The IMF finds that tokenized stocks—blockchain-based representations of shares—are seeing real use, including trades outside traditional U.S. market hours. In its analysis, the IMF reports that more than half of tokenized stock trading occurs when U.S. markets are closed, pointing to investor demand for faster or more flexible trading windows.
At the same time, the IMF concludes the tokenized stock market is still thinner and less stable than conventional equity markets. Across outlets, the analysis highlights that trading remains volatile and illiquid, with liquidity conditions and settlement or operating processes not fully keeping pace with the technology. Other constraints discussed include legal and regulatory frameworks and the broader infrastructure needed to support consistent market functioning. One outlet cites the market’s size at roughly $2.3 billion, underscoring that it is still developing compared with established equities markets.
