Most Tokenized Stock Trading on Jupiter Happens After Wall Street Closes
Tokenized equity markets are expanding rapidly, with most decentralized-exchange activity taking place outside traditional U.S. stock-market hours and Solana emerging as a major venue.
Most trading in tokenized stocks on Jupiter takes place after traditional U.S. stock exchanges close, highlighting demand for continuous access to equity exposure. The trend comes as tokenized-equity markets expand across blockchain networks and decentralized finance.
After-Hours Trading Drives Activity
Approximately 65% of decentralized-exchange trading in tokenized stocks occurred outside regular U.S. market hours between October 2 and October 31, according to Bitquery research cited by Crypto Briefing. Weekend activity represented 18% of the total, despite conventional stock exchanges being closed.
Blockworks data showed a similar pattern on major networks. Around 63% of tokenized-equity trading on Solana occurred outside regular market hours, compared with nearly 60% on Base.
The data suggests that continuous trading—not just blockchain-based settlement—is a central appeal of tokenized equities. Traders can access these markets during evenings and weekends, when traditional venues offer limited or no activity.
Tokenized Equities Expand Across Solana and DeFi
The value of tokenized equities reached $3.8 billion in early October, up from $654 million at the beginning of the year, according to DWF Labs. RWA.xyz data put the market at approximately $3.58 billion on November 2, representing growth of more than 10% over the prior 30 days.
Trading activity has grown even faster:
- Weekly spot volume on decentralized exchanges rose from $45.8 million in January to $2.54 billion in early October.
- Weekly token transfers increased from $420 million to $17.5 billion during the same period.
- Binance bStocks, Ondo Finance and xStocks represented nearly 80% of tracked tokenized-equity value.
- Tokenized-equity trading on Solana reached $7.1 billion in the third quarter, up 40% from the previous quarter.
September alone produced a record $4.4 billion in Solana tokenized-equity trading. Across tracked blockchains, quarterly volume reached $49.7 billion, roughly nine times the second-quarter level. Tokenized stocks are also entering DeFi, with about $313 million deployed in lending markets and liquidity pools by mid-October—approximately 20 times January’s level.
What This Means
The growth positions Solana and Jupiter as important venues for markets that operate beyond Wall Street’s schedule. Traditional financial institutions are responding: the New York Stock Exchange has proposed infrastructure for 24-hour tokenized stocks and ETFs, while its parent, Intercontinental Exchange, agreed to pursue regulated perpetual-futures markets with Trade[XYZ].
However, after-hours liquidity carries risks. Tokenized stocks can diverge from the underlying market, and Bitquery found that weekend prices often failed to anticipate Monday openings before adjusting when traditional futures markets reopened. Regulatory approval, liquidity and price discovery remain significant constraints. Even at $3.8 billion, tokenized equities represent only about 0.005% of the approximately $75 trillion U.S. equity market, leaving substantial room for growth but also underscoring the market’s early stage.