Base

Bitcoin

<p>Tokenized stocks are increasingly trading around the clock, and new data suggests the “after-hours” use case is no longer a niche experiment. According to Blockworks figures cited by The Kobeissi Letter, more than 70% of tokenized stock trading volume on <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/binance-coin/">BNB</a> Chain happens outside the traditional U.S. market session. Similar patterns—though slightly lower—are visible on <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/solana/">Solana</a> and Base, pointing to a growing demand for equities access that does not depend on Wall Street’s opening bell.</p>
<p>At the same time, parts of the tokenized-stock ecosystem still appear difficult to access for U.S. investors. That gap matters as regulators begin creating pathways for compliant tokenized trading. In parallel, other business developments—from <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/bitcoin/">Bitcoin</a> treasury expansion to proposed stablecoin accounting changes—are shaping how corporate players may engage with crypto over the next cycle.</p>
<h2 id="key-takeaways">Key takeaways</h2>
<ul>
 <li>Over 70% of tokenized stock trading volume on <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/binance-coin/">BNB</a> Chain occurs outside regular U.S. market hours, with <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/solana/">Solana</a> at 63% and Base near 60%, per Blockworks data cited by The Kobeissi Letter.</li>
 <li>Tokenized equities are positioned as “anytime” access for investors, potentially redistributing liquidity across the day rather than concentrating it in U.S. hours.</li>
 <li>The U.S. SEC’s innovation exemption for certain tokenized stock trading may expand qualifying offerings, but existing products remain largely unavailable to American investors.</li>
 <li><a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/bitcoin/">Bitcoin</a> treasury company Strive reported purchasing 3,311 <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/bitcoin/">BTC</a> during the week ending Oct. 9 at an average price of about $84,500, increasing total holdings to 32,773 <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/bitcoin/">BTC</a>.</li>
 <li>Proposed U.S. accounting updates could allow certain stablecoin holdings to be treated as cash equivalents, but Tempo notes companies would need direct redemption rights to qualify.</li>
</ul>
<h2 id="after-hours-demand-becomes-a-core-feature-of-tokenized-stocks">After-hours demand becomes a core feature of tokenized stocks</h2>
<p>While tokenized equities often get marketed as a bridge to traditional markets, the most striking signal in current onchain activity is timing. According to Blockworks data highlighted by The Kobeissi Letter, trading volume for tokenized stocks on BNB Chain is overwhelmingly concentrated outside the 9:30 a.m. to 4:00 p.m. Eastern window.</p>
<p>On Solana, the share of trading outside regular U.S. hours stands at 63%, while Base is close to 60%—figures that, taken together, suggest around-the-clock liquidity is becoming a defining attribute of tokenized stock markets.</p>
<p>Growth in the underlying market reinforces that interpretation. Jupiter reported a 50% month-over-month increase in tokenized asset trading volume, while RWA.xyz data shows the value of tokenized stocks rising 15% over the past 30 days to nearly $3.3 billion.</p>
<p>One practical implication for investors is that “market hours” may matter less for certain participants. If tokenized equities routinely trade when U.S. exchanges are closed, investors in different time zones can execute and manage exposure without waiting for U.S. opening times. That can also change where liquidity sits throughout the day—an issue for traders who rely on spreads and depth during specific sessions.</p>
<h2 id="regulatory-pathways-exist-but-u-s-access-remains-uneven">Regulatory pathways exist, but U.S. access remains uneven</h2>
<p>The momentum toward 24/7 trading arrives alongside a shifting regulatory backdrop. Earlier coverage noted that the U.S. Securities and Exchange Commission has introduced an innovation exemption approach for qualifying platforms to trade tokenized U.S.-listed stocks on public blockchains, subject to disclosure and shareholder protection requirements.</p>
<p>However, the onchain ecosystem does not automatically translate into broad U.S. retail access. The existing tokenized-stock offerings referenced in industry reporting—such as xStocks and <a rel="noopener noreferrer nofollow" href="https://med.etoro.com/B10215_A127826_TClick_Scb-ondo.aspx?TargetURL=https://www.etoro.com/markets/ondo">Ondo</a> Global Markets—remain largely unavailable to U.S. investors, which limits how much of the activity can be attributed to domestic demand.</p>
<p>That tension is important for market watchers: if after-hours trading continues to dominate activity globally, the future scale of the market may hinge less on user behavior and more on which tokenized equity platforms gain approval to serve U.S. participants. For traders and builders, the key question is whether regulatory-compliant platforms can expand the customer base enough to move beyond “off-hours” participation by non-U.S. users.</p>
<h2 id="strive-s-bitcoin-expansion-underlines-treasury-strategy-momentum">Strive’s Bitcoin expansion underlines treasury strategy momentum</h2>
<p>Outside tokenized equities, Bitcoin treasuries remain active, and Strive’s latest disclosures illustrate how corporate demand is being expressed in measured, tranche-like purchases. In a Tuesday filing with the SEC, Strive said it bought 3,311 BTC during the week ending Oct. 9 at an average price of roughly $84,500 per coin.</p>
<p>The purchases lifted its total holdings to 32,773 BTC, placing the company among the largest publicly traded corporate Bitcoin holders. The filing also attributed the buying to warrant activity: Strive said investors exercised $208 million in warrants, with about $15.3 million still outstanding ahead of Tuesday’s expiration.</p>
<p>The filing period also included changes to governance. Strive amended its governing documents to set a binding $100 minimum issuance price for its SATA preferred shares, which were trading around $99.40 at the time referenced in the report.</p>
<p>For investors, this matters because treasury-led buying can become a persistent demand channel—particularly when financed by warrant exercises rather than immediate new equity issuance. It also means that short-term market moves in Bitcoin may not fully dictate corporate accumulation schedules, even when share prices and treasury average purchase prices diverge.</p>
<h2 id="bitcoin-miners-ai-pivot-runs-into-financing-math">Bitcoin miners’ AI pivot runs into financing math</h2>
<p>Bitcoin mining companies looking to expand into artificial intelligence and high-performance computing face a practical constraint: the cost of capital appears to be rising, especially as lenders scrutinize the risks of large-scale data center projects.</p>
<p>BlocksBridge Consulting’s <em>Miner Weekly</em> frames the issue as more than just finding AI customers. Miners still need billions of dollars for facilities, equipment, and power infrastructure, and financing terms increasingly depend on customer commitments and the likelihood that projects will be completed.</p>
<p>Recent deals illustrate how lender terms can vary by project. IREN reportedly secured $3.65 billion in financing in June at a blended interest rate of 6%, then another $2.4 billion in August at a fixed 9% rate. BlocksBridge notes the projects are not identical, making direct comparisons imperfect—but the broader takeaway is that capital markets are pricing these expansions with meaningful risk premiums.</p>
<p>Funding requirements are large. A June BlocksBridge analysis cited by <a rel="noopener noreferrer nofollow" href="https://sovrn.co/1h8llaz">Cointelegraph</a>, referencing VanEck, estimated publicly traded Bitcoin miners required $50 billion to fund AI infrastructure ambitions. IREN alone was cited with a $21.1 billion funding gap, followed by <a rel="noopener noreferrer nofollow" href="https://med.etoro.com/B10215_A127826_TClick_Scb-RIOT.aspx?TargetURL=https://www.etoro.com/markets/RIOT">Riot Platforms</a> at $7.2 billion and <a rel="noopener noreferrer nofollow" href="https://med.etoro.com/B10215_A127826_TClick_Scb-hive.aspx?TargetURL=https://www.etoro.com/markets/hive">HIVE Digital Technologies</a> at $4.6 billion.</p>
<p>Investors tracking miner balance sheets may want to watch how quickly miners can secure customer revenue and convert that into financeable, bankable plans—because the bottleneck may shift from “whether AI is the next bet” to “whether the project can be funded cheaply enough to matter.”</p>
<h2 id="stablecoin-accounting-proposal-could-change-how-corporations-report-cash">Stablecoin accounting proposal could change how corporations report cash</h2>
<p>Another development with potential downstream impact for mainstream adoption is an accounting proposal in the United States that could improve stablecoins’ balance-sheet treatment. According to a report from payments blockchain Tempo, proposed changes to U.S. accounting standards could allow qualifying stablecoin holdings to be treated as cash equivalents.</p>
<p>Under current accounting practices, stablecoin holdings may not automatically count toward reported cash reserves, which can affect liquidity ratios and loan covenants—issues that can arise even when the tokens are backed by U.S. dollars.</p>
<p>The proposed approach, Tempo notes, is not simply “hold stablecoins, get cash-equivalent treatment.” Companies would need direct redemption rights with stablecoin issuers to qualify. Tempo specifically cautioned that buying USDC through a cryptocurrency exchange may not satisfy that requirement, depending on the structure of redemption access.</p>
<p><a rel="noopener noreferrer nofollow" href="https://med.etoro.com/B10215_A127826_TClick_Scb-coinbase.aspx?TargetURL=https://www.etoro.com/markets/coin">Coinbase</a>, for its part, already classified USDC and other payment stablecoins as cash equivalents in its 2025 annual report, citing its redemption arrangement with <a rel="noopener noreferrer nofollow" href="https://med.etoro.com/B10215_A127826_TClick_Scb-circle.aspx?TargetURL=https://www.etoro.com/markets/crcl">Circle</a> as support for that treatment.</p>
<p>The proposal is open for public comment until Nov. 19. After that, FASB will review submissions before determining final rules and their effective date—details that market participants will likely treat as decisive for how quickly corporate demand could translate into higher stablecoin usage.</p>
<p>As after-hours tokenized stock trading accelerates globally, the next watchpoint is whether U.S.-accessible offerings expand in step with regulatory clarity. In parallel, miners’ ability to finance AI-adjacent expansion and the final shape of stablecoin accounting rules could materially influence how quickly corporate capital flows back into crypto-related rails.</p>
<p>This article was originally published as <a href="https://www.cryptobreaking.com/wall-streets-4-p-m/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Wall Street’s 4 p.m. close boosts tokenized stock trading</a> on <a href="https://www.cryptobreaking.com/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Crypto Breaking News</a> – your trusted source for crypto news, Bitcoin news, and blockchain updates.</p>

Wall Street’s 4 p.m. close boosts tokenized stock trading

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