SEC clears 23-hour equity trading as crypto weekend perpetual volume reported at $28B
Crypto News, citing a Binance report, says TradFi perpetual futures weekend volume across crypto exchanges jumped sixfold to $28B as the SEC approved Nasdaq's 23-hour week.
Why it matters
The Nasdaq and NYSE schedule changes would give U.S. equities a trading window that overlaps with weekend crypto activity, which Binance's reported weekend perpetual futures volume suggests is already substantial. Whether that volume follows equities to the extended session or stays in crypto is not established by any evidence available to the desk.
Key facts
Crypto News reported that the SEC approved Nasdaq's request in April to extend U.S. equity trading hours to twenty-three hours a day, five days a week.
Reported by Crypto News (CryptoNews.net)
Crypto News reported that the new Nasdaq rules come into force on the sixth of December, with the extended session running from nine p.m. to four a.m. ET.
Reported by Crypto News (CryptoNews.net)
Crypto News reported that NYSE is also planning to extend trading hours.
Reported by Crypto News (CryptoNews.net)
Crypto News cited a Binance report finding that recent weekend trading volume in TradFi perpetual futures across crypto exchanges surged sixfold.
Reported by Crypto News (CryptoNews.net)
Crypto News cited a Binance report putting that weekend TradFi perpetual futures volume across crypto exchanges at twenty-eight billion dollars, with Binance accounting for nearly half the total.
Reported by Crypto News (CryptoNews.net)
Crypto News interpreted the Binance data as showing that traders already use crypto markets to get round-the-clock exposure to traditional assets.
Reported by Crypto News (CryptoNews.net)
What happened
Crypto News published a write-up, credited to ambcrypto.com, arguing that traditional finance is moving toward an always-on market now that stock exchanges trade almost around the clock. It reported that the SEC approved Nasdaq's request in April to extend U.S. equity trading to twenty-three hours a day, five days a week, with the rules coming into force on the sixth of December and the added session running from nine p.m. to four a.m. ET. Crypto News also said NYSE is planning to extend its own trading hours. The outlet cited a Binance report finding that weekend trading volume in TradFi perpetual futures, across crypto exchanges, surged sixfold in recent months to twenty-eight billion dollars, with Binance accounting for nearly half of that total. Crypto News read that figure as evidence that traders already use crypto markets to get round-the-clock exposure to traditional assets, though the underlying Binance report was not published alongside it and only Crypto News has covered the story so far. What remains unclear is how much of that weekend volume has actually migrated to extended-hours equity venues once the new rules take effect.
How the story developed
- First report
First report by Crypto News (CryptoNews.net)
Why $28B in weekend trading has Wall Street chasing crypto’s 24/7 model
- Update
Binance report on weekend TradFi perpetual futures volume
Binance published a report, cited by Crypto News, on weekend trading volume in TradFi perpetual futures across crypto exchanges.
- Official statement
SEC approves Nasdaq extended-hours request
The SEC approved Nasdaq's request to extend U.S. equity trading to twenty-three hours a day, five days a week.
- Update
Nasdaq extended-session rules take effect
The new Nasdaq rules come into force on the sixth of December, with the added session from nine p.m. to four a.m. ET.
Affected entities
Also mentioned: Binance, Paul Atkins, NYSE
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Crypto News (CryptoNews.net) Aggregator | Why $28B in weekend trading has Wall Street chasing crypto’s 24/7 model | Original |
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