets, xStocks and bStocks), whose tokens are issued and traded across different blockchains.
Solana's activity isn't limited to one venue. Jupiter, a major Solana-based trading platform, reported a 50% month-over-month increase in tokenized asset trading volume.
SEC exemption opens a US lane
Existing products like xStocks and Ondo Global Markets have generally been unavailable to US investors. The SEC's "innovation exemption," which Cointelegraph said was introduced the month before its report, allows qualifying venues to trade tokenized US-listed stocks on public blockchains and offer them domestically, provided they preserve shareholder rights and meet trading and disclosure requirements.
Those requirements are specific. SEC Commissioner Mark Uyeda said participating venues must publish transaction data in US dollars, including trade prices, sizes, timestamps and daily trading volumes. They'll also have to disclose liquidity pool addresses and balances, according to Cointelegraph's report.
For on-chain venues that want to serve US users, that means public reporting down to the pool level.
Frequently asked questions
How much tokenized stock trading happens outside US market hours?
Blockworks data cited by The Kobeissi Letter showed more than 70% of tokenized stock trading volume on BNB Chain occurred outside the 9:30 am to 4 pm Eastern session. The share was 63% on Solana and nearly 60% on Base, Cointelegraph reported.
What does the SEC innovation exemption require from tokenized stock venues?
The exemption allows qualifying venues to trade tokenized US-listed stocks on public blockchains if they preserve shareholder rights and meet trading and disclosure rules. SEC Commissioner Mark Uyeda said venues must publish US dollar transaction data, including trade prices, sizes, timestamps and daily volumes, and disclose liquidity pool addresses and balances.
