Tokenized Stocks Expand Beyond US Market Hours
Key Summary
Tokenized stocks are gaining traction beyond traditional US market hours, with over 70% of trading volume on BNB Chain and Solana occurring outside of regular trading windows. This trend is driven by the need for around-the-clock access to equities issued onchain, and is expected to continue as the US Securities and Exchange Commission's innovation exemption opens the door for qualifying platforms to trade tokenized US-listed stocks on public blockchains.
Tokenized Stock Trading Beyond US Market Hours
The trend of tokenized stock trading beyond US market hours is gaining momentum, with more than 70% of trading volume on BNB Chain and Solana occurring outside of regular trading windows.
According to data from RWA. xyz, the value of tokenized stocks has climbed 15% over the past 30 days to nearly $3.3 billion.
The trend is driven by the need for around-the-clock access to equities issued onchain, and is expected to continue as the US Securities and Exchange Commission's innovation exemption opens the door for qualifying platforms to trade tokenized US-listed stocks on public blockchains.
Existing offerings such as xStocks and Ondo Global Markets remain largely unavailable to US investors, limiting domestic participation in the growing market.
Bitcoin Mining and AI Expansion
Bitcoin mining companies expanding into artificial intelligence and high-performance computing face a widening gap in borrowing costs as lenders examine the risks of large-scale data center projects.
According to BlocksBridge Consulting’s Miner Weekly, securing AI customers is only part of the challenge. Miners also need billions of dollars to build facilities, purchase equipment and secure power infrastructure, with financing terms increasingly dependent on the customer and likelihood of project completion.
The financing needs are substantial. A June BlocksBridge analysis citing VanEck estimated that publicly traded Bitcoin miners required $50 billion to fund their AI infrastructure ambitions.
Proposed Accounting Rules for Stablecoins
A proposed change to US accounting standards could make stablecoins more attractive to corporate treasuries by allowing qualifying tokens to be treated as cash equivalents on company balance sheets.
Under current accounting practices, stablecoin holdings may not count toward a company’s reported cash reserves, potentially affecting liquidity ratios and loan covenants even when the tokens are fully backed by US dollars.
The Financial Accounting Standards Board (FASB) proposal could change that, though Tempo noted that companies would need direct redemption rights with stablecoin issuers to qualify.
Strive’s Expanding Bitcoin Treasury
Bitcoin treasury company Strive increased its holdings by more than 11% last week, using proceeds from warrant exercises to expand its cryptocurrency reserves while increasing Bitcoin exposure per share.
In a Tuesday filing with the SEC, Strive disclosed that it purchased 3,311 BTC during the week ending Oct. 9 at an average price of roughly $84,500 per coin.
The purchases brought its total holdings to 32,773 BTC, making it the fifth-largest publicly traded corporate Bitcoin holder.
Conclusion
The trend of tokenized stock trading beyond US market hours is expected to continue, driven by the need for around-the-clock access to equities issued onchain. The proposed accounting rules for stablecoins could also make stablecoins more attractive to corporate treasuries, and Strive’s expanding Bitcoin treasury is a sign of the growing interest in Bitcoin and cryptocurrency assets.