[DigitalToday reporter Jae-won Choi (최재원)] Tokenised products tracking stock prices traded more than $1.4 billion while U.S. equity markets were closed for the Labor Day holiday. The assessment is that demand for 24-hour stock trading, unconstrained by traditional market hours, was confirmed in the on-chain market.

According to blockchain media outlet The Defiant on Sept. 8 (local time), CoinGecko compiled 42 major tokens from Robinhood, bStocks, xStocks and Ondo Global Markets and found weekend trading value reached $1.01 billion. That was similar to $1.02 billion traded on Friday, when U.S. spot equity markets were open. Including $398.3 million traded on Labor Day, volume from Friday's close to before Tuesday's open was about $1.41 billion.

By platform, the Robinhood chain recorded $572.8 million over the weekend, accounting for 57 percent of the total. bStocks followed with $303.5 million, then xStocks from Backed Finance with $87.1 million and Ondo Global Markets with $43.8 million. The overall size of the tokenised stock market was tallied at about $2.89 billion.

The most traded product was QQQB, which tracks the Nasdaq 100 ETF QQQ. Weekend trading alone reached $180.5 million. The token's circulating value was only $1.34 million, but 24-hour turnover was $87.8 million, about 65 times as much. The price was $719.36, little different from QQQ's Friday close of $718.96.

AMC token traded $103.1 million, SPY $125.5 million and Nvidia (NVDA) $73.9 million. Most trading took place on decentralised exchanges (DEXs). These products do not have the same legal structure as actual shares, and shareholder rights such as voting rights are not provided depending on the platform. The fact that trading continued while U.S. equity markets were closed is assessed as an example showing the possibility of a 24-hour market for tokenised securities.