On January 19, 2026, Eastern Standard Time, multiple cryptocurrency and financial media outlets cited sources stating that the New York Stock Exchange (NYSE) is developing a tokenized securities platform and plans to launch a 24/7 trading system covering U.S. listed stocks and ETFs, attempting to transition U.S. stocks from "six and a half hours a day" to "year-round trading." Currently, this plan has not been officially confirmed by the NYSE, and related reports mainly come from multiple sources such as PANews, Jinse Finance, and Odaily Planet Daily, with the authenticity and implementation timeline of the news needing to be approached with caution. Regardless of the outcome, if the century-old NYSE actively embraces tokenization and around-the-clock trading, it signifies that traditional Wall Street infrastructure is moving closer to a crypto-native trading model, and the boundaries between traditional securities markets and on-chain economies are being reimagined.

The Century-Old NYSE Aims for 24/7 U.S. Stock Trading

According to reports from PANews, Rhythm, Jinse Finance, and Planet Daily on January 19, the core of this concept is to create a new platform led by the NYSE that supports tokenized securities and, based on this, allows U.S. stocks and ETFs to achieve uninterrupted 24/7 trading. The reports mention that the platform plans to accommodate the tokenized forms of existing U.S. listed stocks and some ETFs, and through technological and institutional design, achieve around-the-clock matching and clearing, thereby breaking through the traditional framework of fixed opening and closing times in New York local time. Compared to the current U.S. stock market system of "opening on weekdays and closing on holidays," 24/7 continuous trading not only expands the duration several times but also directly changes the access methods for global investors: Asian and European investors will no longer be forced to adapt to the Eastern Time Zone and can trade tokenized U.S. stocks directly during local daytime, making cross-time-zone capital allocation and hedging strategies more flexible. Market reports generally believe that if this plan progresses, it will substantially impact the existing capital market structure. PANews commented that this will provide infrastructure for the tokenization of traditional securities and the extension of trading hours, while Rhythm pointed out that this attempt could have significant implications for the global capital market structure and the digital asset ecosystem. However, the regulatory approval path, specific technical architecture, and official launch timeline have not yet been disclosed, and all current public information remains at the "exposed plan" stage, with considerable uncertainty remaining before actual implementation, and investors should avoid treating it as a foregone conclusion.

From Bitcoin to U.S. Stocks: A Cultural Clash of Non-Stop Trading

If we extend the timeline, we can see that this idea of "24/7 U.S. stocks" is actually a close encounter after a long-standing opposition between two market cultures. On one side is the 24-hour uninterrupted cryptocurrency trading culture that has formed since the birth of Bitcoin: whether in spot or derivatives, mainstream cryptocurrency exchanges are online all day, prices can fluctuate dramatically on weekends and holidays, and on-chain clearing and margin mechanisms are always in effect. On the other side is the traditional securities market represented by the NYSE, which adheres to a segmented opening and closing system, using trading halts and settlement windows outside trading hours to digest information and manage risks. For over a decade, these two rhythms and risk perceptions have existed in almost opposing ways. Now, the Bitcoin network itself is also in a phase of high volatility and restructuring: according to Odaily Planet Daily, since the peak in October 2025, Bitcoin network hash power has fallen by about 15%, and the so-called "miner surrender" state has lasted for nearly 60 days, with the hash rate indicator reversing on November 29. This series of on-chain signals indicates that the crypto-native economy is undergoing a structural adjustment, with the balance between mining revenue, spot prices, and derivatives leverage being disrupted, and capital and risk are being redistributed. In this context, comparing cryptocurrency exchanges with traditional centralized infrastructures like the NYSE reveals differences in their adaptability to 24/7 trading in terms of matching, clearing, and risk control: cryptocurrency trading platforms have built systems around continuous matching and real-time position management from the start, with settlement cycles and margin mechanisms being highly real-time, while traditional securities markets rely on centralized settlement cycles like T+1 and T+2, depending more on the batch processing of clearinghouses and custodial systems. The NYSE's attempt at tokenization and around-the-clock trading is largely an effort to align with the mature experiences of the crypto market in continuous trading and real-time risk management, trying to transplant a trading rhythm more suited to the globalization and digital age for traditional securities without fully replicating on-chain logic.

Custody and Clearing Being Disrupted: Tokenized Securities Reshaping the Interest Landscape

If the NYSE is advancing not just "longer trading hours," but a full-chain transformation using tokenized securities as a vehicle, the impact will not only touch the exchange's operating hours but also the overall structure of custody, clearing, and settlement. In the traditional securities market, a stock transaction typically goes through multiple intermediaries such as brokers, exchanges, clearinghouses, and custodial banks, ultimately completing the final delivery of ownership and funds within a few days on a T+2 or similar cycle. Tokenized securities could potentially complete the change of ownership and the transfer of funds within the same technological stack through on-chain accounting, replacing some manual and batch processing with smart contracts or layered accounting systems. This mechanism does not necessarily equate to complete on-chain settlement, but as long as it approaches real-time reconciliation and multi-party shared ledgers technically, it is sufficient to exert pressure on the current T+2 settlement cycles, pushing the market towards higher frequency or even near real-time settlement methods. In terms of interest distribution, if securities circulate in token form, the role of brokers in account custody and trade order transmission may be partially weakened, the custodial banks' buffering function between nominal and beneficial owners will diminish, and the position of clearing institutions as "final counterparties" may also be technically resolved into programmatic rules, with traditional fee models and bargaining power facing renegotiation. It is important to emphasize that there are currently no public details regarding whether the NYSE platform will adopt complete on-chain settlement, whether it will support layered accounting or other hybrid architectures, and whether fractional equity or specific tokens will be introduced as funding settlement mediums; these all belong to unverified directions, and any specific technical solutions can only remain in the realm of possibilities until official information is disclosed, and cannot be regarded as established designs.

Whales Moving Chips: On-Chain Capital Seeking a New "Home Ground"

In terms of on-chain capital flow, the recent market has also provided some intriguing insights. According to disclosures from PANews and others, the same whale address recently borrowed about $155 million USDT through a lending protocol and then made a large purchase of approximately 65,700 stETH, with the timing overlapping with the decline in Bitcoin hash power and the "miner surrender" phase. This action is widely interpreted as large funds actively shifting from mining or static holding to more liquid and yield-generating DeFi assets, reflecting that current internal crypto funds are accelerating their migration from mining power and hardware investments to on-chain derivatives and high liquidity positions. Combining the backdrop of declining hash power and the reversal of hash rates, it can be seen that when miners are under pressure and on-chain block rewards cannot cover costs, capital is more inclined to leave the high fixed-cost mining business and seek more flexible returns in DeFi, staking, and liquidity pools. If we further expand our view, assuming that the NYSE really opens 24/7 trading for tokenized U.S. stocks and ETFs in the future, such flexible and institutionally-oriented whale capital could very well see it as a new asset allocation destination: on one hand, viewing tokenized U.S. stock assets as tools to hedge against crypto volatility, utilizing the correlation between different asset classes for cross-market arbitrage and hedging; on the other hand, treating it as "offshore-like assets" that can be traded in any global time zone, optimizing capital efficiency within the regulatory framework. However, it must be noted that there is currently no direct causal relationship between the on-chain whale behavior and the NYSE's tokenization plan, which has not yet received official confirmation, nor is there a specific timeline for opening. We can only view this capital migration as a general desire for higher liquidity and more mature infrastructure in the market, and the connection with the NYSE's movements is currently more of an emotional and directional resonance rather than a confirmed logical loop.

Regulatory Games and Internal Interest Pulls on Wall Street

When 24/7 U.S. stocks and tokenized securities transition from concept to reality, the first issues to be addressed will inevitably be the challenges from a regulatory perspective. The current investor protection system is built around limited trading hours and clear announcement windows; once it shifts to around-the-clock trading, the rhythm of information disclosure, mechanisms for halting trading on significant events, and standards for identifying insider trading and market manipulation will all need to be rewritten. For example, if a company releases significant news over the weekend or triggers dramatic fluctuations during non-traditional trading hours, how to ensure that retail investors have enough time to digest the information, and how to define "normal fluctuations" versus "manipulative behavior," will become more complex. Meanwhile, traditional brokers, market makers, and high-frequency trading firms will also face pressure in terms of costs and strategies. An all-day market means longer risk control monitoring times, more complex liquidity management, and maintenance of risk models; high-frequency strategies may have to be redesigned to adapt to a continuous quoting environment across time zones and asset classes. For many strategies that rely heavily on pre-market and after-hours pricing or intraday range fluctuations, once prices are continuously jumping all day, the original statistical characteristics may fail, and the technical investment and labor costs for strategy teams will inevitably rise. In this landscape, for the NYSE to promote tokenization and the 24/7 plan, it will inevitably engage in a long-term game with regulatory agencies, industry associations, and traditional giants controlling the custody and clearing systems. On one hand, it needs to persuade regulators that the new trading mechanism will not weaken investor protection or amplify systemic risks; on the other hand, it must find a balance in the redistribution of interests in custody, clearing, and intermediary services that does not completely "decentralize" while improving efficiency. Currently, there is no public information regarding specific regulatory processes or the division of roles among participants, especially regarding the roles of any large custodial banks or clearing institutions, which lack reliable sources of support. Therefore, when discussing this topic, it is necessary to deliberately avoid speculating on the roles of specific institutions to prevent misreading the still embryonic concept as an already formed alliance plan.

If U.S. Stocks Go On-Chain: The Intersection of the Crypto World and Traditional Finance

In summary, if the NYSE's involvement in tokenized securities and attempts at 24/7 trading materialize, it will not only be a matter of a new product or new trading hours but could become one of the starting points for the structural reshaping of global capital markets and the crypto ecosystem. From a macro structural perspective, traditional assets going on-chain and around-the-clock trading will drive a redistribution of global capital across time and space dimensions, breaking the binary rhythm of "U.S. stocks on weekdays, crypto on weekends," allowing risk and liquidity to flow continuously over a longer time axis. From within the crypto ecosystem, if U.S. stocks and mainstream ETFs enter the same technological stack in token form, the boundaries between on-chain native assets and traditional securities will continue to dissolve, and some DeFi protocols may evolve into funding routers connecting the two worlds, giving rise to new arbitrage and risk transmission paths. In the short term, with the news not yet officially confirmed by the NYSE and the technical architecture and regulatory details completely opaque, the market's reaction to this topic is more based on emotional and anticipatory games of imagination rather than pricing specific products. Any trading decisions based on this should be made with an awareness of the high uncertainty involved. In the medium to long term, if the comprehensive tokenization of traditional assets gradually materializes, the boundary between traditional finance and crypto finance will become increasingly blurred, and investors, institutions, and regulators will have to accept the fact that the forms and trading methods of assets are shifting from account-based to "token-based," and the market's opening and closing times will no longer be determined by the chimes of a single time zone. For individual and institutional investors, the more realistic approach at present is to maintain sufficient caution regarding unconfirmed information, avoiding equating media reports with official statements, while continuously monitoring future public statements from regulatory agencies and the NYSE's own official announcements, as these will be key signals for determining whether this potential paradigm shift has truly begun.

Join our community to discuss and grow stronger together!
Official Telegram community: https://t.me/aicoincn
AiCoin Chinese Twitter: https://x.com/AiCoinzh

OKX Benefits Group: https://aicoin.com/link/chat?cid=l61eM4owQ
Binance Benefits Group: https://aicoin.com/link/chat?cid=ynr7d1P6Z

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。