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Points of Focus
- Tokenized-equity volume hit $9 billion in 2026, up 207% QoQ and 800% YTD.
- Jupiter volume rose 95% QoQ, with 55% traded outside regular market hours.
- Nasdaq expects 23/5 trading from Dec. 6, pending market-data readiness.
Onchain tokenized-equity trading has reached a record $9 billion in 2026 as activity expands beyond Wall Street’s regular session. The Kobeissi Letter reported a 207% quarter-on-quarter increase and an 800% year-to-date rise for onchain tokenized equities.
Jupiter’s routed tokenized-equity volume rose 95% quarter-on-quarter, with about 55% of activity occurring outside regular market hours. The split shows that extended-hours access already accounts for a majority of tokenized-equity trading routed through the Solana-based platform.
BREAKING: Total trading volume in onchain tokenized equities has reached $9 billion in 2026, a new record.
This marks +207% quarter-over-quarter growth and +800% in year-to-date growth.
This comes amid demand for exposure to high momentum stocks, particularly memory and storage… pic.twitter.com/S3aFV1Xg5D
— The Kobeissi Letter (@KobeissiLetter) August 18, 2026
Jupiter tokenized equity volume rises 95% QoQ
Jupiter gives traders access to tokenized versions of stocks and exchange-traded funds (ETFs) through its Solana trading interface. The platform routes trades across available liquidity sources, while third-party issuers create the tokens. Jupiter said it does not issue, back, or guarantee those assets.
The $9-billion figure measures cumulative trading activity, not the value of tokenized shares outstanding. RWA.xyz put distributed tokenized-stock value at $2.4 billion on Aug. 19. The measures cover different things, but the gap shows that 2026 trading turnover already exceeds the current value of distributed tokenized stocks.
Extended-hours access also carries liquidity limits. Trading schedules vary by issuer, with most tokenized stocks on Jupiter available 24/7. Jupiter said Ondo products generally follow a 24/5 schedule, while liquidity may be significantly lower outside regular US market hours, leading to wider spreads and greater price impact.
Nasdaq 23/5 plan would narrow the hours gap
Longer trading windows are also moving into traditional market infrastructure. Nasdaq’s rules now define a 23-hour trading framework, while its latest guidance says the transition is currently expected on Dec. 6, 2026, pending Securities Information Processor readiness and any applicable rule changes from the US Securities and Exchange Commission.
Nasdaq is also developing an issuer-led tokenized equity design that would connect blockchain records with a company’s official share registry. Under the proposed structure, transferring a token would represent a transfer of the underlying security while preserving its legal and regulatory status.
Jupiter’s 55% off-hours share shows how much routed tokenized-equity activity already occurs outside regular sessions. Nasdaq’s planned Night Session would run from 9 pm to 4 am ET, extending the exchange’s trading day to 23 hours.
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