IMF: Over Half of Tokenised Stock Trading Happens Outside Market Hours
- —IMF tracked five tokens (S&P 500, Nasdaq 100, Tesla, Alphabet, Nvidia) across 11 venues over 365 days
- —87–99% of overnight token moves show up in conventional shares in the first five minutes
- —Realised volatility in tokenised equities is roughly 1.5 times higher than in shares
- —Nasdaq, NYSE Arca and Cboe won approval for 23-hour US equity trading from December 2026
Why it matters: Tokenised equities are becoming a meaningful source of off-hours price signals, but thin liquidity and elevated volatility raise financial-stability concerns as the market grows.
Source: Bitfinex Blog