Nasdaq is seeking approval from US regulators to extend trading hours to 23 hours daily, introducing an overnight session from 9pm to 4am ET, with a proposed launch date of Sunday, December 6, 2026. The move would align traditional markets more closely with crypto exchanges, which have long operated on 24/7 models, and follows a surge in demand for continuous trading in equity perpetual futures.
The proposed expansion hinges on regulatory clearance and technical readiness, including the Securities Information Processor’s ability to support overnight operations. Some order types, such as unpriced market orders, will remain unavailable during the extended hours. Nasdaq’s plans come as equity perpetual futures trading reached $250 billion in monthly volume in July, with Binance accounting for 76% of that activity.
Crypto industry figures have highlighted the growing influence of blockchain innovations on traditional finance. BitGo’s CEO, Mike Belshe, said the sector’s contributions—such as tokenized stocks and stablecoins—have already driven meaningful change in conventional markets. Analyst Nate Geraci noted that traditional exchanges are “playing by crypto’s rules,” predicting a potential shift toward 24/7 trading in the future.
PayPal reported $486.4 billion in stablecoin payment volume in the second quarter, with its PYUSD stablecoin holding a $2.75 billion supply. The stablecoin market, tracked by DefiLlama, stood at $300 billion as of the latest data. However, the long-term impact of tokenized equities and stablecoins on mainstream adoption remains unconfirmed.
The success of the 23-hour model will depend on regulatory approval and market acceptance. While Nasdaq’s initiative reflects a broader trend of traditional finance adopting crypto-era practices, uncertainties around technical execution and the role of stablecoins in facilitating 24/7 trading persist.
Written by Oliver Grant
Markets Desk
