Tokenized equities are increasingly trading outside traditional US market hours, with over 70% of volume on BNB Chain occurring beyond the standard 9:30 am to 4:00 pm Eastern window. Similar patterns are emerging on Solana and Base, where off-hours activity accounts for 63% and nearly 60% of trading volume, respectively. This shift suggests that around-the-clock access is becoming a primary driver for onchain stock adoption, allowing investors to trade across time zones without waiting for Wall Street’s opening bell.
The total value of tokenized stocks has climbed 15% over the past 30 days to approximately $3.3 billion, according to RWA.xyz data. Jupiter reported a 50% month-over-month increase in tokenized asset trading volume. While the US Securities and Exchange Commission’s innovation exemption permits qualifying platforms to trade tokenized US-listed stocks on public blockchains under specific disclosure requirements, major existing offerings like xStocks and Ondo Global Markets remain largely unavailable to American investors, limiting domestic participation despite the growing global liquidity.
In other developments, Bitcoin treasury company Strive increased its holdings by more than 11% last week, purchasing 3,311 BTC at an average price of roughly $84,500 per coin. The purchases brought its total reserves to 32,773 BTC, making it the fifth-largest publicly traded corporate Bitcoin holder. Strive utilized proceeds from $208 million in warrant exercises to fund these acquisitions. Meanwhile, a proposed change to US accounting standards by the Financial Accounting Standards Board could allow companies to treat qualifying stablecoins as cash equivalents, potentially enhancing their appeal to corporate treasuries.
The migration of tokenized equity trading to off-hours windows indicates a structural divergence between traditional finance schedules and blockchain-native liquidity models. By decoupling from the New York Stock Exchange's operating hours, these assets offer continuous price discovery and settlement capabilities that legacy markets cannot match. However, the regulatory friction remains significant; while the SEC’s innovation exemption provides a pathway for compliant platforms, the exclusion of US retail investors from major providers creates a bifurcated market where global liquidity grows independently of domestic accessibility.
Strive’s aggressive accumulation of Bitcoin using warrant proceeds highlights the evolving capital structure strategies of digital asset treasury companies. By leveraging equity instruments to purchase crypto assets, these firms aim to increase Bitcoin exposure per share, effectively arbitraging the valuation gap between their stock price and their net asset value. This strategy relies heavily on sustained investor confidence in both the underlying cryptocurrency and the company’s ability to manage dilution risks through preferred share amendments and minimum issuance prices.
