Tokenized equities hit $9B as after-hours trading surges

Tokenized equity trading volume reached $9 billion in July, up from $1 billion in January and $3.6 billion in May, according to Jupiter, a platform for tokenized stocks.

Off-hours trades account for 55% of Jupiter’s total tokenized equity volume. The company defines off-hours as trades executed after traditional U.S. stock exchanges close. Jupiter’s routed volume rose 95% quarter over quarter. Equity trading via tokens grew 207% in the same period, the company said.

Nasdaq plans to extend its trading day to 23 hours on weekdays, adding a session from 9 p.m. to 4 a.m. ET. The exchange said the move responds to demand from overseas investors who want to trade U.S. stocks during their local hours. The change is scheduled for Dec. 6, pending regulatory approval. Regular U.S. hours will still set official opening and closing prices.

Kraken opened U.S. stock trading to eligible European Economic Area customers. The platform offers more than 7,000 stocks and more than 700 tokenized equities. Kraken also provides access to 600 crypto assets through the same regulated account.

Robinhood offers 190 stock tokens across more than 120 countries but excludes its U.S. customer base. Vlad Tenev, Robinhood’s CEO, said on X: “America must continue to lead.”

The gap between what overseas investors can access and what U.S. investors can trade through crypto-native platforms is widening. Tokenized equity volume and extended exchange hours both point in the same direction: demand for 24/7 access to U.S. stocks is rising, and the infrastructure is catching up.