Tokenized stocks trade around the clock. What that means for liquidity providers

The New York Stock Exchange's regular session runs 32.5 hours a week. The pools that trade tokenized stocks on Robinhood Chain are open all 168. For a trader that is a convenience. For a liquidity provider it changes the job: much of the trading, and some of the biggest price moves, happen while the stock's own market is closed. Here is what one week of real pool data shows, and what you can do about it.

One week, 15 stock pools

$195.4M traded, two thirds of it outside NYSE hours ($109.2M and 44% without NVDA)

One weekend

$66.0M from Friday's close to Monday's open, $16.1M of it outside NVDA's pool

At the open

In some pools most of Monday's session volume traded in its first 30 minutes

How much trades while Wall Street is closed

We took the main pool of each of 15 tokenized stocks and summed every swap from Saturday 3 to Friday 9 October 2026, splitting the volume into NYSE hours (weekdays 13:30 to 20:00 UTC) and everything else.

NVDA is the outlier: $49.89M of its main pool's week traded over that one weekend, in 44,792 swaps. Leave it out and the other 14 still did 44% of their volume outside NYSE hours, from 16% for CRCL to 70% for GLD. Outside hours is 81% of the week's clock, so trading is thinner then, but it is far from nothing.

What happens at the open

Over a weekend the pool has no live price from the exchange: it moves only when someone swaps in it. When the market opens, the stock is priced by its own market again, and the pool is traded to that price. The weekend of 3 and 4 October shows both patterns:

• META barely moved over the weekend, between $727.76 and $729.10 in its pool. In Monday's first hour it rose 2.1%, and 65% of Monday's session volume traded in the first 30 minutes.
• MSTR rose 3.1% over the weekend, from $159.58 to $164.50, and then hardly moved at the open: the weekend trading had already priced it.
• CRCL did both: up 2.8% over the weekend, then another 2.1% in Monday's first hour.
• AAPL traded 52% of Monday's session volume in its first 30 minutes.

Why it matters to a liquidity provider

When the price jumps, arbitrage trades the pool to the new price, and the liquidity in the way sells the stock too cheap or buys it too dear. The swap fee is what pays you for that. If the fees from those trades are smaller than the value given up, the position falls behind simply holding. The marketplace measures how this went for each stock as Keeps, the share of its fees a pool held on to after the price moved: on 10 October, 78% for GLD and 27% for CRCL. A real CRCL position shows the same effect at small scale.

What you can do

1. Give the band room for the open. A range that ends 1% from the price is out of range after a 2% opening move. Over a weekend, a wider band keeps working.
2. Check Keeps before you choose a stock. A pool with big fees and a low Keeps paid its liquidity less than the fees suggest.
3. In your own pool, charge for the hours. The Market hours block of LoomDesk's hook charges a different fee outside 13:30 to 20:00 UTC on weekdays. A higher fee then makes every trade that moves the price while the market is closed, arbitrage included, pay more for it. How to open a pool with it.
4. Or let it follow the price. The autopilot can lay a position again around the price when it leaves the band. See the Academy.

Questions

See the stocks trading right now on the marketplace.