More Than Half of Tokenized U.S. Stock Trades Occur Outside Market Hours

More than half of tokenized U.S. stock trades occur outside regular market hours. The small and fragmented market still faces liquidity and financial-stability risks.

About 80% of transactions involve less than one share. The market supports fractional-share ownership and trading outside regular hours.

Overnight price movements contain useful information. More than 85% of those price changes are reflected in traditional stock prices within five minutes after the market opens.

tokenized markets remain small and fragmented. Tokenized stock trading may improve settlement and automation, but legal, liquidity and interoperability safeguards need to be strengthened.